The impact of the environmental protection law issued in 2015 on different types of polluters

In this paper, the data from 2008 to 2020 of enterprises in different types of pollution industries of A-share listed companies in China are selected as samples. Through empirical demonstration, the following conclusions are drawn: First, command-based and market-based environmental regulations can effectively promote enterprises’ green innovation behavior, and command-based environmental regulations have threshold effect. Maximize the effect of green innovation within moderate intensity; otherwise, its output will be inhibited; The effect of public participation environmental regulation is not significant. Second, command-based environmental regulation, market-based environmental regulation and public-participation environmental regulation can effectively promote the improvement of enterprise environmental performance, but the good realization of environmental performance in the early stage has a restraining effect on the current value. Third, different forms of environmental regulation tools both short-term and long-term value of the enterprise has a significant role in promoting, but for the effects of long-term value is greater than the short-term profit, mainly through environmental regulation under the action of enterprise green innovation “innovation” and “first-mover advantage” and “reputation effect” of environmental performance. Fourth, under environmental regulations, enterprises’ regulation rent-seeking behavior is beneficial to enterprises’ short-term environmental performance and economic profit increase, but in the long run, it inhibits enterprises’ green innovation behavior and long-term value growth. Fifthly, by virtue of the information transmission function focused by the media, environmental regulation has a significant promoting effect on enterprises’ green innovation output, environmental performance improvement and long-term value growth, but leads to a downward trend of enterprises’ short-term profits.