环境信息披露监管能改善环境治理吗？来自中国的证据

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2024-09-13 DOI:10.1016/j.ememar.2024.101196

Bo Cheng , Xinyang Mao

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引用次数: 0

摘要

本研究探讨了中国环境信息披露（EID）法规的有效性。我们发现，环境信息披露法规提高了企业的环境信息披露质量（即存在信息效应），并促进了企业的绿色行为（即存在绿色效应）。机制分析表明，由于审计风险较低，重污染企业在 EID 法规实施后被收取的审计费用较低；由于管理近视程度较低，重污染企业在 EID 法规实施后显著增加了绿色投资和绿色创新。额外的异质性分析表明，这些信息效应和绿色效应可以通过媒体报道、审计质量和政治成本等制度环境因素得到加强。

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Does environmental information disclosure regulation improve environmental governance? Evidence from China

This study examines the effectiveness of Chinese environmental information disclosure (EID) regulations. We find that EID regulations improve firms' EID quality (i.e., exist information effect) and foster firms' green behavior (i.e., exist green effect). Mechanism analysis shows that due to lower audit risks, heavy-polluting firms are charged lower audit fees after the implementation of EID regulations; and due to less managerial myopia, heavy-polluting firms significantly increase green investment and green innovation following EID regulations. Additional heterogeneity analysis shows that these information and green effects can be strengthened by institutional environment factors, such as media coverage, audit quality and political cost.

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.