Corporate governance and corporate environmental investments: Evidence from China
Document Type
Journal Article
Publication Title
Energy and Environment
ISSN
0958305X
Volume
31
Issue
6
First Page
923
Last Page
942
Publisher
Sage
School
School of Business and Law
RAS ID
29800
Funders
Fundamental Research Funds for the Central Universities of China
Abstract
© The Author(s) 2020. Using a data set of Chinese listed companies over the period 2008 to 2015, this paper empirically examines whether corporate governance affects the environmental investment decisions. We find that the separation of controlling shareholder’s control right and cash flow right is negatively correlated to corporate environmental investment. Moreover, managerial ownership strengthens the abovementioned negative correlation, which is consistent with the controlling shareholder–manager collusion hypothesis. A further test suggests that internal control effectively weakens the controlling shareholder–manager collusion in their environmental investment decisions.
DOI
10.1177/0958305X19882372
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Comments
Li, Q., Ruan, W., Sun, T., & Xiang, E. (2020). Corporate governance and corporate environmental investments: Evidence from China. Energy & Environment, 31(6), 923-942. https://doi.org/10.1177/0958305X19882372