Non-mandatory approaches to corporate environmental engagement : insights from the Belt and Road Initiative
Autor*in: |
Chen, Yinghui [verfasserIn] Tong, Ying [verfasserIn] Zhou, Can [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2024 |
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Übergeordnetes Werk: |
Enthalten in: International review of economics & finance - Amsterdam [u.a.] : Elsevier Science, 1992, 92(2024) vom: Apr., Seite 1287-1301 |
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Übergeordnetes Werk: |
volume:92 ; year:2024 ; month:04 ; pages:1287-1301 |
Links: |
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DOI / URN: |
10.1016/j.iref.2024.02.003 |
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Katalog-ID: |
1890273724 |
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982 | |2 26 |1 00 |x DE-206 |b We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
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allfields |
10.1016/j.iref.2024.02.003 doi (DE-627)1890273724 (DE-599)KXP1890273724 DE-627 ger DE-627 rda eng Chen, Yinghui verfasserin (DE-588)1220301388 (DE-627)1736656287 aut Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 Tong, Ying verfasserin (DE-588)1332316883 (DE-627)1890949922 aut Zhou, Can verfasserin (DE-588)1332316980 (DE-627)1890949957 aut Enthalten in International review of economics & finance Amsterdam [u.a.] : Elsevier Science, 1992 92(2024) vom: Apr., Seite 1287-1301 Online-Ressource (DE-627)324452098 (DE-600)2026509-8 (DE-576)259271977 1059-0560 nnns volume:92 year:2024 month:04 pages:1287-1301 https://www.sciencedirect.com/science/article/pii/S1059056024000753/pdfft?md5=a4363557d8cc7cf15b6d5d2b98ecf41c&pid=1-s2.0-S1059056024000753-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.iref.2024.02.003 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 92 2024 4 1287-1301 26 01 0206 4531448553 x1z 29-05-24 26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
spelling |
10.1016/j.iref.2024.02.003 doi (DE-627)1890273724 (DE-599)KXP1890273724 DE-627 ger DE-627 rda eng Chen, Yinghui verfasserin (DE-588)1220301388 (DE-627)1736656287 aut Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 Tong, Ying verfasserin (DE-588)1332316883 (DE-627)1890949922 aut Zhou, Can verfasserin (DE-588)1332316980 (DE-627)1890949957 aut Enthalten in International review of economics & finance Amsterdam [u.a.] : Elsevier Science, 1992 92(2024) vom: Apr., Seite 1287-1301 Online-Ressource (DE-627)324452098 (DE-600)2026509-8 (DE-576)259271977 1059-0560 nnns volume:92 year:2024 month:04 pages:1287-1301 https://www.sciencedirect.com/science/article/pii/S1059056024000753/pdfft?md5=a4363557d8cc7cf15b6d5d2b98ecf41c&pid=1-s2.0-S1059056024000753-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.iref.2024.02.003 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 92 2024 4 1287-1301 26 01 0206 4531448553 x1z 29-05-24 26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
allfields_unstemmed |
10.1016/j.iref.2024.02.003 doi (DE-627)1890273724 (DE-599)KXP1890273724 DE-627 ger DE-627 rda eng Chen, Yinghui verfasserin (DE-588)1220301388 (DE-627)1736656287 aut Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 Tong, Ying verfasserin (DE-588)1332316883 (DE-627)1890949922 aut Zhou, Can verfasserin (DE-588)1332316980 (DE-627)1890949957 aut Enthalten in International review of economics & finance Amsterdam [u.a.] : Elsevier Science, 1992 92(2024) vom: Apr., Seite 1287-1301 Online-Ressource (DE-627)324452098 (DE-600)2026509-8 (DE-576)259271977 1059-0560 nnns volume:92 year:2024 month:04 pages:1287-1301 https://www.sciencedirect.com/science/article/pii/S1059056024000753/pdfft?md5=a4363557d8cc7cf15b6d5d2b98ecf41c&pid=1-s2.0-S1059056024000753-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.iref.2024.02.003 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 92 2024 4 1287-1301 26 01 0206 4531448553 x1z 29-05-24 26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
allfieldsGer |
10.1016/j.iref.2024.02.003 doi (DE-627)1890273724 (DE-599)KXP1890273724 DE-627 ger DE-627 rda eng Chen, Yinghui verfasserin (DE-588)1220301388 (DE-627)1736656287 aut Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 Tong, Ying verfasserin (DE-588)1332316883 (DE-627)1890949922 aut Zhou, Can verfasserin (DE-588)1332316980 (DE-627)1890949957 aut Enthalten in International review of economics & finance Amsterdam [u.a.] : Elsevier Science, 1992 92(2024) vom: Apr., Seite 1287-1301 Online-Ressource (DE-627)324452098 (DE-600)2026509-8 (DE-576)259271977 1059-0560 nnns volume:92 year:2024 month:04 pages:1287-1301 https://www.sciencedirect.com/science/article/pii/S1059056024000753/pdfft?md5=a4363557d8cc7cf15b6d5d2b98ecf41c&pid=1-s2.0-S1059056024000753-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.iref.2024.02.003 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 92 2024 4 1287-1301 26 01 0206 4531448553 x1z 29-05-24 26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
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10.1016/j.iref.2024.02.003 doi (DE-627)1890273724 (DE-599)KXP1890273724 DE-627 ger DE-627 rda eng Chen, Yinghui verfasserin (DE-588)1220301388 (DE-627)1736656287 aut Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 Tong, Ying verfasserin (DE-588)1332316883 (DE-627)1890949922 aut Zhou, Can verfasserin (DE-588)1332316980 (DE-627)1890949957 aut Enthalten in International review of economics & finance Amsterdam [u.a.] : Elsevier Science, 1992 92(2024) vom: Apr., Seite 1287-1301 Online-Ressource (DE-627)324452098 (DE-600)2026509-8 (DE-576)259271977 1059-0560 nnns volume:92 year:2024 month:04 pages:1287-1301 https://www.sciencedirect.com/science/article/pii/S1059056024000753/pdfft?md5=a4363557d8cc7cf15b6d5d2b98ecf41c&pid=1-s2.0-S1059056024000753-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.iref.2024.02.003 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 92 2024 4 1287-1301 26 01 0206 4531448553 x1z 29-05-24 26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts. |
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Enthalten in International review of economics & finance 92(2024) vom: Apr., Seite 1287-1301 volume:92 year:2024 month:04 pages:1287-1301 |
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Chen, Yinghui @@aut@@ Tong, Ying @@aut@@ Zhou, Can @@aut@@ |
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26 00 DE-206 We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts Non-mandatory approaches to corporate environmental engagement insights from the Belt and Road Initiative Yinghui Chen, Ying Tong, Can Zhou China (dpeaa)DE-206 Environmental engagement (dpeaa)DE-206 The Belt and Road Initiative (dpeaa)DE-206 |
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code="x">DE-206</subfield><subfield code="b">We investigate the impact of the Belt and the Road Initiative (BRI) proposal on environmental investments made by listed firms within China's heavy-polluting industry. Using a difference-in-differences approach, we find that the BRI proposal results in a 81.53% increase in environmental investment made by firms located in provinces along the BRI route. Mechanism analyses suggest that government subsidies for firms' environmental protection activities alleviate corporate financial constraints, thereby providing them with the financial capacity for environmental protection. We further show heterogeneous effects across ownerships and the severity of agency issues. Overall, the results suggest that a combination of non-mandatory measures and financial incentives can effectively promote corporate engagement in environmental protection efforts.</subfield></datafield></record></collection>
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score |
7.401025 |