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The analysis of the impact of central environmental protection inspection (CEPI) on corporate environmental, social, and governance（ESG) performance is important for reforming the operation mechanism of CEPI to improve its effectiveness and fundamentally enhance corporate ESG to achieve sustainable development. This paper empirically examines the mechanism of the impact of CEPI on corporate ESG performance using a multi‐period difference‐in‐differences (DID) model with a research sample of 674 listed firms in China from 2013 to 2018. The results show that CEPI can significantly improve corporate ESG performance, and the strengthening of regulation by local governments is a potential channel. The important internal governance mechanisms of foreign and institutional investor shareholding, as well as the external governance mechanisms of analyst following and media coverage, can effectively strengthen the improvement effects. Further analysis also reveals that there are differences in the effectiveness of different inspection approaches, with “look‐back” inspection outperforming routine inspection. Heterogeneity at the firm and regional levels is also a critical factor in causing differences in the effectiveness of ESG performance improvements. This work not only enriches the research on the micro‐effects of CEPI on firms but also provides a reference for firms to improve their ESG performance and use ESG for investment and business decisions.

This study focuses on improving prediction of the two types of ENSO by combining multi-model ensemble (MME) with a statistical error correction method that is based on a stepwise pattern projection and applied to all models before doing the MME. We evaluate such a combinational approach using five dynamical model datasets from the North American Multi-model Ensemble (NMME) project for the period of 1982-2010. The prediction skills of the proposed MME show an improvement over most tropical Pacific regions. With regard to the two ENSO types, improvements in prediction skills of the proposed MME are particularly evident for the Niño indices for short lead time. The differences between the Eastern Pacific and Central Pacific ENSO types are more pronounced in the corrected forecasts compared with the uncorrected ones. The zonal center position of sea surface temperature anomalies for the corrected MME is closer to the observed than that for the uncorrected MME. The results indicate that reducing prediction errors of each model member by a good correction method before applying the MME method can provide an effective way for empirically improving forecasts of the two ENSO types.Publisher's Note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Incorporating natural resource management and eco‐environmental responsibility into the local government assessment system would change the local governments' intensity of environmental regulation. However, it is unclear whether and how this change is reflected in the firms' environmental strategies. This paper empirically examines the effects and mechanisms of local government regulation on firms' environmental strategies using the quasi‐natural experimental context of the Leading Officials' Natural Resources Accountability Audit (NRAA) in China. The results show that after the implementation of the NRAA, heavily polluting firms are more likely to adopt a source prevention strategy than an end‐of‐pipe governance strategy to cope with the local government's environmental management pressure. Resource support from local governments and increasingly stringent environmental constraints are potential channels for the NRAA to induce firms to adopt a preventive environmental strategy. The environmental governance pressure transmitted to firms differs due to different promotion expectations of local governments. Thus, corporate environmental strategies are related to government promotion expectations. In addition, we apply the Porter hypothesis to the NRAA. Finally, we explore the governance boundaries of the NRAA for different regions, audit intensities, and firms. This paper clarifies the interaction logic between the local governments' environmental constraints and the enterprises' environmental governance behaviors after the implementation of China's pilot policy, enriching research on natural resource asset audits and environmental governance.