Does marine financial policy affect total factor productivity of marine enterprises? An empirical evidence based on Chinese first guidance on strengthening finance for marine economy

Ma, Wen; Li, Ying; Ding, Lili

doi:10.1016/j.marpolbul.2023.115493

Cited by 7 publications

(4 citation statements)

References 57 publications

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“…However, due to differences in cultural aspects between the East and the West, these methods might not be suitable for research on Chinese companies. Hence, building upon the work in [23], this study measured corporate reputation using intangible asset data.…”

Section: Variable Definitionsmentioning

confidence: 99%

"Greenwashing" or "Helping": ESG Performance and Chinese Firm Total Factor Productivity

Zhang,

Liu

2024

J. Engg. Res. & Sci.

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As the market economy has continued to develop, businesses have consistently prioritized profits, excessively emphasizing income and financial gains while neglecting ecological conservation and financial fraud. Consequently, the phenomenon of "greenwashing" has emerged. How to prevent this "greenwashing" phenomenon while pursuing economic benefits and enabling high-quality business development has become a focal point. Therefore, this paper analyzes whether the ESG (Environmental, Social, and Governance) performance of listed companies has an impact on the enhancement of the Total Factor Productivity (TFP) of enterprises. This study aims to explore how companies, while striving to maximize economic interests, can more proactively undertake environmental protection and social responsibility, thereby promoting the green transformation of enterprises. Using A-share listed companies from 2012 to 2022 as the sample, through an empirical examination of the correlation between the ESG performance of listed companies in China and the TFP of enterprises, the following conclusions are drawn: (1) ESG performance significantly promotes the TFP of enterprises, indicating that higher ESG performance corresponds to higher TFP; (2) Through intermediary effect tests, it is found that corporate reputation plays a role in enhancing the TFP of enterprises. That is, through good ESG performance, a company's reputation is improved, thereby leading to higher TFP; (3) Heterogeneity analysis demonstrates that the impact of good ESG performance on the enhancement of TFP is more significant in large-scale enterprises and state-owned enterprises.

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Section: Variable Definitionsmentioning

confidence: 99%

"Greenwashing" or "Helping": ESG Performance and Chinese Firm Total Factor Productivity

Zhang,

Liu

2024

J. Engg. Res. & Sci.

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“…Oreine enterprises serve as micropower carriers and a critical engine for advancing the marine industry and economy. Oreine enterprises function as micropower carriers for developing the maritime industry and economy 54 . That climate change must be mitigated also requires a shift in consumption patterns; therefore, blue economy planning and governance must incorporate consumption patterns.…”

Section: Strengthening Blue Economy Policy To Achieve Sustainable Fis...mentioning

confidence: 99%

Strengthening Blue Economy Policy to Achieve Sustainable Fisheries

Sapriani,

Kusumaningtyas,

Elfaki

2024

JSDERI

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Particularly in developing nations, the aquaculture and fisheries sector is vital to the nutrition and food security of the global population. Nevertheless, notwithstanding their substantial social and economic potential, fishery resources are susceptible to overexploitation and hurting the environment. This research assesses the significance of bolstering blue economy policies to enhance sustainable maritime policies. This study employs the methodology of normative legal research. The research findings, the deterioration of ecological equilibrium, as evidenced by the diminishing carrying capacity of the sea, can be attributed to conservation efforts that lack a stronger emphasis on sustainable management. Maintaining the fundamental tenets of equitable and sustainable fisheries management in nations endowed with oceans is paramount. State and government policies toward society and distributive equity are inextricably linked in managing fisheries resources; local governments may be entrusted with autonomous design and assistance responsibilities for these policies. As a result, a revised vision for constructing a sustainable, equitable, and ambitious blue economy is proposed. Promoting resource-based economic development in the marine and fisheries industrial sector while preserving coastal environments and marine resources through the blue economy concept is possible. This vision is founded upon the following five governance principles: inclusive and equitable processes, climate stability, sustainable consumption and production, circular processes, and the promotion of healthy ecosystems.

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“…However, due to the limitations of market regulation and the complexity of the marine economy, relying solely on the efforts of individual companies cannot effectively promote the sustainable development of marine resource enterprises. It is necessary for the government to play a guiding role by formulating relevant policies that encourage marine resource enterprises to improve their business performance and total factor productivity [7].…”

Section: Introductionmentioning

confidence: 99%

How Does the Government Guide Marine Resource Enterprises in China to Improve Their Business Performance? A Path Analysis Based on DEA-fsQCA

Wang,

Chen

2024

Water

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Policy guidance is a key driving force for improving the business performance of marine resource enterprises. This study establishes a DEA-fsQCA model, selects 42 listed marine resource enterprises as samples, analyzes the business performance improvement paths of marine resource enterprises, and proposes relevant policy recommendations for the government to guide marine resource enterprises to improve their business performance. The result shows that there are three different path models for the high business performance of marine resource enterprises based on their scale and property-right attributes: the “private green innovation” type, the “private green concentration” type, and the “state-owned incentive decentralized” type. According to the research results, this study suggests that, in the process of promoting the improvement of the business performance of marine resource enterprises, the Chinese government should promote the green development of enterprises, stimulate the technological innovation vitality of private marine resource enterprises, optimize enterprise executive incentive policies, and deepen the reform of mixed ownership in state-owned enterprises. Compared with previous studies, this article presents a fresh perspective on researching marine resource enterprises from a macro perspective and constructs a policy system for improving the business performance of different types of marine resource enterprises, providing valuable reference and guidance for the high-quality development of marine resource enterprises and the overall marine economy.

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Does marine financial policy affect total factor productivity of marine enterprises? An empirical evidence based on Chinese first guidance on strengthening finance for marine economy

Cited by 7 publications

References 57 publications

"Greenwashing" or "Helping": ESG Performance and Chinese Firm Total Factor Productivity

"Greenwashing" or "Helping": ESG Performance and Chinese Firm Total Factor Productivity

Strengthening Blue Economy Policy to Achieve Sustainable Fisheries

How Does the Government Guide Marine Resource Enterprises in China to Improve Their Business Performance? A Path Analysis Based on DEA-fsQCA

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