Fiscal pressure and carbon intensity: A quasi-natural experiment based on education authority reform

Xue, Mingfu; Razzaq, Asif; Afshan, Sahar; Yang, Xiaodong

doi:10.1016/j.eneco.2023.106919

Cited by 33 publications

(5 citation statements)

References 69 publications

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“…The DID method is commonly applicable in empirical analysis to obtain the net effects of the policy shock by effectively alleviating the endogeneity problems [47,48]. EVMR, as a typical practice of environmental centralization in China, provides a quasi-natural experiment to establish a DID model.…”

Section: Methodology and Datamentioning

confidence: 99%

Environmental Vertical Management and Enterprises’ Performance: Evidence from Water Pollution Reduction in China

Ji,

Wu,

Zhu

2023

Sustainability

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Firm-level evidence for the impact of environmental vertical management on enterprise environmental performance is limited, especially on the performance of water pollution reduction (WPR). Taking the environmental vertical management reform (EVMR) as a quasi-natural experiment, this study constructs a time-varying difference-in-differences model to investigate the effects of EVMR on the WPR performance of enterprises. Using the latest data from the China Industrial Enterprise Database and China Enterprise Pollution Emission Database (1998–2014), we find that EVMR promotes enterprises to improve the performance of WPR. Moreover, heterogeneity analysis shows that the effects vary with regions, industry pollution intensities, and sizes of enterprises. Further mechanism analysis indicates that EVMR reduces water pollution by stimulating production pattern transformation and decreasing fresh water consumption rather than by increasing wastewater treatment facilities. Our empirical findings support the rationality of EVMR in China and provide beneficial insights for enhancing environmental management systems in other developing economies.

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Section: Methodology and Datamentioning

confidence: 99%

Environmental Vertical Management and Enterprises’ Performance: Evidence from Water Pollution Reduction in China

Ji,

Wu,

Zhu

2023

Sustainability

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“…The comprehensive system known as LCT development includes a wide range of economic and social development factors. 16 indicators from energy consumption are chosen based on research on the traits of low-carbon economic transition development (Xu et al, 2023b;Xue et al, 2023). The emission, ecological, environmental, socio-economic, and technological support subsystems, respectively, and an indicator system for low-carbon economic transition development in China is constructed concerning the 2009 carbon dioxide report of the International Energy Agency (see Table 1) (Shi et al, 2022).…”

Section: Dependent Variablementioning

confidence: 99%

“…Local government competitiveness is essential, and allowing local governments to express their initiative and passion fully is the foundation and assurance of success to achieve lowcarbon economic transformation. Therefore, local government competition (Comp) is bound to profoundly impact China's current low-carbon change and development (Boyne, 1996;Hatfield & Kosec, 2013;Razzaq & Yang, 2023). The way local government competition is multidimensional.…”

Section: Introductionmentioning

confidence: 99%

Impact of Heterogeneous Local Government Competition and Green Technology Innovation on Economic Low-Carbon Transition: New Insights From China

Liu,

Ge,

Yang

et al. 2024

Technological and Economic Development of Economy

Self Cite

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Low-carbon transformation of the economy is the inevitable orientation of socialism with Chinese characteristics to high-quality development in the new era, while the Chinese decentralized development model determines that the competition of local governments in China is an important factor influencing the green technological innovation on low-carbon transformation of the economy. How to achieve coordinated economic growth and ecological environment has become a prob-lem for local governments. Data from a Chinese provincial panel covering the years 2007–2019 is used to investigate the effects of heterogeneous local government competition (Comp), namely, economic, ecological and service competitions on economic low-carbon transition, and moderating effects of heterogeneous government competition and green technology innovation (GTECH) on the low-carbon economic transition (LCT). The results reveal that there are substantial disparities in the consequences of heterogeneous government competition on low-carbon economic transition (LCT). Among them, economic competition significantly dampens economic low-carbon transition (LCT), and ecological competition and service competition significantly boost economic low-carbon transi-tion (LCT). After performing robustness checks, these results continue to be strongly convincing. The study of moderating effects shows that economic competition can dampen the positive influence of green technology innovation (GTECH) to the economic low-carbon transition (LCT). However, ecological competition and service competition facilitate the promoting effect of green technology innovation on economic low-carbon transition (LCT).

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“…The DID model assesses the implementation effect of the policy by comparing the difference between the experimental group and the control group before and after the policy, and the DID model can effectively overcome the endogeneity problem, which is more popular in domestic and international academic circles [55]. To accurately identify the impact of green mergers and acquisitions on the environmental performance of heavypolluting enterprises, this paper adopts the double difference method to construct model (1).…”

Section: Model Constructionmentioning

confidence: 99%

The Impact of Green Mergers and Acquisitions on Corporate Environmental Performance: Evidence from China’s Heavy-Polluting Industries

Xu,

Wang,

Gao

et al. 2024

Sustainability

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This study examined the impact of green mergers and acquisitions (green M&As) on corporate environmental performance. Applying the Differences-in-Differences (DID) model to a sample of Chinese heavy-polluting-industry companies listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2022, our study results show that the adoption of green M&As by the listed Chinese heavy polluters can lower corporate environmental capital expenditure and significantly improve corporate environmental performance. Meanwhile, the positive effects of green M&As on environmental performance are also found to be stronger for state-owned enterprises, young enterprises, and enterprises located in areas with low financial investments in energy efficiency and environmental protection, according to a heterogeneity study conducted for this paper. The analysis of mediating effects shows that the green M&A of heavily polluting firms will have a catalytic effect on the improvement of firms’ environmental performance by promoting their green technological innovation and, in turn, their environmental performance. Furthermore, the moderating effect analysis demonstrates that the quality of the firm’s internal controls and the CEO’s prior environmental experience are both factors that can support the beneficial impact of green M&A on the enhancement of the firm’s environmental performance. This paper enriches the theoretical research system of green M&A and green investment driving mechanisms, and at the same time provides empirical support and strategic reference for the green strategy decision of heavy-polluting enterprises.

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Fiscal pressure and carbon intensity: A quasi-natural experiment based on education authority reform

Cited by 33 publications

References 69 publications

Environmental Vertical Management and Enterprises’ Performance: Evidence from Water Pollution Reduction in China

Environmental Vertical Management and Enterprises’ Performance: Evidence from Water Pollution Reduction in China

Impact of Heterogeneous Local Government Competition and Green Technology Innovation on Economic Low-Carbon Transition: New Insights From China

The Impact of Green Mergers and Acquisitions on Corporate Environmental Performance: Evidence from China’s Heavy-Polluting Industries

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