环境保护税、政府创新补助与企业绿色创新  

Environmental Protection Tax,Government Innovation Subsidy and Enterprises'Green Innovation

作　　者：张晓颖 李红霞[1] 马艳 汤子杰 Zhang Xiaoying;Li Hongxia;Ma Yan;Tang Zijie

机构地区：[1]首都经济贸易大学财政税务学院 [2]中国人民大学财政金融学院

出　　处：《财政研究》2024年第2期98-113,共16页Public Finance Research

基　　金：国家社会科学基金项目“企业绿色税收遵从的同群演化路径与协同治理机制研究”(23CJY014);国家社会科学基金项目“我国减税降费政策效果绩效评估与风险防范研究”(20BJY219);教育部人文社会科学研究规划基金项目“新时代中期预算脆弱度分析与可持续路径选择研究”(18YJA790044)。

摘　　要：本文基于2015—2020年中国深沪A股制造业上市公司数据,利用三重差分模型考察了政府创新补助对环境保护税改革与企业绿色创新关系的调节效应及作用机制。研究表明,政府创新补助在环境保护税改革与企业绿色创新之间存在正向调节效应,产生这种调节效应的原因是政府创新补助缓解了环境保护税改革引致的融资约束,从而促进企业研发投入提升。研究还发现,在政府创新补助的调节效应下,环境保护税改革可以有效促进企业进行实质性绿色创新而非策略性绿色创新。异质性研究表明,政府创新补助的调节效应在金融发展水平低、环保处罚力度弱地区,以及非重点污染、非高科技产业企业中更为显著。本文的研究结论对于加强政策间协同联动、放大组合效应具有重要启示。This study employs a triple difference model to investigate the moderating effect of government innovation subsidies on the relationship between environmental protection tax reform and enterprises'green innovation and the mechanism of moderating effect,based on data from A-shares listed manufacturing companies in China spanning from 2015 to 2020.The results indicate that government innovation subsidies positively moderate this relationship,primarily by alleviating the financing constraints imposed by environmental protection tax reform,thereby boosting R&D investment of enterprises.The results also show that environmental protection tax reform are more effective in fostering enterprises'substantive green innovation rather than strategic green innovation with the moderating effect of government innovation subsidies.In addition,the moderating effect of government innovation subsidies is more pronounced in regions with lower financial development and weaker environmental penalties,as well as among non-key polluting and non-high-tech industrial enterprises.This study offers valuable insights for policymakers to enhance policy synergies and maximize their combined impact on promoting enterprises'green innovation.

关 键 词：企业绿色创新 环境保护税 政府创新补助 三重差分法 

分 类 号：F812.4[经济管理—财政学] F272.3