Research on the Relationship between Environmental Government Subsidy and Enterprise Financial Performance

摘要

This paper choices all listed companies which obtain environmental government subsidy from 2012 to 2016 as a sample, and select environmental government subsidy from all kinds of government subsidies manually as study subject. Using ROA and Tobin's Q to measure the short-term financial performance and long-term financial performance of enterprises respectively, the study find that: environmental government subsidy and corporate financial performance shows a significant negative correlation. The innovation of this paper is that the research on government subsidies in the past was mostly limited to all kinds of government subsidies, and the paper distinguishes environmental government subsidies according to the purpose of subsidies and studies them, providing reference for the government to formulate subsidy policies and programs.