Can environmental regulation improve firm total factor productivity? The mediating effects of credit resource allocation

Yang, Gangqiang; Ding, Ziyu; Wang, Haisen; Zou, Lingli

doi:10.1007/s10668-022-02336-0

Cited by 11 publications

(6 citation statements)

References 65 publications

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“…The main conclusions obtained from the above empirical analysis are: Dual environmental regulations and digital economy have a direct contribution to high-quality economic development, respectively, which is consistent with the findings of Wang et al (2022) [56] and Ding (2022) [29]. In the impact of dual environmental regulations on high-quality economic development, the digital economy has an indirect effect.…”

Section: Discussion Of Resultssupporting

confidence: 87%

“…The environmental policy system, to achieve harmonious development of the economy and the environment, focuses on the formulation and implementation of policies and regulations related to environmental protection and forms an effective monitoring mechanism [15]. Research on environmental regulation, digital economy, and high-quality economic development has received much attention, but the mechanisms by which the three work together are unclear.…”

Section: Literature Reviewmentioning

confidence: 99%

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Can Environmental Regulation Improve High-Quality Economic Development in China? The Mediating Effects of Digital Economy

Wang

Zhang

2022

Sustainability

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Environmental regulation is an effective environmental policy tool, which can balance the interests of the government, enterprises, and the public and can effectively address the internalization of environmental externalities. The digital economy has emerged as a brand-new force for the advancement of high-quality economic development. In order to successfully come true to high-quality economic development based on coordinated development of environmental protection and economic growth, the primary objective of this paper is to investigate whether environmental regulation promotes high-quality economic development from a digital economy perspective. This paper empirically analyzed the impact of environmental regulation on high-quality economic development in 236 Chinese cities from 2011 to 2019, using the mediation effect model, threshold regression model, and spatial Durbin model. The results demonstrated that environmental regulation has a significant positive effect on the general high-quality economic development. Specifically, formal environmental regulation has a positive nonlinear effect with decreasing marginal effect on high-quality economic development, whereas informal environmental regulation has a positive nonlinear effect with increasing marginal effects. The digital economy is an important path for environmental regulation to strengthen high-quality economic development. Environmental regulation and the digital economy jointly promote high-quality economic development. In spatial effects, formal environmental regulation has a negative spatial spillover effect on high-quality economic development, whereas informal environmental regulation has a positive spatial spillover effect. Based on these conclusions, it is proposed that the government should actively develop and strengthen the interaction mechanism between formal and informal environmental regulation, enhance the integration of digital platforms and environmental regulation, and develop a coordinated development mechanism for the environment and economy across regions.

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Section: Discussion Of Resultssupporting

confidence: 87%

Section: Literature Reviewmentioning

confidence: 99%

Can Environmental Regulation Improve High-Quality Economic Development in China? The Mediating Effects of Digital Economy

Wang

Zhang

2022

Sustainability

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“…Consistent with previous studies [ [34] , [35] , [36] ], we controlled for other variables. First, in terms of the basic characteristics of companies, we controlled for firm age (Age) and ownership structure (SOE).…”

Section: Data and Research Methodologymentioning

confidence: 84%

The impact of corporate digital strategic orientation on innovation output

Fan

Zhao

Zhang

et al. 2023

Heliyon

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“…Environment has a profound impact on TFP, which serves as an important indicator of enterprise development. Environmental regulation presents a positive effect on TFP (Ai et al, 2020) and shows a much greater influence on heavy pollution industries when compared with non-heavy pollution industries (Yang et al, 2022). In heavy pollution industries, environmental regulation reduces the ability of the enterprise to introduce novel technological innovations (Shen et al, 2019).…”

Section: Esg Performance Pollution and Total Factor Productivitymentioning

confidence: 99%

Does ESG performance promote total factor productivity? Evidence from China

Gao

Sun³

2022

Front. Ecol. Evol.

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Currently, environmental, social, and corporate governance (ESG) has become an all-pervasive term in the industrial sector, owing to its significant impact on corporate decision-making. While most of the studies provide evidence that the ESG significantly improves a firm's performance and value in the long run, few studies quantitatively analyzed the linkage between ESG and total factor productivity (TFP). Using the data of Chinese-listed companies during 2010–2020, we found that there is a positive relationship between ESG performance and TFP. ESG also improves the corporate TFP by reducing the financial constraints and improving the innovation input. Our extended analysis revealed that this beneficial effect tends to be stronger for SOEs (state-owned enterprises) and industries with high pollution levels. This study also brought to light some implications for Chinese firms in relation to their ESG practices and sustainable development.

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Can environmental regulation improve firm total factor productivity? The mediating effects of credit resource allocation

Cited by 11 publications

References 65 publications

Can Environmental Regulation Improve High-Quality Economic Development in China? The Mediating Effects of Digital Economy

Can Environmental Regulation Improve High-Quality Economic Development in China? The Mediating Effects of Digital Economy

The impact of corporate digital strategic orientation on innovation output

Does ESG performance promote total factor productivity? Evidence from China

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