社会保险改革与企业环境投资：来自中国的证据

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-07-26 DOI:10.1016/j.iref.2025.104482

Bingcheng Zou , Cheng Xu , Meiting Lu , Song Chen

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引用次数: 0

摘要

本研究考察了社会保险缴费对企业环境投资的影响，使用了1684家公司的样本，对2007年至2019年中国a股上市公司的18503家公司进行了年度观察。本文采用准自然实验设计，以2011年中国《社会保险法》为样本，采用差中差模型分析社会保险缴费水平提高的影响。我们的研究结果表明，贡献的增加促使企业增加环境投资。对于那些劳动强度较高、位于环境法规更严格的地区、由有政治关系的首席执行官领导的公司来说，这种影响尤为明显。这些结果为企业-政府互动在形成企业环境投资战略中的作用提供了有价值的见解。

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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Social insurance reform and corporate environmental Investments: Evidence from China

This study examines the impact of social insurance contributions on corporate environmental investments, using a sample of 1684 firms with 18,503 firm-year observations from China's A-share listed companies between 2007 and 2019. Adopting a quasi-natural experimental design based on the 2011 Social Insurance Law in China, we employ a difference-in-differences model to analyze the effect of increased social insurance contributions. Our findings reveal that the increase in contributions prompts firms to raise their environmental investments. This effect is particularly pronounced for firms with higher labor intensity, located in regions with stricter environmental regulations, and led by politically connected CEOs. These results provide valuable insights into the role of firm-government interaction in shaping corporate environmental investment strategies.

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来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.