Zhenhua Wang, Ning Wang, Xingqiu Hu, Hongpeng Wang
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引用次数: 17
Abstract
Background
In the stage of sustainable development, enterprises should not only focus on economic efficiency, but also on ecological protection, for which the governments of various countries has adopted various environmental regulation methods to promote green investment by enterprises. However, there are many types of environmental regulations, and the relationship between policy formulation and implementation effects is complicated. Heavily polluting enterprises as the main carrier of resource consumption and pollutant emissions is the main target of environmental regulation. Based on this, we took China's heavily polluting listed companies as examples to explore the impact of different types of environmental regulations on green investment in heavily polluting enterprises.
Results
In this paper, environmental regulations were divided into formal and informal types, of which formal environmental regulations (FER) were subdivided into command-control and market-incentive types. The empirical results showed that the relationship between command-control environmental regulations and green investment by heavily polluting enterprises presents an inverted “U” shape, and market-incentive environmental regulations first have no effect on and then promote green investment by heavily polluting enterprises. Besides, informal environmental regulations (IER) have maintained a positive effect on green investment by heavily polluting enterprises.
Conclusions
Heavily polluting enterprises, respectively, employ passive, active and voluntary green investment strategies under the three types of environmental regulations, providing a reference for the government to promote green investment by enterprises by environmental regulations more effectively.
期刊介绍：
ESEU is an international journal, focusing primarily on Europe, with a broad scope covering all aspects of environmental sciences, including the main topic regulation.
ESEU will discuss the entanglement between environmental sciences and regulation because, in recent years, there have been misunderstandings and even disagreement between stakeholders in these two areas. ESEU will help to improve the comprehension of issues between environmental sciences and regulation.
ESEU will be an outlet from the German-speaking (DACH) countries to Europe and an inlet from Europe to the DACH countries regarding environmental sciences and regulation.
Moreover, ESEU will facilitate the exchange of ideas and interaction between Europe and the DACH countries regarding environmental regulatory issues.
Although Europe is at the center of ESEU, the journal will not exclude the rest of the world, because regulatory issues pertaining to environmental sciences can be fully seen only from a global perspective.
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