Inconsistent preferences in environmental protection investment and the central government's optimal policy

Chang, Ming; Hu, Jwu‐Sheng

doi:10.1080/00036840802599891

Cited by 9 publications

(4 citation statements)

References 12 publications

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“…Environmental investment seems contrary to the primary principle that firms are essentially in pursuit of economic gains yet, more importantly, it reflects the sense of social responsibility of enterprises [6]. The study of feminist care ethics contends that women will be more interested in social responsibility and environmental protection is an important part of corporate social responsibility.…”

Section: Theoretical Analysis and Research Assumptionsmentioning

confidence: 99%

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Does Increased Representation of Female Executives Improve Corporate Environmental Investment? Evidence from China

Jiang

Akbar

2018

Sustainability

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Based on the upper echelon theory and theory of feminist care ethics, this paper uses the data of 359 Chinese listed companies between 2008–2016 to investigate the influence of female executives on corporate environmental investment. The results of the pooled OLS (Ordinary Least Square) regression reveals that both having a female as CEO or Chair as well as increased representation of female directors on the board committees significantly increases corporate environmental investment. Moreover, this phenomenon is not only evident in polluting enterprises but also exists in non-polluting enterprises. Further, we examine whether female executives’ environmental investment is driven by the motive of availing government subsidies or to comply with the environmental regulations. The empirical testing reveals that the environmental investment by female executives is not associated with the acquisition of government subsidies. Moreover, female executives’ environmental investment remains significant in China’s eastern regions despite having less stringent government regulations. The study also found that contrary to the result in the male sample, environmental investment by the female executives significantly reduces pollutant emissions. The present study adds a new perspective to the CSR literature and suggests that an increase in environmental investment by the women executives lies primarily in their innate commitment towards social responsibility. Against the backdrop of a greater emphasis on environmental protection in China, it is concluded that increased representation of female executives in enterprises can contribute to a significant improvement in environmental quality.

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Section: Theoretical Analysis and Research Assumptionsmentioning

confidence: 99%

“…Moreover, environmental investment does not bring the direct economic benefits, hence it is contrary to the profit maximization principle of an enterprise. Therefore, if based on the cost-benefit principle, firm's environmental investment often lacks initiative [6].…”

Section: Introductionmentioning

confidence: 99%

Does Increased Representation of Female Executives Improve Corporate Environmental Investment? Evidence from China

Jiang

Akbar

2018

Sustainability

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“…There is also a lack of consistency in social responsibility (Wei et al 2017). Environmental investment is an integral part of corporate investment decisions and an important re ection of environmental responsibility (Chang and Hu 2011). Therefore, we believe that the effect of regional environmental supervision on corporate environmental investment varies for enterprises with different types of rm ownership.…”

Section: The Moderating Effect Of Firm Ownershipmentioning

confidence: 99%

Regional environmental supervision and corporate environmental investment: from the perspective of ecological damage compensation

Zeng

Cheng

Jin

et al. 2022

Environ Sci Pollut Res

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Based on the "Pilot Reform of the Compensation System for Ecological and Environmental Damage" launched in 2015 and a research sample of listed companies in China's heavy pollution industry from 2014 to 2017, this paper uses a difference-in-differences model to empirically test the impact of the compensation system on corporate environmental investment, as well as the moderating effect of market degree and rm ownership. The result shows that the implementation of the compensation system has signi cantly promoted corporate environmental investment, and the market degree has a moderating effect, but the supervision effect remains the same due to rm ownership. Local government's strict environmental supervision on local enterprises is the important channel to ensure the function of ecological damage compensation system. This research provides a reference for the national government to formulate speci c and effective environmental policies, stimulate the environmental governance motivation of local governments, and encourage enterprises to assume environmental responsibilities, to achieve green and sustainable development. HighlightsEcological compensation system can improve the intensity of regional environmental supervision.The implementation of the compensation system can effectively promote corporate environmental investment.The increase of corporate environmental investment in high-marketization areas is signi cantly higher than that in low-marketization areas.The increase of state-owned enterprises' environmental investment is not signi cantly higher than that of non-state-owned enterprises

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“…Moreover, environmental protection has no direct economic benefit; therefore, it goes against the principles of economic efficiency. Therefore, when it comes to cost-effectiveness, the business environment is scarce in the initiative (Chang and Hu, 2011), while even in the presence of limitations, there is growing concern about climate change and sustainable development.…”

Section: Introductionmentioning

confidence: 99%

Implications of corporate innovation investment on environment sustainability with moderating role of managerial stock incentives: A case of the oil and gas sector of the United States of America

Tang

Rasool²,

Sindhu³

et al. 2023

Front. Environ. Sci.

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This study examines the impact of corporate innovation investment on environmental sustainability in oil and gas companies in the United States of America. We have compiled the empirical data set of 90 major and renowned companies from 2009 to 2019. To examine the cause-and-effect relationship between the specific factors, we applied the generalized method of movement, and the statistical result reflected a significant and positive relationship between corporate innovation investment and environmental sustainability. This indicates that the positive inclusion of intangible assets leads to motivation in innovation that enhances the context of environmental sustainability. Managerial stock incentives significantly and positively moderate the relationship between corporate innovation investment and environmental sustainability. Enterprises should not only consider their management stock mechanism during the formulation of an innovation strategy but also design the contract according to the innovation level of the enterprise to determine the level of managerial incentives. This study provides insight regarding the significant role of corporate innovation, which establishes a way forward to environmental sustainability.

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Inconsistent preferences in environmental protection investment and the central government's optimal policy

Cited by 9 publications

References 12 publications

Does Increased Representation of Female Executives Improve Corporate Environmental Investment? Evidence from China

Does Increased Representation of Female Executives Improve Corporate Environmental Investment? Evidence from China

Regional environmental supervision and corporate environmental investment: from the perspective of ecological damage compensation

Implications of corporate innovation investment on environment sustainability with moderating role of managerial stock incentives: A case of the oil and gas sector of the United States of America

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