市场激励型环境规制能抑制上市企业“漂绿”行为吗？

——来自《环境保护税法》实施的准自然实验证据

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中图分类号：F832.51；X322；F279.2 2文献标识码：A文章编号：1007-5097（2025）09-0086-11

Abstract：Examining theimpactof theEnvironmentalProtectionTaxLawoncorporategreenwashingiscrucial foradvancing sustainable development within enterprises.Utilizing paneldata from A-sharelisted companies in Shanghai and Shenzhen from2O13 to 2022，this study treats the implementationof the Environmental Protection Tax Lawas a quasinaturalexperimentandemploysadifference-in-diferencesapproach toevaluate theeffctofthis market-based environmentalregulationoncorporate greenwashing behavior.Thefindingsreveal that the ErvironmentalProtection Tax La significantlyreduces greenwashing among firms.Mechanism analysis shows that the law achieves this by mitigating managerialmyopia，enhancinginternalcontrols，andincreasingmediaandanalystcoverageofenterprises.Heterogeneityanalysis furtherindicates thatthelaw'sinhibitoryefectongreenwashingisparticularlypronouncedinfirms withpoliticalconnections，thosesubjectto greater mediaatention，smallercompanies，andinregions characterizedbylowereconomicdevelopment pressure，stricter tax enforcement，and higher public environmental awareness.

KeyWords：market-basedenvironmentalregulation;Environmental ProtectionTax Law；greenwashing;managerial myopia; internal control; media attention; analyst coverage

一、引言及文献综述

在环境问题日益严峻的背景下，如何降低经济发展对生态系统的负面影响、促进人与自然和谐共生成为政策制定的核心议题。（剩余17774字）