By using Shanghai and Shenzhen A-share listed companies in heavy polluting industry as research object from 2009 to 2014, this paper examines the relationship between media reporting, carbon information disclosure, and the cost of equity financing. The results show that media reporting can improve the quality of carbon information disclosure, and carbon information disclosure level is negatively associated with the cost of equity financing. This study also finds that financial carbon information disclosure and non-financial carbon information disclosure have significant negative relationship with the cost of equity financing respectively. Moreover, this paper shows that media reporting can strengthen the relationship between carbon information disclosure and the cost of equity financing.
This paper theoretically analyzes the direct impact of environmental regulation on carbon emissions and its indirect effects on carbon emissions through foreign direct investment (FDI), energy consumption, industrial structure, and technological innovation. Then, this paper constructs a spatial lag model to empirically test the dual effects of environmental regulation on carbon emissions based on the provincial panel data of 2003–2017 in China. The results show that the average Moran’s I value of carbon emissions during 2003–2017 is 0.2506, passing the significance test at 1% level, and carbon emissions have spatial correlation characteristics. The direct impact of environmental regulation on carbon emissions is significant and positive. Environmental regulation could indirectly influence carbon emissions by influencing FDI, energy consumption, and technological innovation, and meanwhile, FDI, energy consumption, and technological innovation help to reduce carbon emissions under the constraint of environmental regulation, specifically. However, the impact of environmental regulation on carbon emissions through industrial structure is not significant.
Increasing attention is being paid to spatial distribution characteristics of haze pollution and its relation with socioeconomic factors. This study investigates the spatial autocorrelation of haze pollution in China and the effect of foreign direct investment (FDI) on haze pollution in China using a panel data of 31 provinces over the period 2000-12. Using a widely used spatial autocorrelation index, Moran's I values, the estimation results suggest that haze pollution in China has strong spatial autocorrelation and spatial clustering phenomenon. Then, our analysis using spatial econometric models further confirms the significant spatial dependence and spatial spillover effects of haze pollution in China. Meanwhile, we also find a significantly positive relationship between FDI and haze pollution in China, in which an increase of 1% in FDI, haze pollution in China will increase by 0.0235%. Based on these results, we provide some important policy implications for the government to control haze pollution.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.