How does Environmental Protection Tax Law affect corporate investment preferences?

被引：0
|
作者：
Zhang, Xin [1 ]
Shi, Chenxiao [2 ]
机构：
[1] Wuhan Univ, Res Inst Environm Law, Wuhan 430072, Peoples R China
[2] Univ Melbourne, Melbourne, Vic 3010, Australia
来源：
FINANCE RESEARCH LETTERS | 2025年 / 72卷
关键词：
The Environmental Protection Tax Law; Corporate financialization; Real business development;
D O I：
10.1016/j.frl.2024.106498
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the influence of implementing the Environmental Protection Tax Law on the investment choices of multinational corporations by analyzing data from China's A-share listed companies spanning the years 2006 to 2022. The enforcement of the Environmental Protection Tax Law can stimulate company investment in tangible business operations while curbing corporate financialization. The mechanism test illustrates that implementing the Environmental Protection Tax can impede business financialization by significantly increasing environmental and research and development spending. This article presents policy suggestions for effectively implementing environmental legislation, aggressively reducing firm financial risks, and promoting genuine economic growth.
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页数：7
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