Firms’ green investments: What factors matter?

Siedschlag, Iulia; Yan, Weijie

doi:10.1016/j.jclepro.2021.127554

Cited by 47 publications

(17 citation statements)

References 34 publications

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“…From the perspective of firm size, the digital transformation process of small‐scale firms may lag behind that of large‐scale firms due to the cost constraints of digital transformation (Siedschlag & Yan, 2021). The results of group regression in columns (4)–(5) of Table 6 show that the digital transformation of large‐scale firms is significant at 10%, which preliminarily confirms the above statement.…”

Section: Empirical Analysismentioning

confidence: 99%

Corporate environmental responsibility in polluting firms: Does digital transformation matter?

Lin

Zhang

2023

Corp Soc Responsibility Env

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The motivations for firms to undertake corporate environmental responsibility (CER) have been a hot topic in academia. However, with the rise of the digital economy, it is still been determined whether digital transformation will become a driving force for firms to assume CER. Based on panel data of Chinese listed firms in polluting industries, this article empirically tests whether and how digital transformation affects CER. The results show that digital transformation significantly motivates firms to assume more CER, especially for state‐owned and large‐scale firms and those located in the western region and ordinary‐level cities. The influence mechanism behind the relationship reveals that digital transformation improves financing ability and further encourages firms to assume CER. However, the effect is only short‐term and has no significant influence on the long‐term financing ability. Further research shows that regional differences in environmental governance pressure can strengthen the effect of digital transformation on CER. Our empirical findings provide policy implications for firms' digital transformation and sustainable development.

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Section: Empirical Analysismentioning

confidence: 99%

Corporate environmental responsibility in polluting firms: Does digital transformation matter?

Lin

Zhang

2023

Corp Soc Responsibility Env

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“…Regarding control variables, we find that Size is positively and significantly related to CGI , as shown in many empirical studies (see, e.g., Haller & Murphy, 2012; Huang & Lei, 2021). Large‐scale enterprises have a greater economic ability to make green investment to purchase equipment and introduce technology for reducing carbon emissions (Siedschlag & Yan, 2021). CGI negatively correlates with Lev , which is in line with Liu et al (2022) in that a higher asset−liability ratio plays an inhibitory role in increasing green investment.…”

Section: Empirical Results and Analysismentioning

confidence: 99%

“…The policy effects of environmental regulation on firms with diverse size are heterogeneous (Siedschlag & Yan, 2021). The green investment has the characteristics of high input, long cycle, and uncertainty in the economic benefits.…”

Section: Empirical Results and Analysismentioning

confidence: 99%

Carbon emissions trading and corporate green investment: The perspective of external pressure and internal incentive

2022

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The carbon emissions trading scheme (CETS) is an important institutional innovation that internalizes external costs caused by corporate carbon emissions and promotes firms to engage in green development. Based on a 2009–2019 sample of Chinese enterprises of heavily polluting industries listed on the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE), this paper employs the difference‐in‐differences model to examine the effect of CETS on corporate green investment and discuss the moderating effects of external pressure and internal incentive. We find that the implementation of CETS significantly promotes corporate green investment, and this finding still holds after a series of robustness tests such as Propensity Score Matching‐Difference in Differences (PSM‐DID) method and alternative measure of green investment. The heterogeneity analysis indicates that the positive effect of CETS is stronger in large‐scale enterprises, state‐owned firms, and companies located in regions with strict environmental regulation. In addition, less local government intervention and more internal executive compensation incentive significantly enhance the positive impact of CETS on corporate green investment.

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“…To cope with the issue of environmental damage, enterprises, as essential participants in protecting the environment, should increase their investment in environmental protection and actively assume environmental responsibility while developing their economies (Klemke-Pitek and Majchrzak, 2022). With the increasing awareness of environmental protection in China, the participation of enterprises in environmental protection has received significant attention from the government, shareholders, and the public and attracted the attention of investors who seek references for their investment decisions (Siedschlag and Yan, 2021). Therefore, does corporate involvement in environmental protection significantly impact sustainable corporate development?…”

Section: Introductionmentioning

confidence: 99%

Environmental protection and sustainable development of enterprises in China: The moderating role of media attention

Qing

Jin

2022

Front. Environ. Sci.

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Faced with global environmental problems, such as global warming, enterprises have become important players in environmental protection. By fulfilling their environmental responsibilities, enterprises can create a good external image and gain support from the public and government, thereby increasing the influence of their enterprises. At the same time, the media plays the role of guiding public opinion and supervising the market economy in enterprise development and market economy. Therefore, this study investigates whether the environmental protection measures taken by enterprises have a positive effect on their sustainable development, and how media attention affects the relationship between environmental protection and sustainable development. This study uses the fixed effect regression method to empirically study the data of A share listed companies in China, from 2016 to 2019. The results of the study show that the enterprises’ fulfillment of environmental responsibilities or carbon trading can promote sustainable development. Furthermore, the higher the network or print media attention, the more environmentally responsible behavior and carbon emissions trading can promote sustainable development capabilities of enterprises. This study enriches the understanding of the important role played by environmental protection in driving enterprise sustainability and contributes to the literature by emphasizing the need for media attention about environmental responsibilities and carbon emissions trading.

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Firms’ green investments: What factors matter?

Cited by 47 publications

References 34 publications

Corporate environmental responsibility in polluting firms: Does digital transformation matter?

Corporate environmental responsibility in polluting firms: Does digital transformation matter?

Carbon emissions trading and corporate green investment: The perspective of external pressure and internal incentive

Environmental protection and sustainable development of enterprises in China: The moderating role of media attention

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