环境保护费改税政策对企业ESG表现的影响研究

Impact of policy of changing environmental protection fee into tax on enterprise ESG performance

ESG表现是由环境、社会责任和治理组成的综合指标,企业ESG表现是当下企业可持续发展能力研究的全新理念也是热点。文章以企业ESG表现视角,运用双重差分的固定效应模型,通过2015—2022年A股上市企业数据研究探讨环境保护费改税对企业ESG表现的影响及作用机制。研究发现:环境保护费改税对企业ESG表现起到显著的促进作用;环境保护费改税政策通过企业绿色治理绩效和绿色技术创新路径加强企业ESG表现;环境保护费改税背景下,在成长期、淘汰期、非国有企业、高法治化水平的样本中,企业ESG表现提升更为显著。为政府、企业、外部投资者提供重要信息。

As a new concept and hot topic in study of enterprise sustainable development ability at present,enterprise ESG performance is a comprehensive index composed of environment,social responsibility and governance.Using a fixed-effect model of difference-in-differences and the data of A-share listed companies from 2015 to 2022,the paper explores the impact of changing environmental protection fee into tax on enterprise ESG performance and the corresponding mechanism.It finds that changing environmental protection fee into tax has a significant promoting effect on enterprise ESG performance;the policy strengthens enterprise ESG performance through green governance performance and green technology innovation path;and under the background of changing environmental protection fee into tax,enterprise ESG performance has improved more significantly in the samples of non-state-owned enterprises or enterprises in growth period and elimination period with high level of legalization.The study provides important information for the government,enterprises and external investors.