Does the greening of the tax system promote the green transformation of China’s heavily polluting enterprises?

Su, Yutong; Zhu, Xiaobo; Deng, Yansha; Chen, Ming; Piao, Zaixu

doi:10.1007/s11356-023-26027-z

Cited by 24 publications

(11 citation statements)

References 62 publications

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“…The cost of financing will affect the capital structure of the enterprise, that is, the proportion of debt and equity. When the debt cost is relatively low, companies are more inclined to use debt financing, and when the debt cost rises, companies may be more inclined to use equity financing [44]. The change of capital structure will affect the risk and value of enterprises.…”

Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Zhang,

Wang,

Guo

et al. 2024

Sustainability

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This paper investigates the effect of environmental, social, and governance (ESG) performance on the enterprise value of heavily polluting listed companies in China’s Shanghai and Shenzhen A-share markets. The study found that ESG performance helps to improve the corporate value of heavily polluting listed companies, and ESG performance has an impact mechanism effect on the corporate value of heavily polluting listed companies through green technology innovation, financing costs, and internal control; the analysis of heterogeneity is conducted from three different perspectives: resource endowment, ownership nature, and overseas background of senior executives. At the same time, the interaction term ESG × EPU is employed to examine the regulatory effect of economic policy uncertainty Non-state-owned enterprises can enhance their enterprise value more effectively by improving their ESG performance based on the research findings. The ESG performance of heavy polluting enterprises in non-resource-based cities has a more obvious role in promoting corporate value; in companies where executives have overseas backgrounds, ESG performance is more conducive to the improvement of corporate value. The empirical evidence derived from the research findings rationalizes the connection between the of ESG performance and enterprise value in industries with high levels of pollution, as well as the pathway of impact.

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Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Zhang,

Wang,

Guo

et al. 2024

Sustainability

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“…Du and Li (2020) confirm that environmental regulations effectively reduce pollution emissions from industrial enterprises [ 3 ]. Su et al (2023) conclude that greening of the tax system has a significant positive effect on the green transformation of heavy enterprises [ 21 ]. Tian et al (2022) find that the green credit policy introduced in China helps promote the green transformation of heavily polluting firms [ 27 ].…”

Section: Literature Reviewmentioning

confidence: 99%

“…First, it enriches empirical research on the microeconomic consequences of green transformation. Most existing literature discusses the economic effects of regional green transformation at the macro level [ [17] , [18] , [19] ] or analyzes the impact of external factors on corporate green transformation at the micro level [ [20] , [21] , [22] , [23] ]. However, few studies examine the effect of corporate green transformation on their development.…”

Section: Introductionmentioning

confidence: 99%

Does green technology transformation alleviate corporate financial constraints? Evidence from Chinese listed firms

Feng,

Wang,

2024

Heliyon

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“…Climate change and environmental pollution are recognized as major challenges to the world's sustainable development because they lead to an increase in extreme weather events that disrupt ecosystems and decrease biodiversity [1]. The urgency of environmental protection requires rapid actions by all countries all over the world.…”

Section: Introductionmentioning

confidence: 99%

“…Can the increase in environmental preference achieve the effect of promoting green innovation by increasing the R&D investment of enterprises? The production activities of heavily polluting enterprises provide economic benefits but also provide many ecological problems, including environmental pollution and resource depletion [1]. Exploring the green development of heavily polluting enterprises is a topic that needs to be solved urgently [2].…”

Section: Introductionmentioning

confidence: 99%

The Impact of Consumer Environmental Preferences on the Green Technological Innovation of Chinese Listed Companies

Yu,

Zeng

2024

Sustainability

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Using the data of companies from heavily polluting industries listed on China’s A-share stock market from 2011 to 2022, this paper empirically investigates the impact of consumer environmental preference on green technological innovation. The results indicate that consumer environmental preference significantly promotes the green innovation of firms from heavily polluting industries. Moreover, consumer environmental preference imposes a higher influence on strategic green innovation than substantive green innovation. The mechanism tests suggest that consumer environmental preference encourages green technological innovation by strengthening the environmental protection concept and increasing R&D investment. Finally, we find that rising consumer environmental preference has a more prominent effect on the promotion of green innovation for enterprises in regions with higher levels of marketization and lower government environmental regulation, larger enterprises, and private enterprises.

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Does the greening of the tax system promote the green transformation of China’s heavily polluting enterprises?

Cited by 24 publications

References 62 publications

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Does ESG Performance Affect the Enterprise Value of China’s Heavily Polluting Listed Companies?

Does green technology transformation alleviate corporate financial constraints? Evidence from Chinese listed firms

The Impact of Consumer Environmental Preferences on the Green Technological Innovation of Chinese Listed Companies

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