财税与公共管理学院知识库

自改革开放以来，我国经济由高速发展转向高质量发展模式，推进绿色发展与低碳转型已成为未来经济发展的重要趋势。环境污染问题具有较强的负外部性，需要政府部门发挥经济职能与监督职能，承担更多的引导与监管责任，对企业行为实施干预。环境保护税作为政府部门的税收手段，能够兼顾公平与效率，从经济和环境的角度出发，激励企业改善环境行为。在环境问题日趋严重的背景下，作为污染主要源头的重污染企业在环境保护税压力下能否加大环保投资强度，积极履行环境责任进而提高企业环境绩效是值得探讨的问题。

本文首先对研究的相关文献进行梳理，并对相关理论进行阐述。接下来基于理论基础进行作用机制分析，并提出研究假设，选取2013-2022年A股上市的913家重污染企业为研究对象，运用固定效应模型实证检验了环境保护税对重污染企业环境绩效的影响，分析企业环保投资在环境保护税与重污染企业环境绩效之间是否具有中介作用。研究发现：（1）环境保护税对于重污染企业环境绩效有显著的促进作用，企业环境绩效会随着环境保护税压力的提高而改善。（2）环境保护税对重污染企业环保投资行为有正向激励作用。（3）企业环保投资在环境保护税和重污染企业环境绩效之间存在部分中介效应。（4）环境保护税对国有重污染企业环境绩效的促进作用大于非国有企业，对中部地区重污染企业的促进作用最明显，其次为东部与西部地区。在实证研究的基础上，本文以S企业为案例企业，进一步证实环境保护税对于重污染企业环境绩效的影响效果。研究发现，S企业环境保护税、环保投资与企业环境绩效存在很高的相关性，随着环境保护税额的增加，企业环保投资有所增加，环境绩效水平也会有所提高。即环境保护税能够激励S企业增加环保投资，进而对企业环境绩效产生促进作用。

文章最后基于政府与企业两个层面提出建议。政府层面应该不断完善环境保护税政策，规范企业环境信息披露制度，建立企业环境绩效评价体系并加强对企业利益相关者的引导；企业层面应该培养环保理念，树立绿色企业文化，并加大环保投资力度。

Since economic reform and open up, China's economy has shifted from a stage of high-speed development to a stage of high-quality development. Promoting green development and low-carbon transition has become an important trend for future economic development. Environmental pollution has a strong negative externality. Therefore, it is necessary for the government to play economic function and supervisory function, take more responsibility for guidance and supervision obligations and intervene in the behavior of enterprises. As the government department's tax measure, environmental protection tax can incentivize enterprises to improve environmental behavior from the economic perspective and environmental perspective. In the face of increasingly serious environmental problems, as the main source of pollution, whether heavy polluting enterprises increase environmental protection investment under the pressure of environmental protection tax, and actively fulfill their environmental responsibilities to improve their environmental performance is a question worth exploring.

This paper sorts out the relevant literature and elaborates on the related theories. Based on the theories, this paper analyzes the function mechanism and proposes research hypotheses. Next, this paper selects 913 A-share listed heavy polluting enterprises from 2013 to 2022 as the research object, and empirically examines the impact of environmental protection tax on the environmental performance of heavy polluting enterprises by using the fixed-effects model, then analyzes whether the environmental protection investment has an intermediary effect between environmental protection tax and environmental performance of heavy polluting enterprises. Research conclusions: (1) Environmental protection tax has a significant positive effect on heavy polluting enterprises' environmental performance. Enterprises' environmental performance improves with the increase of environmental protection tax. (2) Environmental protection tax has a positive incentive effect on the environmental protection investment of heavy polluting enterprises. (3) Environmental protection investment has a partial intermediate effect on the process of environmental protection tax incentives on environmental performance of heavy polluting enterprises. (4) The environmental protection tax has a greater effect on state-owned heavy polluting enterprises than non-state-owned enterprises. And the environmental protection tax has a greater effect on the promotion of heavily polluting enterprises in central regions than in eastern and western regions. In

addition, based on the background of S enterprise, this paper takes S enterprise as a case enterprise to further confirm the effect of environmental protection tax on the environmental performance of heavy polluting enterprises. It is found that there is a high correlation between S enterprise's environmental protection tax, environmental protection investment and environmental performance. S enterprise's environmental protection investment increases with the increase of environmental protection tax, and the environmental performance also improves. It can be assumed that environmental protection tax has a positive incentive effect on S enterprise's environmental protection investment, which in turn has a promoting effect on environmental performance.

This paper concludes with recommendations based on government level and enterprise level. The government should continue to improve the environmental protection tax policy, standardize enterprises' environmental information disclosure system, establish environmental performance evaluation system and strengthen the guidance of the stakeholders of enterprises. At the enterprise level, it is necessary to cultivate the concept of environmental protection, establish a green corporate culture, and increase investment in environmental protection.