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<p>The inevitable choice for China to prevent and control pollution is environmental tax reform (ETR), and the key factor for the transformation and upgrading by enterprises is human capital. However, the reform will have a significant impact on firms’ human capital. Using data on A-share listed companies in China from 2010 to 2020, this paper uses the difference-in-differences (DID) to investigate the impact of the ETR on human capital accumulation. The results show that this reform significantly drives accumulation of human capital at firms, with a greater impact at some types of firms. The reform mainly increases demand for highly skilled workers by encouraging enterprises to expand their investment in R&amp;D and environmental protection. Finally, a synergistic promotional effect on human capital accumulation at firms is found between this reform and tax reduction policies. The study offers support for promoting accumulation in firms’ human capital and achieving a green transformation.</p>

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Environmental tax reform and firms’ human capital: evidence from China

  • 期刊论文

  • 发表日期：

    2025年7月22日

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  • Hongbing Li,
  • Litang Sun,
  • Chuanwang Sun,
  • Zhen Li

摘要

The inevitable choice for China to prevent and control pollution is environmental tax reform (ETR), and the key factor for the transformation and upgrading by enterprises is human capital. However, the reform will have a significant impact on firms’ human capital. Using data on A-share listed companies in China from 2010 to 2020, this paper uses the difference-in-differences (DID) to investigate the impact of the ETR on human capital accumulation. The results show that this reform significantly drives accumulation of human capital at firms, with a greater impact at some types of firms. The reform mainly increases demand for highly skilled workers by encouraging enterprises to expand their investment in R&D and environmental protection. Finally, a synergistic promotional effect on human capital accumulation at firms is found between this reform and tax reduction policies. The study offers support for promoting accumulation in firms’ human capital and achieving a green transformation.