Environmental Regulation,Enterprise Scale And Enterprise Environmental Protection Investment

With the rapid development of China's economy,the phenomenon of environmental pollution has attracted great attention of the Party Central Committee and the State Council.The state has successively issued a series of laws and regulations as a means of environmental regulation to control environmental pollution.However,as the main target of regulatory policies,the environmental protection investment of Chinese enterprises is still at a low level.Therefore,it is of great significance to study the impact of government environmental regulations on the environmental protection investment of enterprises,and it is important to introduce the enterprise scale as an important factor affecting the environmental protection investment of enterprises into the research model.Firstly,this paper reviews and summarizes the relevant literature about the influencing factors of environmental protection investment at home and abroad,and finds the research entry point.By analyzing the current situation of environmental protection investment and regulation in China and sample enterprises,this paper finds out the existing problems and puts forward four research hypotheses based on the relevant theoretical basis.In order to verify the research hypothesis proposed in this paper,1184 samples of Listed Companies in China from 2010 to 2017 were selected to test the impact of environmental regulation and enterprise scale on enterprise environmental protection investment by using regression analysis method,and to testwhether the relationship between enterprise scale and environmental regulation and enterprise environmental protection investment can be adjusted by using regression analysis method with interaction terms.Through the analysis of the current situation,it can be seen that the heterogeneity of property rights and regional differences will affect the environmental protection investment of enterprises.Therefore,it is further analyzed whether the above three relationships still exist from the perspective of property rights characteristics and different regions.The research shows that both environmental regulation and enterprise scale have a positive role in promoting enterprise environmental protection investment;enterprise scale will weaken the positive role of environmental regulation and enterprise environmental protection investment;compared with non-state-owned holding enterprises,the weakening role of enterprise scale in state-owned holding enterprises is more significant;from the regional perspective,only the Eastern and central regions have a significant role in weakening enterprise scale.Based on the above conclusions,the corresponding countermeasures and suggestions are put forward from the two levels of government and enterprise.