{"title":"所有权类型与企业环境投资：制度和企业因素的偶然效应","authors":"Liang Hu, Shishuo Chen","doi":"10.1016/j.irfa.2024.103893","DOIUrl":null,"url":null,"abstract":"<div><div>Our study using data from 2126 China's listed firms from 2008 through 2019 investigates the influence of ownership types on corporate environmental investment by using ordinary least squares regression model. Our findings indicate that privately-owned enterprises exhibit lower levels of CEI than state-owned enterprises. Moreover, heterogeneity analysis indicates that the negative influence of private ownership on CEI is stronger for the firms in pollution industries yet weaker in regions with strong Buddhism culture. Furthermore, large firm size attenuates, but R&D intensity amplifies, the negative impact of private ownership. Our research provides evidence to CEI literature by revealing the impact of private ownership and offers advice to firms and governments.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":"98 ","pages":"Article 103893"},"PeriodicalIF":9.8000,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Ownership types and corporate environmental investment: Contingent effects of institutional and corporate factors\",\"authors\":\"Liang Hu, Shishuo Chen\",\"doi\":\"10.1016/j.irfa.2024.103893\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>Our study using data from 2126 China's listed firms from 2008 through 2019 investigates the influence of ownership types on corporate environmental investment by using ordinary least squares regression model. Our findings indicate that privately-owned enterprises exhibit lower levels of CEI than state-owned enterprises. Moreover, heterogeneity analysis indicates that the negative influence of private ownership on CEI is stronger for the firms in pollution industries yet weaker in regions with strong Buddhism culture. Furthermore, large firm size attenuates, but R&D intensity amplifies, the negative impact of private ownership. Our research provides evidence to CEI literature by revealing the impact of private ownership and offers advice to firms and governments.</div></div>\",\"PeriodicalId\":48226,\"journal\":{\"name\":\"International Review of Financial Analysis\",\"volume\":\"98 \",\"pages\":\"Article 103893\"},\"PeriodicalIF\":9.8000,\"publicationDate\":\"2025-02-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Financial Analysis\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1057521924008251\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"2024/12/22 0:00:00\",\"PubModel\":\"Epub\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521924008251","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2024/12/22 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Ownership types and corporate environmental investment: Contingent effects of institutional and corporate factors
Our study using data from 2126 China's listed firms from 2008 through 2019 investigates the influence of ownership types on corporate environmental investment by using ordinary least squares regression model. Our findings indicate that privately-owned enterprises exhibit lower levels of CEI than state-owned enterprises. Moreover, heterogeneity analysis indicates that the negative influence of private ownership on CEI is stronger for the firms in pollution industries yet weaker in regions with strong Buddhism culture. Furthermore, large firm size attenuates, but R&D intensity amplifies, the negative impact of private ownership. Our research provides evidence to CEI literature by revealing the impact of private ownership and offers advice to firms and governments.
期刊介绍：
The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.
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