环境绩效考核政策对中国制造业企业效率的影响OACHSSCD

The"Eleventh Five-Year Plan"for the first time linked local environmental quality indicators with officials'performance appraisal.This policy is used as a quasi-natural experiment and the data of Chinese manufacturing firms from 1998 to 2012 is used to study the impact of this environmental performance evaluation policy on the productivity of Chinese manufacturing firms using a difference-in-difference model.It's found that the environmental performance evaluation policy had improved the overall productivity of manufacturing firms,and compared with non-polluting firms,polluting firms had higher productivity and profitability growth rates;this may result from the increase in fixed asset investment,the reduction in employment scale as well as the lower effective tax rate in manufacturing firms.In addition,the productivity of non-SOE,smaller and more newly-founded firms will be more positively affected by the policy.This shows that the win-win situation of environmental governance and economic growth is achievable for China.Chinese government should persist in implementing and continuously improving environmental governance policies and take the path of sustainable development.