Relationship between R&D investment and business performance from the perspective of environmental regulation: Takeing the heavy-polluting industries from 2011 to 2016 as an example

Inrecentyears,Chinahaspromulgatedmanylawsandregulationsofenvironmentalprotection,graduallyforminganenvironmentalregulationsystem,andmostenterprisesareunderthedualpressureofenvironmentalprotectionandbusinessperformance.ItwouldbeasignificantwaythatenterprisesundertakeR&Dactivitiesforachange.ThispaperisbasedontheShanghaiandShenzhenA-sharelistedheavypollutionenterprisesin2011-2016,whichisbasedonthereviewandsummaryofresearchresultsofformerresearchers,combiningwithcurrentenvironmentalregulationsituationofourcountry,raisingtherelevanthypothesisbetweenenvironmentalregulations,R&Dinvestmentandbusinessperformanceagainstheavypollutionindustry.Adoptingthemethodofempiricalresearch,italsobuiltthelinearregressionmodelwhichemploystherelevantfinancialdataofheavy-pollutingenterprisesinChinaasthestatisticalresearchsample.Therelationshipforheavy-pollutingenterprisesaffectedbyenvironmentalregulationsbetweenenvironmentalprotectionR&Dinvestmentandenterprisebusinessperformancewastested.TheresultsshowthatthereisapositiveinfluenceontheenvironmentalR&Dinvestmentandbusinessperformance,andalageffectupontheR&Dinvestmentofenterprisestobusinessperformance.Finally,theresearchresultswereusedtoevaluatesproblemsexistingintheR&DinvestmentonpollutionindustryinChinaaswellasbusinessperformanceandweputforwardsomesuggestionsonimprovingenvironmentalregulationstandardsandtechnologyinnovationconsciousnessaswellasoptimizingthestructureofR&Dinvestment.