The impact of administrative monopoly regulation on industrial enterprises' green transformation: Evidence from China's Fair Competition Review System

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-07-11 DOI:10.1016/j.irfa.2025.104463

Ge Zhang , Songxian Liu , Bingnan Guo

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引用次数: 0

Abstract

The green transformation of industrial enterprises (GTIE) plays a crucial role in fostering harmony between economic development and the natural environment while accelerating the transition towards a sustainable economic structure. Using data from China's A-share industrial listed enterprises from 2011 to 2022, this study examines the impact of administrative monopoly regulation on GTIE. The findings indicate that the implementation of the Fair Competition Review System (FCRS) effectively curtails administrative monopolies and facilitates GTIE. Mechanism analysis reveals that FCRS promotes GTIE primarily through three channels: attracting green investors, limiting corporate financialization, and optimizing credit resource allocation. Further analysis demonstrates that FCRS can work in synergy with environmental regulations to enhance GTIE. This study offers a novel perspective on advancing GTIE and contributes to the literature on the environmental effects of administrative monopoly regulation.

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行政垄断规制对工业企业绿色转型的影响——来自中国公平竞争审查制度的证据

工业企业绿色转型对于促进经济发展与自然环境的和谐发展，加快经济结构向可持续发展转型具有重要意义。本文利用2011 - 2022年中国a股工业上市企业的数据，考察行政垄断规制对GTIE的影响。研究结果表明，公平竞争审查制度的实施有效地限制了行政垄断，促进了GTIE的发展。机制分析表明，FCRS主要通过吸引绿色投资者、限制企业金融化和优化信贷资源配置三个渠道促进GTIE的发展。进一步分析表明，FCRS可以与环境法规协同工作，以提高GTIE。本研究为推进GTIE提供了一个新的视角，并对行政垄断规制的环境效应文献做出了贡献。

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

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.