Abstract Incorporating natural resource management and eco‐environmental responsibility into the local government assessment system would change governments' intensity of environmental regulation. However, it is unclear whether how this reflected in firms' strategies. This paper empirically examines effects mechanisms regulation on strategies using quasi‐natural experimental context Leading Officials' Natural Resources Accountability Audit (NRAA) China. The results show that after...

Abstract The effect of carbon risk on the debt capital market has become increasingly prominent under constraints. We use a panel regression model to examine relationship between and cost financing moderating positive media attention this relationship. Using sample 191 Chinese A‐share listed firms operating in high‐carbon industries covering period 2011–15, we conduct an empirical study find that China is U‐shaped one. Thus, exerts “interval effect" financing, which mainly exists private...

Abstract The analysis of the impact central environmental protection inspection (CEPI) on corporate environmental, social, and governance（ESG) performance is important for reforming operation mechanism CEPI to improve its effectiveness fundamentally enhance ESG achieve sustainable development. This paper empirically examines using a multi‐period difference‐in‐differences (DID) model with research sample 674 listed firms in China from 2013 2018. results show that can significantly...

Abstract This study investigates the mechanisms through which executive pay gap affects disclosure of environmental, social, and governance (ESG) information. Utilizing panel data from China's A‐share listed firms between 2012 2020, our findings reveal a significant positive correlation ESG disclosure, with real earnings management playing partial mediating role. Notably, impact on is more pronounced in voluntary those low internal control levels, as compared to mandatory high levels....

External regulatory and normative pressures from both the Chinese central environmental protection inspection (CEPI) program public participation can act together to influence corporate governance behavior. This research uses multiperiod Difference-In-Differences method test compound impact of CEPI on strategies investigate underlying mechanisms. The results show that have a positive effect “source-control” strategy. A reasonable reduction in pollution charges increased subsidies are...

Abstract The negative response of the capital market to environmentally irresponsible events is an important governance mechanism that motivates enterprises assume environmental responsibility. Based on theory effective markets and organizational legitimacy, this paper takes corporate in Chinese sensitive industries during period 2014–2018 as a research sample, our work uses event study methodology explore penalty effect from mathematical empirical case dimension. Furthermore, discusses...

Abstract Local governments and enterprises are two important actors in China's environmental governance system. A better understanding of the interaction between corporate responsibility (CER) governmental (GER) will help to enhance collaboration corporations government, craft a good system, achieve coordinated development economic protection. This paper divides GER into three types: policymaking responsibility, implementation supervisory responsibility. Based on panel data Chinese...

Digital government transformation (DGT) is a major reform toward modernized governance. It provides new pattern to manage environmental pollution and promote sustainable development goals. Thus, in this study, quasi-natural experiment using the Big Data Bureau (BDB) of China conducted investigate impact DGT on corporate violation (CEV) via multiperiod difference-in-differences model. found inhibit CEV. The pressure from regulation public scrutiny play important roles as mechanisms effect. In...

ABSTRACT Based on the quasinatural experiment of China's green finance reform and innovation pilot zones (GFRIs), impact GFRIs environmental strategies heavy‐polluting enterprises is discussed. The results show that after implementation GFRIs, are more inclined to end‐of‐pipe treatment than source prevention. Alleviating financing restrictions enhancing external attention potential channels for induce adopt treatment. Additionally, we explore governance boundaries heterogeneous...

Abstract In this paper, we examine the relationship between water disclosure and firm risk. Specifically, based upon a panel dataset of 334 Chinese listed firms operating in highly water‐sensitive industries during 2010–2015, use regression models to analyze relationships three types risk (i.e., total risk, systematic idiosyncratic risk) moderating effects media coverage on these relationships. Our empirical results show that (a) although there are no significant is negative risk; (b)...