{"title":"Environmental courts, environmental investment, and corporate carbon emissions","authors":"Zhenxiang Luo , Xiaolin Zhou","doi":"10.1016/j.frl.2025.106859","DOIUrl":null,"url":null,"abstract":"<div><div>Using data from Chinese listed companies from 2011 to 2022, this study examines the relationship between environmental courts and corporate carbon emissions. Findings indicate that a significant negative correlation exists between the presence of environmental courts and the level of corporate carbon emissions. Further analysis reveals that environmental investment plays a crucial moderating role, significantly influencing this relationship. Heterogeneity analysis found significant differences in the moderating role of environmental investment between high-polluting and non-high-polluting companies.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"75 ","pages":"Article 106859"},"PeriodicalIF":7.4000,"publicationDate":"2025-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325001242","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
Using data from Chinese listed companies from 2011 to 2022, this study examines the relationship between environmental courts and corporate carbon emissions. Findings indicate that a significant negative correlation exists between the presence of environmental courts and the level of corporate carbon emissions. Further analysis reveals that environmental investment plays a crucial moderating role, significantly influencing this relationship. Heterogeneity analysis found significant differences in the moderating role of environmental investment between high-polluting and non-high-polluting companies.
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