Environmental Regulation,corporate Ownership And Fixed Asset Investment

In the face of external environmental control pressures,will different corporate ownership structures have an impact on corporate fixed asset investment? On the basis of previous studies,this paper systematically compares the differences between state-owned enterprises,private enterprises and foreign-invested enterprises in the face of rising environmental control costs,making up for the errors caused by a single perspective analysis.By measuring the elasticity of environmental control costs of fixed assets investment of state-owned enterprises,private enterprises and foreign-funded enterprises in China.The study found that environmental regulation has a significant negative impact on the fixed asset investment decisions of the three types of enterprises,among which private enterprises are the most sensitive,state-owned enterprises are more sensitive,and foreign-invested enterprises have the least impact.At the same time,we find that the local economic development status,export trade volume,and consumption capacity have a significant positive impact on private enterprise fixed asset investment.R&D investment and labor cost are important considerations for state-owned enterprises' fixed asset investment.The consumer market is the main consideration for foreign-invested companies to come to China for fixed asset investment.Therefore,we suggest that for private enterprises,the government can give tax incentives or matching arrangements.When private enterprises are faced with the pressure of environmental control costs,private enterprises will not choose to withdraw from the market because of insufficient policy support.In response to state-owned enterprises,provincial and municipal governments should adhere to the concept of sustainable development in the process of vigorously developing the economy,promote technological innovation of state-owned enterprises in energy conservation and emission reduction,and achieve coordinated development of ecological environment and economic growth.For foreign-funded enterprises,we can focus on absorbing the tertiary industries that have less environmental damage or the emerging high-tech industries that China needs for strategic development,optimize the structure of investment enterprises,and improve China's comprehensive competitiveness.