机构投资者的环境关注是否影响企业的环境投资？

IF 8.7 2区经济学 Q1 ECONOMICS Economic Analysis and Policy Pub Date : 2025-03-01 Epub Date: 2025-02-12 DOI:10.1016/j.eap.2025.02.015

Qinqin Wu , Tingting Xie , Jing Lu

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引用次数: 0

摘要

我们利用机构投资者在实地考察中提出的与上市公司环境治理相关的问题数量来代表机构投资者的环境关注程度，并探讨其对企业环境投资的驱动作用。结果表明，机构投资者实地考察时的环境关注度与被考察企业的环境投资呈正相关。这种正向效应在非国有企业和融资约束程度较低的企业中更为显著。此外，机构投资者的环境关注主要通过监测和媒体报道的信息传播渠道促进被访企业的环境投资。本研究有助于非正式环境法规对公司环境治理的关键影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Does institutional investors’ environmental attention influence corporate environmental investment?

We use the number of questions related to the environmental governance of listed companies raised by institutional investors during site visits to proxy the institutional investors’ environmental attention and explore how it drives firms’ environmental investment. The results show that institutional investors’ environmental attention during site visits positively relates to the visited firms’ environmental investment. This positive effect is more significant in non-state-owned enterprises and firms with low financing constraints. Moreover, institutional investors’ environmental attention mainly promotes visited firms’ environmental investment through monitoring and media coverage’s information dissemination channels. This study contributes to the crucial effects of informal environmental regulations on corporate environmental governance.

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来源期刊

Economic Analysis and Policy ECONOMICS-

CiteScore

9.80

自引率

9.20%

发文量

231

审稿时长

93 days

期刊介绍： Economic Analysis and Policy (established 1970) publishes articles from all branches of economics with a particular focus on research, theoretical and applied, which has strong policy relevance. The journal also publishes survey articles and empirical replications on key policy issues. Authors are expected to highlight the main insights in a non-technical introduction and in the conclusion.