The Influence of Corporate Environmental Responsibility on Enterprise Value Under the Chinese Context: This paper expounds the influence of corporate environmental responsibility on enterprise value and the moderation effect of regional differences

Abstract

With the deepening of the concept of sustainable development, building an ecological civilization and deepening environmental reforms have been elevated to an important level. Against this policy background, corporates are being asked to increasingly take on environmental responsibility, promoting low-carbon and sustainable development in cities. At the same time, in the long run, corporate responsibility for the environment also causes an increase in corporate value. Under the Chinese current development model, it is important for companies to achieve their own sustainable development while promoting the sustainable development of the cities in which they operate. We collected data from heavily polluting corporates from 2016 to 2018, and empirically examined the impact of corporate environmental responsibility on enterprise value under regional differences. It is concluded that Chinese enterprises' assumption of environmental responsibility is U-shaped correlated with corporate value, and regional differences moderate the correlation.