The Impact Of Environmental Regulations On Enterprise Competitiveness

China's economy has developed rapidly since the reform and opening up,but the rapid economic development has been accompanied by problems such as environmental pollution and resource waste.How to achieve good and fast economic development while protecting the environment has become the focus of academic circles.Although China introduced the "scientific development concept" as early as 2003,specific environmental regulations and policies have indeed been formulated and implemented in recent years.Does the environmental regulation policy affect the competitiveness of enterprises while achieving the goal of protecting the environment? What path does it take to affect competitiveness? At present,there is controversy over the impact of environmental regulations on the level of competitiveness.This article first summarizes the literature on environmental regulation,corporate R&D investment,and corporate competitiveness.Based on the summary and reference of previous scholars' research experience,this article selects industrial companies in the Shanghai and Shenzhen A-shares in China from 2009 to 2017.Theories Analyze and empirically study the relationship between environmental regulation and corporate competitiveness.At the same time,referring to the mediation effect test model proposed by Wen Zhonglin(2004),the intermediary role of R&D investment in enterprises was investigated,and research in this area was improved to provide a more scientific and reasonable for the formulation of government environmental regulatory policies and the arrangement of enterprise R&D innovation investment costs Suggestions.Finally,this article groups the sample companies according to the Western Middle East region and conducts an empirical analysis to study the influence of regional factors on the relationship between the three variables.The empirical analysis results show that:(1)There is a negative correlation between China's current environmental regulatory policies and the R&D investment of industrial listed companies,that is,strict environmental policies will reduce R&D investment of enterprises.(2)There is a positive relationship between corporate R&D investment and corporate competitiveness.(3)Strict environmental regulations will reduce the competitiveness of enterprises,and corporate R&D investment plays a part of the intermediary role between the two.Increasing the intensity of environmental regulatory policies will increase investment in corporate pollution control,occupying the normal production and operation of enterprises,including R&D investment.Decreasing R&D investment will lead to a decline in the level of technological innovation of the enterprise,which will also reduce the level of competitiveness of the enterprise.(4)Although there are large gaps in economic development and resource endowment in the western,central and eastern regions of China,industrial listed companies in all three regions meet the above conclusions.The analysis and conclusions of this paper validate the neoclassical economic theory and enrich the relevant literature research.In terms of practical significance,it summarizes the current relationship between the intensity of China's environmental regulation and the competitiveness of enterprises at this stage,and draws the intermediary role of corporate R&D investment,which provides ideas for China's listed industrial enterprises to respond to environmental regulation policies.Encourage enterprises to increase their competitiveness by increasing their R&D investment,and also provide suggestions for the country to formulate environmental regulation policies.