Impact of environmental investment and resource endowment on regional energy efficiency: evidence from the Yangtze River Economic Belt, China
In: Environmental science and pollution research: ESPR, Band 29, Heft 4, S. 5445-5453
ISSN: 1614-7499
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In: Environmental science and pollution research: ESPR, Band 29, Heft 4, S. 5445-5453
ISSN: 1614-7499
In: Environmental science and pollution research: ESPR, Band 26, Heft 29, S. 30167-30176
ISSN: 1614-7499
In: Management Science
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Working paper
In: The Manchester School, Band 87, Heft 2, S. 138-182
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In: The Manchester School, Band 87, Heft 2, S. 138-182
ISSN: 1467-9957
Data show that the United States, Europe, and even countries with lesser ties to the international financial system have suffered large permanent losses in aggregate output and employment since the financial crisis, despite unprecedented monetary injections. However, the symptoms of the Great Recession were not observed in China, despite a 45% permanent drop in its exports relative to historical trend. We study the precise channels through which the stimulus programs work in China and construct a simple model to rationalize the dramatically different impacts of stimulus programs across countries.
In: FRB of St. Louis Working Paper No. 2014-007A
SSRN
Working paper
In: Corporate social responsibility and environmental management, Band 31, Heft 3, S. 2066-2085
ISSN: 1535-3966
AbstractPurposeUnder the concept of sustainable development guided by 'carbon peak' and 'carbon neutral', corporate social responsibility (CSR) performance has become the focus of attention in all sectors of society. With the gradual deepening of China's 'new economic normal' development, firms face increasing environmental uncertainty in the market. This study aims to embed CSR, financial flexibility (FF), institutional investors (INST), and corporate value into the same theoretical framework and conduct heterogeneity analysis on the nature of property rights, heavily polluting industries, and marketisation level.Design/Methodology/ApproachBased upon the observation data of listed firms in Shanghai and Shenzhen A‐shares in China from 2011 to 2021, this study uses Stata software for data processing, analysis, and two‐stage least‐squares (2SLS) models to solve endogenous problems.FindingsThe research results show that improving CSR performance increases corporate value, while INST and FF moderate the relationship between them. Further heterogeneity analysis found that the nature of property rights, heavily polluting industries, and marketisation level have different impacts on these moderating effects. This result provides ideas for clarifying the economic impact of enhancing the firms' CSR performance in the current era.Originality/ValueFirst, from the standpoint of CSR performance, it enhances the literature on the key corporate values in China. Second, from the perspective of corporate value, it has enriched the CSR literature and provided a new perspective for further clarifying the significance of improving the CSR performance of firms at this stage. Third, from the perspective of INST and FF, this research examines the moderating mechanism of CSR performance on corporate value. Hence, it provides a reference for further improving the efficiency of resource allocation in the capital markets.
In: Environmental science and pollution research: ESPR, Band 30, Heft 51, S. 110499-110514
ISSN: 1614-7499
In: Wu, J., & Liew, C. Y. (2023). Green finance and environmental, social, and governance: evidence from Chinese listed companies. Environmental Science and Pollution Research; doi:10.1007/s11356-023-30139-x
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In: Forthcoming in Production and Operations Management
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In: International environmental agreements: politics, law and economics, Band 18, Heft 4, S. 573-598
ISSN: 1573-1553
In: American Journal of Agricultural Economics, Band 86, Heft 2, S. 483-491
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In: Social networks: an international journal of structural analysis, Band 79, S. 133-152
ISSN: 0378-8733
SSRN
In: Environmental science and pollution research: ESPR, Band 30, Heft 59, S. 123214-123225
ISSN: 1614-7499