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Has environmental protection tax reform promoted green transformation of enterprises? Evidence from China.
- Source :
-
Environmental science and pollution research international [Environ Sci Pollut Res Int] 2024 Apr; Vol. 31 (20), pp. 29472-29496. Date of Electronic Publication: 2024 Apr 05. - Publication Year :
- 2024
-
Abstract
- Facing the increasingly stringent constraints of resources and the environment, the green transformation of enterprises is imperative. This study selects A-share listed companies in Shanghai and Shenzhen from 2014 to 2021 as samples, using the difference-in-differences method to examine the impact of the environmental protection tax reform (EPTR) on the green transformation of enterprises. The results indicate that the EPTR can promote the green transformation of enterprises, achieving this through three channels: raising the cost of pollution, strengthening the rigidity of law enforcement, and breaking the collusion between the government and enterprises. Notably, this promotional effect is more significant in non-state-owned enterprises, companies in the eastern and western regions, firms with low financing constraints, and those with high media attention. Further analysis shows that the EPTR has a positive impact on the green total factor productivity (GTFP) of enterprises, which implies that enterprises are not only proactively pushing for a green transformation at the strategic level but also taking practical actions. This study responds to the problem of the greening of tax system to promote the green development of enterprises from two aspects of enterprise strategic implementation and productivity and explores the impact mechanism from the perspective of institutional logic. It enriches the research on the effectiveness of the EPTR at the micro-level and broadens the research perspective on the impact mechanisms of environmental regulation. The findings of this study provide references for further optimising relevant policies and regulations and also offer insights for other countries and regions seeking sustainable development.<br /> (© 2024. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)
Details
- Language :
- English
- ISSN :
- 1614-7499
- Volume :
- 31
- Issue :
- 20
- Database :
- MEDLINE
- Journal :
- Environmental science and pollution research international
- Publication Type :
- Academic Journal
- Accession number :
- 38578592
- Full Text :
- https://doi.org/10.1007/s11356-024-32844-7