Research On Environmental Protection Tax’s Influence On Competitiveness Of Heavily Polluting Companies

China’s economic growth has made remarkable achievements in recent years.However,these achievements are accompanied by increasingly prominent environmental problems.Ecological security and economic development is not balanced,our ecological environmental protection is facing a severe test.Heavy industry is one of the important bases of China’s national economy,and most of the heavy industry companies are also heavily polluting companies.For a long time these companies focus on output and set light by environmental protection.It is high time to improve this production and operation mode.In order to place more efficient environmental regulation on heavily polluting companies,China officially levied the environmental protection tax on January 1,2018,replacing the system of pollution charges that has been executed for nearly four decades.The environmental protection tax not only has the effect of restraining the pollution emission,but also affects the economic behavior of the companies,especially the heavily polluting companies.Therefore,this paper focuses on the impact of environmental protection tax on heavily polluting companies,and studies whether the environmental protection tax can promote or inhibit the overall competitiveness of companies through the micro performance indicators of company comprehensive.This paper reviews the relevant domestic and foreign literatures from the aspects of the "double dividend" effect of environmental protection tax and its impact on company competitiveness.Then,this paper shows the current situation of environmental protection tax’s collection and administration in China,and analyzes the existing problems.On this basis,the paper analyzes the influence mechanism of environmental protection tax on company competitiveness,and constructs the company competitiveness measurement system composed of two levels of indicators of business performance and technological innovation.Then,according to the Environmental Protection Inspection Industry Classification Management Directory of Listed Companies,this paper chooses several heavily polluting companies as samples.This paper designed a set of evaluation system composed of four evaluation indexes,then use the factor analysis method to calculate the comprehensive score of company competitiveness.First,common factors were determined by using the characteristic that the original index eigenvalue is greater than 1,then the common factor score was calculated by combining with the principal component score coefficient table,and the comprehensive score was calculated by using the variance contribution ratio as the explained variable of the model.Next,this paper uses empirical analysis method to study environmental protection tax’s influence on heavily polluting companies.First,this paper calculates the descriptive statistics of independent variable and dependent variable,the correlation of environmental tax and company competitiveness,and then analyses environmental protection tax’s influence on heavily polluting companies by panel data regression research.At the same time,in order to investigate whether the environmental protection tax has different effects on the competitiveness of different types of heavily polluting companies,this paper conducts a heterogeneity analysis according to the grouping of regions,industries and property rights.The empirical results show that the government should pay attention to the factors such as the external environment,resource endowment and industry characteristics of heavily polluting companies,so as to better exert the positive effect of environmental protection tax.Finally,based on the empirical results and the analysis of the current status of environmental protection tax,this paper puts forward some suggestions for the problems encountered by companies and the government in the implementation of environmental protection tax,includes that the government should improve the tax rate structure and tax preferential policies of environmental protection tax,improve the ability of collection and administration,encourage heavily polluting companies to increase investment in environmental protection and the innovation ability.