Confucian culture and corporate environmental management: The role of innovation, financing constraints and managerial myopia

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2024-09-14 DOI:10.1016/j.ribaf.2024.102585

Anna Min Du , Mengyuan Lu , Yiyan Zhang , Zhongyuan Li

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引用次数: 0

Abstract

This paper explores the impact of Confucian culture on the environmental management practices of firms, utilizing data from A-share listed companies in China from 2009 to 2022. The study reveals several significant findings: (1) Firms in regions with a stronger presence of Confucian culture are more likely to adopt environmentally responsible management practices; (2) Confucian culture enhances firms' environmental management through three channels: promoting innovation, easing financing constraints, and reducing managerial myopia, with a particular emphasis on alleviating financing constraints; (3) Regional environmental regulations mitigate the positive influence of Confucian culture on firms' environmental management practices. This study contributes to the literature by elucidating the determinants of corporate environmental management and emphasizing the critical role of cultural factors, particularly in overcoming financial barriers, in corporate decision-making.

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儒家文化与企业环境管理：创新、融资限制和管理近视的作用

本文利用 2009 年至 2022 年中国 A 股上市公司的数据，探讨了儒家文化对企业环境管理实践的影响。研究发现了几个重要结论：（1）儒家文化影响较强地区的企业更有可能采取对环境负责的管理实践；（2）儒家文化通过促进创新、缓解融资约束和减少管理近视三个渠道加强企业的环境管理，尤其是缓解融资约束；（3）地区环境法规缓解了儒家文化对企业环境管理实践的积极影响。本研究阐明了企业环境管理的决定因素，强调了文化因素在企业决策中的关键作用，尤其是在克服融资障碍方面，从而为相关文献做出了贡献。

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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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance