Abstract
The concept of sustainable development is an important issue concerning the national economy and people's livelihood. With the prosperity and development of the economy and society, human beings are increasingly aware of the importance of the ecological environment. This article takes the listed companies on the Shanghai and Shenzhen stock exchanges from 2011 to 2021 as the research sample, using the double difference method to explore the impact of environmental protection tax reform on corporate ESG performance and its mechanism. The study found that the implementation of the “Environmental Protection Tax Law” has a restraining effect on corporate ESG performance. Mechanism analysis reveals that green technology innovation, social welfare expenditures, and the proportion of overseas background executives play an intermediary role in the impact of environmental protection tax reform on corporate ESG performance, with the indirect effect of green technology innovation being the largest. This article provides a new research perspective on the impact of environmental protection tax reform on corporate ESG performance and offers empirical insights for improving environmental tax policies and enhancing corporate ESG performance.
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