Research On The Impact Of China Shenhua Environmental Protection Investment On Enterprise Performance

As one of China’s current important development goals,the 14 th five year plan puts forward "facing the goal of building a beautiful China,implementing the requirements of deepening the battle of pollution prevention and control and promoting the synergy of pollution reduction and carbon reduction".The resolution of the Sixth Plenary Session of the19 th CPC Central Committee also puts forward: "more consciously promote green development,circular development and low-carbon development,and adhere to the civilized development path of production development,affluent life and good ecology".Coal enterprises have made important contributions to China’s economic development,but they have also brought a series of environmental problems.Finding a way of balanced development between economic growth and environmental protection has become a difficult problem all over the world.However,scholars have not reached a unified conclusion on the impact of environmental protection investment on enterprise performance.Therefore,this dissertation chooses to study the impact of environmental protection investment on enterprise performance.This dissertation combs the relevant literature on the relationship between environmental protection investment and enterprise performance at home and abroad.Based on sustainable development theory,social responsibility theory and stakeholder theory,this dissertation focuses on the impact mechanism between environmental protection investment and enterprise performance,and looks for ways to improve enterprise performance when implementing environmental protection policies.Taking China Shenhua as the case study object,this dissertation systematically analyzes the current situation of environmental protection investment of China Shenhua,a leading coal enterprise,from three dimensions:investment scale,use structure and economic added value.In order to explore the relationship between environmental protection investment and enterprise performance,enterprise performance is deconstructed into financial performance,innovation performance and environmental performance.The impact of China Shenhua environmental protection investment on financial performance is evaluated and analyzed based on DEA model,and the impact of environmental protection investment on enterprise environmental performance and innovation performance is studied by combining qualitative and quantitative methods.Through the case study,it is found that the intensity of environmental protection investment does not mean high use efficiency and has no significant effect on the improvement of financial performance,but environmental protection investment can effectively improve China Shenhua’s environmental performance and innovation performance.Based on the research results,this dissertation proposes that enterprises should strengthen the supervision of environmental protection funds and improve the efficiency of fund use;Adhere to the implementation of environmental regulation policies and develop circular economy;Strengthen technology strategy and speed up environmental protection technology innovation.