Zhenyu Xu , Umar Farooq , Afaf Ahmed , Abdullah Masood
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引用次数: 0
Abstract
In contemporary literature, extensive research has focused on the influence of environmental taxation on the environmental performance of industrial sectors. However, it is still uncommon in the existing literature how corporate statutory tax rate (CTR) affects environmental performance. Therefore, this study aims to empirically investigate the relationship between CTR and environmental quality (ENQ) as well as environmental innovation (EIN). To conduct this analysis, we utilized 19 years of financial data spanning from 2001 to 2019 across all 48 Asian economies. Our research employed both panel quantile regression (PQR) and system GMM models for the regression analysis. The empirical findings reveal that the corporate statutory tax rate has a positive impact on CO2 emissions, leading to deterioration of the environmental quality, while simultaneously exerting a negative influence on environmental innovation, inhibiting green innovation. These effects of the CTR on ENQ and EIN remained consistent even when controlling for factors such as economic growth, foreign capital, financial development, and environmental taxation. These findings have significant policy implications, suggesting the need for a reevaluation of current tax policies and the introduction of tax rebates for companies striving to enhance their environmental sustainability. This study contributes to the literature by shedding light on the adverse consequences of high taxation on the environmental performance of businesses.
期刊介绍:
Environmental Development provides a future oriented, pro-active, authoritative source of information and learning for researchers, postgraduate students, policymakers, and managers, and bridges the gap between fundamental research and the application in management and policy practices. It stimulates the exchange and coupling of traditional scientific knowledge on the environment, with the experiential knowledge among decision makers and other stakeholders and also connects natural sciences and social and behavioral sciences. Environmental Development includes and promotes scientific work from the non-western world, and also strengthens the collaboration between the developed and developing world. Further it links environmental research to broader issues of economic and social-cultural developments, and is intended to shorten the delays between research and publication, while ensuring thorough peer review. Environmental Development also creates a forum for transnational communication, discussion and global action.
Environmental Development is open to a broad range of disciplines and authors. The journal welcomes, in particular, contributions from a younger generation of researchers, and papers expanding the frontiers of environmental sciences, pointing at new directions and innovative answers.
All submissions to Environmental Development are reviewed using the general criteria of quality, originality, precision, importance of topic and insights, clarity of exposition, which are in keeping with the journal''s aims and scope.