Government Subsidies,green Technology Innovation And Corporate Environmental Performance

With the rapid development of human society and economy,huge environmental costs have been paid,and it has become a consensus to solve the problem of environmental pollution.At present,there is still a problem of lagging environmental governance in heavy-polluting industries.What methods can companies use to improve environmental performance? What kind of support the government can provide for the green development of companies and how the effects have become the research hotspots of corporate green development.Based on the empirical data of listed companies in heavy-polluting industries from 2010 to 2019,this paper uses empirical research methods to analyze the relationship between green technology innovation and corporate environmental performance,the relationship between government subsidies and green technology innovation R&D funding,and the regulatory effect of government subsidies in enterprises with different equity types.The main research contents and conclusions are as follows:(1)Based on the theory of technological innovation and sustainable development,put forward indicators of green technological innovation and environmental performance,and quantitatively analyze the impact of green technological innovation on corporate environmental performance.The empirical results found that green technological innovation can effectively improve the environmental performance of enterprises and promote the improvement of the ecological environment.(2)Based on externality theory and stakeholder theory,a government support method—government subsidy is proposed,and the influence of government subsidy on green technology innovation R&D investment is analyzed.The empirical results found that government subsidies can promote enterprises’ green technology innovation R&D investment,and compared with private enterprises,government subsidies can play a better role in promoting state-owned enterprises;(3)Based on the above four theories,put government subsidies,green technology innovation,and environmental performance in the same research system to test the moderating role of government subsidies in different types of heavily polluting enterprises.The empirical results found that government subsidies in state-owned enterprises can positively promote the relationship between green technological innovation and corporate environmental performance,while in private enterprises,the moderating effect of government subsidies is negative.(4)Put forward specific policy recommendations from the two dimensions of the heavily polluting enterprises themselves and the government.Companies should increase their investment in green technology innovation research and development funds,while the government should continue to increase funding subsidies for heavily polluting companies,and improve the audit mechanism before subsidizing private companies.