Estimating The Causal Effects Of China's Total Pollutant Control Policy

Since reform and opening up,China's economy has developed extremely rapidly.However,due to the rapid development of these years,China's development mode is extensive.For this reason,China's ecological environment is very costly and has accumulated a large number of ecological and environmental problems.As more and more attention is paid to environmental issues,some scholars gradually began to study the effectiveness of environmental regulation policies.At present,most of the research in this field focuses on the impact of the implementation of environmental regulations on China's industries including industrial agglomeration,technological progress and technological innovation.There are relatively few studies evaluating its impact on individual enterprise performance.Enterprise performance is a comprehensive evaluation of the company's overall operating status over a period of time,which is an important aspect of the value of the company.This article hopes to study and evaluate the impact of the implementation of environmental regulatory policies on the performance of individual companies.A major turning point in China's environmental regulation from weak to strong occurred during the "Eleventh Five-Year Plan" period.In the planning year,China implemented the first quantitative pollutant control policy,and decomposed the policy objectives layer by layer to each province,autonomous region,Municipalities directly under the Central Government and cities with separate plans,and achieved significant results in the later period of the "Eleventh Five-Year Plan".In order to study the impact of the "Eleventh Five-Year Plan" total pollutant control policy on micro-enterprises,this paper uses 37 industries including 10 provinces(municipalities)in eastern China in 2003,2005,2006 and 2007 Enterprise data,using the LP method to calculate the total factor productivity of industrial enterprises in the screening range as an indicator to measure corporate performance,and then using the double difference method,with heavy pollution industries as the treatment group and light pollution industries as the control group,empirically evaluated the pollutants The impact of total volume control policies on corporate performance,and the following conclusions are drawn:(1)Compared with non-pollution-intensive enterprises,total pollutant control policies have improved the performance of polluting enterprises.(2)The total pollutant control policy has relatively significantly promoted the performance of non-state-owned enterprises,and has no significant impact on state-owned enterprises.(3)The total pollutant control policy has relatively significantly promoted the performance of large-scale enterprises,and the impact on small enterprises is not significant.To this end,this article proposes policy recommendations:(1)Reasonably arrange policy systems,establish a comprehensive evaluation and assessment system,reduce the protection of state-owned enterprises,and urge them to follow consistent standards.(2)The policy intensity of differentiated environmental regulation should be implemented according to local conditions,and the policy measures that are differentiated,targeted and suitable for the economic development level of various regions should be implemented.(3)Improve the environmental regulation policy and legal system,strengthen the supervision and inspection of energy conservation and emission reduction,etc.