The concept of"lucid waters and lush mountains are invaluable assets"emphasizes the harmonious coexistence of economic development and environmental protection.As the core force of the real economy,the manufacturing industry is an important component of China's economic development and environmental protection.Based on the data of A-share manufacturing listed companies on the Shanghai and Shenzhen Stock Exchanges from 2018 to 2022,this article explores the intrinsic relationship between environmental taxes and financial performance of manufacturing industry,with consideration of the mediating effect of technological innovation.The results show that environmental taxes can promote the improvement of manufacturing industry financial performance and has a positive lag effect.Environmental taxes can also incentivize technolog-ical innovation in the manufacturing industry,though there is a certain time lag in the effect.Technological innovation serves as a bridge between environmental taxes and financial performance,playing a crucial mediating role.Therefore,the government should formulate more targeted environmental tax policies to promote green transformation and sustainable development in the manufacturing industry.
关键词
环保税/技术创新/财务绩效/制造业/可持续发展
Key words
environmental protection tax/technological innovation/financial performance/manufacturing industry/sustainable development
万方数据