Environmental pollution is an inevitable primary responsibility in the production and management of enterprises, and it is the most severe challenge to achieving green production and sustainable development. Environmental pollution liability insurance (EPLI) can transfer corporate pollution liability to insurance companies, which affects corporate performance to a certain extent. However, the influencing factors of enterprise performance are complex, and EPLI also involves multiple subjects, so the impact of EPLI on enterprise performance is also complex. At first, this paper analyzes the possible relationship between EPLI and corporate performance based on the existing literature; subsequently, based on the list of EPLI-insured companies in 2014 and 2015 published by China’s environmental protection department as a sample, this paper uses a fixed-effects model to conduct an empirical analysis, and the mediating role of corporate social responsibility (CSR) was then examined; finally, heterogeneity analysis of the initial conclusions was conducted. The following conclusions are drawn: firstly, there is a significant negative correlation between EPLI and corporate performance. Secondly, CSR played a mediating role in the effect of EPLI on corporate performance; that is, EPLI inhibited the rise of corporate performance by affecting CSR. Thirdly, the impact of EPLI on corporate performance is heterogeneous in terms of equity nature, corporate pollution level and marketization degree. The results of this paper enrich the economic impact theory of EPLI and have specific practical value for enterprise management and policymakers in the background of the green economy.
<abstract> <p>The media plays a dual role of "supervision" and "collusion" in governance mechanisms. This study investigates the impact of media attention and economic policy uncertainty on green innovation by analyzing A-share industrial listed enterprises data between 2011 and 2020. The results show that media attention can effectively promote green innovation and that this impact is significantly heterogeneous. Media attention significantly affects green innovation in non-state-owned enterprises and manufacturing companies positively, but it is insignificant for state-owned enterprises and mining and energy supply industries. Moreover, the results indicate that external economic policy uncertainty can lead enterprises to take early measures to hedge risks, thereby positively regulating the promotion effect of media attention on green innovation during economic fluctuations. Finally, media attention can promote green innovation by increasing environmental regulation intensity, reducing corporate financing constraints, and enhancing corporate social responsibility. Therefore, paying full attention to the media as an institutional subject outside of laws and regulations, gradually forming a pressure-driven mechanism for corporate green innovation, and reducing information opacity, is a pivotal way to promote enterprises' green innovation.</p> </abstract>
Excessive carbon emissions caused by extensive economic development are the key to the current government’s carbon emission reduction goals. In the process of market-oriented reform of land transfer, alleviating the contradiction between land use and low-carbon development is an essential problem in achieving the purpose of carbon peaking and carbon neutrality. The impact of land transfer marketization on regional economic development is complex, and the final effect on carbon emissions needs to be further examined. Based on China’s provincial panel data from 2008 to 2017, this paper uses a double fixed effect model to conduct an empirical analysis. The lag effect of the initial regression results is tested, and the quantitative test of the mediating effect and moderating effect of fixed asset investment is also carried out. The following conclusions are drawn: Firstly, the improvement of the marketization of land transfer will promote carbon emissions; secondly, the promotion effect of the degree of marketization of land transfer on carbon emissions will become inhibited with the delay of the lag effect years. Moreover, fixed asset investment will play a masking effect and an adjustment effect; thirdly, the impact of the degree of marketization of land transfer on carbon emissions is different in the eastern and western regions divided by the degree of marketization, and the strength of government control will also have a significant impact on the impact. The research results of this paper enrich the economic impact theory of land transfer marketization and have certain value for regional land policy management in the context of carbon emission reduction.
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