环境税改革与资源型企业全要素生产率——基于《环境保护税法》实施的准自然实验

环境规制政策对企业技术创新与生产效率的影响是环境经济学界关注的重点问题,2018年的环境税改革在我国环境政策史上意义深远。基于2015—2020年A股上市企业数据,采用双重差分模型研究了环境税改革对资源型企业全要素生产率的影响及作用机理。研究发现,环境税改革显著促进了资源型企业全要素生产率提升,其内在机理为,环境税改革能激励技术创新、遏制机会主义行为以及促进生产要素流动,进而推动资源型企业全要素生产率的提升。动态效应分析发现,环境税改革对全要素生产率提升的作用效果先上升后下降,而对技术创新的激励效果逐年上升。异质性分析发现,环境税改革对民营企业的作用效果比国有企业更显著,对成熟期企业的作用效果比成长期和衰退期企业更显著。因此,建议政府强化环境税征管的执行力度,有序释放环境监管的长期信号并深化生产要素的市场化改革。

Environment Tax Reform and Resource-Based Enterprises' Total Factor Productivity:Quasi-Natural Experiment Based on the Implementation of Environmental Protection Tax Law of the People's Republic of China

The impact of environmental regulation policy on enterprises'' technological innovation and production efficiency is a key concern of environmental economics. The environmental tax reform launched in 2018 is of far-reaching significance in the history of China''s environment policy. Based on the data of A-share listed companies from 2015 to 2020, this paper studies the impacts of environmental protection tax on the total factor productivity of resource-based enterprises and its mechanism by using the DID model. Research finds that the environmental tax reform significantly promotes the total factor productivity of resource-based enterprises. The internal mechanism is that the environmental tax reform can stimulate technological innovation, curb opportunistic behavior and facilitate the flow of productive factors, thus promoting the total factor productivity of resource-based enterprises. According to the dynamic effect analysis, the effect of environmental tax reform on total factor productivity increases first and then decreases, while the incentive effect on technological innovation increases year by year. As heterogeneity analysis shows, the effect of environmental tax reform on private enterprises is more significant than that on state-owned enterprises, and the effect on well-established enterprises is more significant than that on growing and declining enterprises. Therefore, it is suggested that the government should strengthen the enforcement of environmental tax levying and management, release the long-term signal of environmental supervision in an orderly manner and deepen the market-oriented reform of productive factors.