Robot adoption and corporate pollution emissions: Evidence from China

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2024-12-20 DOI:10.1016/j.pacfin.2024.102647

Rui Xu , Hao Zhang , Minghui Han , Leo Yang Yang

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引用次数: 0

Abstract

This study examines whether and how industrial robot adoption affects corporate pollution emissions. Using a sample of 163,301 firm-year observations from the Chinese industrial enterprises for the period 2004–2014, we find that firm's robot adoption is positively related to pollution emissions reduction. Further mechanism tests show that the adoption of robots in production can improve a firm's productivity and alleviate a firm's financial constraint, thereby increasing the firm's pollution emissions reduction. In addition, we find that the above-mentioned effect of robot adoption on a firm's pollution emissions reduction is more pronounced for firms headquartered in regions with strong environmental regulations, firms that are high efficiency of pollution treatment and high technology-intensive, firms that have gone public and state-owned enterprises. Altogether, this study provides the first micro evidence on the relationship between robot adoption and corporate pollution emissions, providing significant implications for the world's sustainable development.

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来源期刊

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.