| With the rapid development of economy,the environmental problem of our country is also increasingly prominent,the government continues to introduce relevant policies to advocate enterprises to carry out green development,energy saving and emission reduction.The water industry,as an important basic industry of people’s livelihood,will produce many carbon emissions in the process of operation and have a huge impact on the environment.Therefore,the water industry has been brought into the supervision scope of pollution control industry.At the same time,the country in the "14th Five-Year Plan" also clearly put forward the development of smart water,green water,which requires water enterprises to actively carry out green technology innovation.It has also attracted the attention of domestic and foreign scholars on enterprises’ green technology innovation.However,existing researches mainly focus on the horizontal research of green innovation enterprises by using empirical method and the influence of different environmental regulations on enterprises’ innovation activities,and few scholars study the green innovation behavior and influence of individual enterprises.Therefore,this paper takes the change of financial performance of green technology innovation of HJ Company as the research object,and specifically analyzes the impact of innovation behavior on corporate performance,to stimulate the motivation of other water companies to carry out green technology innovation and provide reference for them to carry out green technology innovation activities.Based on the above background and based on green technology innovation theory and triple bottom line theory, this paper adopts a single case study model, selects HJ Company, a representative enterprise in the water industry, as the case study object,expounds the development measures, motivations and outcomes of its green technology innovation, and introduces the impact of HJ Company’s green technology innovation on business activities. Then, the entropy method is used to construct a comprehensive financial performance evaluation system. Based on the analysis of financial dimension, supplemented by the analysis of environmental and social benefits,the change of financial performance of HJ company’s green technology innovation is comprehensively evaluated. It is found that green technology innovation has a lag effect on the financial performance of the case company, which will have a negative impact on the company’s debt paying ability and capital turnover ability in the early stage of investment. In the later stage, it will obviously promote the growth of financial performance, which is reflected in the four aspects of corporate profitability,development ability, environment and social benefits. In the end, according to the comprehensive evaluation results, this paper finds out the shortcomings of HJ Company in green technology innovation, and puts forward suggestions to improve the multichannel financing mode, increase the investment in green technology innovation,optimize the capital structure to continuously promote the development of green technology innovation and accelerate the process of company integration in order to realize the practical application of green technology innovation achievements. This paper starts from the micro-level, by the green technology innovation of HJ Corporation,the function of financial performance and the improvement suggestion interpretation,to promote the green technology innovation of Chinese water industry to drive the enterprise development to provide reference. |
