Can environmental tax reform curb corporate environmental violations? A quasi-natural experiment based on China's “environmental fees to taxes”

Jin, Youliang; Wang, Shujuan; Cheng, Xu; Zeng, Huixiang

doi:10.1016/j.jbusres.2023.114388

Cited by 10 publications

(1 citation statement)

References 73 publications

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“…Standardization can reduce the interference of outliers on the results of data analysis. In this paper, we refer to the study of Jin et al (2024); by standardizing the z-value of firms' ESG performance, the impact of their outliers relative to other values will be reduced, thus improving the stability of data analysis. Column (2) of Table 10 shows the results of standardizing the z-values for the core explanatory variables of corporate ESG performance.…”

Section: Standardizing Z-values For Explanatory Variablesmentioning

confidence: 99%

Can corporate environmental, social, and governance performance influence foreign institutional investors to hold shares? Evidence from China

Feng,

Tang,

Zhong

2024

Bus Strat Env

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With the rise of environmental, social, and governance (ESG) investment concepts, foreign institutional investors have become increasingly concerned about corporate ESG performance. Based on data of China's A‐share listed companies from 2011 to 2021, we empirically find that corporate ESG performance enhances foreign institutional investors to hold shares. Economic policy uncertainty significantly reduces the impact of corporate ESG performance on foreign institutional investors' shareholdings. The mechanism analyses show that information asymmetry and corporate reputation are the two transmission channels for corporate ESG performance that influence foreign institutional investors to hold shares. Further analysis shows that companies with good ESG performance are prone to become heavy investments and long‐term shareholdings for foreign institutional investors. The heterogeneity analyses show that the effect of ESG performance on foreign institutional investors' shareholdings is more significant among firms that are not state‐owned, with high business risk and in heavily polluting industries.

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Section: Standardizing Z-values For Explanatory Variablesmentioning

confidence: 99%

Can corporate environmental, social, and governance performance influence foreign institutional investors to hold shares? Evidence from China

Feng,

Tang,

Zhong

2024

Bus Strat Env

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Testing the load capacity curve hypothesis with green innovation, green tax, green energy, and technological diffusion: A novel approach to Kyoto protocol

Degirmenci,

Aydin

2024

Sustainable Development

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Environmental degradation, which is seen as the most critical obstacle to sustainable development, is addressed by SDGs 7, 11, and 13. The Kyoto Protocol is the first international agreement to solve the problem of environmental degradation. The purpose of this research is to examine the role of Annex II nations in promoting environmental sustainability, particularly those that have adopted environmental obligations under the Kyoto Protocol. The study tests the load capacity curve hypothesis for Annex II countries during the 1994–2018 period. To begin with, we applied some priori tests to panel data analysis and utilized appropriate analysis methods based on the results. Unit root, cointegration, and long‐run estimators were employed. The findings confirmed a long‐run relationship for the load capacity curve model. In the end, two different estimators, namely cross‐sectional ARDL and augmented mean group estimator, were used to test the validity of the load capacity curve hypothesis. The study found that while the hypothesis did not hold true for all Annex II countries, it was only valid for Finland. This research suggests that Annex II countries are not adequately contributing to the achievement of the Kyoto Protocol targets.

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Substantive or symbolic ? The strategic choice of sustainable environmental strategy for enterprises induced by the new environmental protection law

Zhang,

Deng,

Yang

et al. 2024

Sustainable Development

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The new “Environmental Protection Law” (abbreviated as NEPL) holds milestone significance for the construction of China's ecological legal system. However, evidence regarding the impact of NEPL on sustainable environmental strategy (abbreviated as SES) still lacks empirical analysis. This study aims to examine the mechanisms and boundary conditions through which the NEPL influences SES. Utilizing a difference‐in‐differences approach, an empirical analysis is conducted on the data of listed companies on the Shanghai and Shenzhen A‐shares from 2008 to 2021. The findings are as follows: (1) NEPL has significantly promoted both the substantive environmental strategy (abbreviated as SUB) and symbolic environmental strategy (abbreviated as SYM) of heavily polluting enterprises. Compared with SYM, the impact of NEPL on SUB is more significant. (2) Analyst coverage plays a significantly positive moderating role in the relationship between NEPL and SUB, while managerial myopia plays a significantly positive moderating role in the relationship between NEPL and SYM. (3) Environmental legitimacy pressure exerts a mediating effect on the relationship between NEPL and SES. The research findings enrich existing theories related to strategic choice and environmental policy under government intervention and provide policy recommendations for enterprises to achieve sustainable development in the context of NEPL.

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Can environmental tax reform curb corporate environmental violations? A quasi-natural experiment based on China's “environmental fees to taxes”

Cited by 10 publications

References 73 publications

Can corporate environmental, social, and governance performance influence foreign institutional investors to hold shares? Evidence from China

Can corporate environmental, social, and governance performance influence foreign institutional investors to hold shares? Evidence from China

Testing the load capacity curve hypothesis with green innovation, green tax, green energy, and technological diffusion: A novel approach to Kyoto protocol

Substantive or symbolic ? The strategic choice of sustainable environmental strategy for enterprises induced by the new environmental protection law

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