政治关联与企业环保投资关系研究

Research on the Relationship between Political Connection and Corporate Environmental Protection Investment

摘要: 作为社会生产的最大主体，企业在创造收益的过程中也严重破坏了生态资源与环境。本文以2010~2019年沪深A股上市企业为研究对象，实证检验了政治关联与企业环保投资的影响机制。研究发现：政治关联对企业环保投资行为存在一定的抑制作用，政治关联程度越高，企业环保投资额越少。由此可见，有效履行企业环保责任需要营造健康的政企关系。

Abstract: As the largest main body of social production, enterprises have also seriously damaged ecological resources and the environment in the process of creating profits. This paper takes Shanghai and Shenzhen A-share listed companies from 2010 to 2019 as the research object, and empirically tests the impact mechanism of political connections and corporate environmental protection investment. The study found that political connection has a certain inhibitory effect on corporate environmental protection investment behavior. The higher the degree of political connection, the lower the amount of corporate environmental protection investment. It can be seen that effectively fulfilling corporate environmental responsibility requires building a healthy government-enterprise relationship.