LI Xinpei    School of Economics

ABSTRACT

As China's economy shifts from high-speed development to high-quality development, environmental pollution issues have received more attention, with high energy consuming enterprises causing the most serious damage to the ecological environment. Promoting the green transformation of high energy consuming enterprises is particularly important for promoting high-quality economic development. Green transformation can achieve the unity of ecological, economic, and social benefits, making it the best choice for high energy consuming enterprises. In the process of green transformation for high energy consuming enterprises, there are problems such as a shortage of R&D personnel and insufficient R&D funds, which leads to a lack of motivation for green R&D in high energy consuming enterprises. At this time, tax policy guidance and incentives are needed.

In view of this, it is of great significance to conduct in-depth research on the impact of green tax policies on the green transformation of high energy consuming enterprises. Based on the public goods theory, externality theory and Pigou theory, this paper deeply analyzes the impact mechanism of green tax policy on the green transformation of high energy consuming enterprises, uses green total factor productivity to measure the green transformation, takes the data of high energy consuming enterprises listed in Shanghai and Shenzhen A-share market from 2010 to 2020 as samples, establishes a two-way fixed effect model of individual time, and uses STATA17 software to conduct regression analysis on the data, Research has shown that green tax policies can significantly promote the green transformation of high energy consuming enterprises, and the inherent conditions of enterprises, such as property rights and scale, as well as financing constraints faced by enterprises, are important factors that affect the green transformation effect of green tax policies. Further heterogeneity analysis indicates that the green transformation effect of green tax policies has a more significant impact on high energy consuming enterprises under high financing constraints. At the same time, this policy has a more significant green transformation effect on state-owned high energy consuming enterprises and small-scale high energy consuming enterprises. In addition, this article found issues such as the unreasonable structure of China's green tax system, the low effectiveness of environmental protection tax, and differences in government policy support for enterprises with different characteristics.

Based on the above conclusions, the policy recommendations put forward in this paper are as follows: First, improve the green tax system structure and strengthen the connection of various green tax categories. Second, expand the scope of environmental protection tax and appropriately raise the environmental protection tax rate. Third, ensure that environmental protection funds are earmarked for specific purposes and build a sustainable and stable operation mechanism. Fourth, give full consideration to the heterogeneity of enterprises and improve the green tax preferential policies.

Read the article here:    绿色税收政策对高耗能企业绿色转型的影响研究.pdf