环保费改税对企业绿色信息披露的影响研究  

The Impact of Environmental Protection Fee-to-Tax Policy on the Green Information Disclosure of Enterprises

作　　者：孔东民[1] 韦咏曦 季绵绵 Kong Dongmin;Wei Yongxi;Ji Mianmian

机构地区：[1]华中科技大学经济学院,湖北武汉430074

出　　处：《证券市场导报》2021年第8期2-14,共13页Securities Market Herald

基　　金：国家社科基金重大项目"创新驱动发展战略下全面塑造发展新优势的路径研究"(项目批准号:21ZDA010)。

摘　　要：企业作为污染排放的重要来源,长期以来受到政府环保部门的密切关注。基于2018年1月1日开始实施的环保费改税政策,本文以2015―2019年沪深两市A股上市公司为样本,从税收政策角度采用双重差分法检验环保费改税对企业环境信息披露质量的影响。研究结果表明,环保费改税对企业环境信息披露质量有着显著的负向影响,且通过生产成本、环境监管强度、环境责任履行情况三方面进行传导;特别地,该政策对轻污染企业、非国有企业、中东部地区企业的负向影响更为显著,而对中高污染企业、国有企业、西部地区企业影响不明显。上述结果表明环保费改税政策仍需进一步改进,从而促进企业环境信息披露质量的提高,并实现企业的绿色发展。As an important source of pollution emissions,firms have been closely monitored by the government.Based on the environmental protection fee-to-tax policy implemented on January 1,2018,this paper uses the differences-in-differences method to test the impact of the environmental protection fee-to-tax policy on the quality of enterprise environmental information disclosure.Results show that the policy has a significant negative impact on the quality of environmental information disclosure and it is conducted through three aspects:production cost,environmental supervision intensity,and environmental responsibility performance.In particular,the policy has a more significant negative impact on light polluting enterprises,non-state-owned enterprises and enterprises in the eastern and central regions,but has insignificant impact on medium/high polluting firms,state-owned firms and firms in the western China.Our results show that the policy of fee-to-tax still needs further implementation and improvement,so as to improve the quality of environmental disclosure and realize firms’green development.

关 键 词：环保费改税 环境信息披露质量 绿色发展 环保税收政策 

分 类 号：F832[经济管理—金融学]