Market competition, environmental governance subsidies, and environmental penalty risks

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-03-15 DOI:10.1016/j.frl.2025.107224

Yang Jiao , Hairong Tang , Da Tu , Hongli Liu

引用次数: 0

Abstract

This study analyzes data from listed companies (2010–2022) to examine how market competition, environmental governance subsidies, and environmental penalty risk are interrelated. The empirical results show that market competition increases penalty risk, while subsidies mitigates them. Environmental governance subsidies moderate the relationship between market competition and corporate environmental penalty risk, showing heterogeneity in their effect on heavily polluting and nonheavily polluting enterprises. Furthermore, the impact of competition has a size threshold effect.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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