Social credit system construction and corporate environmental performance: A quasi-natural experiment from China

IF 4 4区环境科学与生态学 Q2 ENVIRONMENTAL STUDIES Energy & Environment Pub Date : 2023-09-14 DOI:10.1177/0958305x231199153

Xinghua Cui, Xueping Ning, Ning Xu, Wenjie Zhang

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Abstract

This study explores the role of social credit system construction, an informal institution, in improving corporate environmental performance. To identify the causal connections between social credit and corporate environmental performance, the progressive difference-in-differences (DID) method is adopted by introducing the social credit system construction pilots aiming to improve the social credit environment of China as a quasi-natural experiment. Empirical results imply that social credit system constructions exert a significant improvement effect on corporate environmental performance. In addition, corporate innovation, financial constraints alleviation, and the strengthening of environmental cases enforcement are three effective action mechanisms by which social credit system constructions helping improve corporate environmental performance. Moreover, this promotion effect presents heterogeneity characteristics due to enterprises ownership and the environmental pollution degree of the city where the enterprise is located. This study provides an informal institutional perspective for the green development of enterprises.

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社会信用体系建设与企业环境绩效:来自中国的准自然实验

本研究探讨社会信用体系建设这一非正式制度在改善企业环境绩效中的作用。为了确定社会信用与企业环境绩效之间的因果关系，采用渐进式差异中差异(DID)方法，引入旨在改善中国社会信用环境的社会信用体系建设试点作为准自然实验。实证结果表明，社会信用体系建设对企业环境绩效具有显著的改善作用。此外，企业创新、缓解资金约束和加强环境案件执法是社会信用体系建设有助于提高企业环境绩效的三个有效作用机制。而且，由于企业所有制和企业所在城市的环境污染程度不同，这种促进效应呈现异质性特征。本研究为企业绿色发展提供了非正式制度视角。

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来源期刊

Energy & Environment ENVIRONMENTAL STUDIES-

CiteScore

7.60

自引率

7.10%

发文量

157

期刊介绍： Energy & Environment is an interdisciplinary journal inviting energy policy analysts, natural scientists and engineers, as well as lawyers and economists to contribute to mutual understanding and learning, believing that better communication between experts will enhance the quality of policy, advance social well-being and help to reduce conflict. The journal encourages dialogue between the social sciences as energy demand and supply are observed and analysed with reference to politics of policy-making and implementation. The rapidly evolving social and environmental impacts of energy supply, transport, production and use at all levels require contribution from many disciplines if policy is to be effective. In particular E & E invite contributions from the study of policy delivery, ultimately more important than policy formation. The geopolitics of energy are also important, as are the impacts of environmental regulations and advancing technologies on national and local politics, and even global energy politics. Energy & Environment is a forum for constructive, professional information sharing, as well as debate across disciplines and professions, including the financial sector. Mathematical articles are outside the scope of Energy & Environment. The broader policy implications of submitted research should be addressed and environmental implications, not just emission quantities, be discussed with reference to scientific assumptions. This applies especially to technical papers based on arguments suggested by other disciplines, funding bodies or directly by policy-makers.