黄河流域生态补偿政策对企业环保投资的影响——基于重污染行业民营企业的经验数据

采用黄河流域九省区重污染上市企业2006—2015年的面板数据,通过构建多期双重差分模型,研究黄河流域生态补偿政策对民营企业环保投资的影响。实证结果表明,黄河流域生态补偿政策的实施推动了民营企业环保投资的增长。进一步分析表明,在经济竞争力强的地区、存在政企关系的民企中,黄河流域生态补偿政策对民营企业环保投资的促进作用更大。黄河流域生态补偿政策的实施要充分考虑政企互动在其中的作用,不断推动各地区协同共治,切实保障黄河流域高质量发展。

Influences of ecological compensation in Yellow River Basin on environmental protection investment of private enterprises based on empirical data of heavy pollution industries

Based on the panel data of listed heavy-polluting enterprises in nine provinces in Yellow River Basin from 2006 to 2015, a multi-period double-difference model is established to study the influences of the ecological compensation in Yellow River Basin on the environmental protection investment of private enterprises. The empirical results show that the implementation of ecological compensation in the Yellow River Basin promotes the growth of private enterprises'' investment in environmental protection. Further analysis shows that in the areas with strong capacity of economy competition and private enterprises with government-enterprise relations, the ecological compensation in Yellow River Basin has a greater effect on promoting private enterprises'' environmental protection investment. Therefore, the implementation of the ecological compensation in Yellow River Basin should take the role of government-enterprise interaction into full consideration, and continuously promote regional cooperative governance to effectively ensure the high-quality development in Yellow River Basin.