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Do institutional investors’ site visits promote corporate environmental engagement?

Author

Listed:
  • Wang, Kai
  • Peng, Yihui
  • Hao, Jing

Abstract

This paper analyzes the impact of institutional investors’ site visits on corporate environmental engagement using data from Chinese A-share listed firms from 2015 to 2022. Results reveal that institutional investors’ site visits significantly contribute to promoting corporate environmental engagement from the perspective of environmental protection expenditures, environmental information disclosure quality and corporate ESG performance. Managerial attention to environmental protection and internal control quality are important mechanisms, and institutional investors’ site visits promote corporate environmental engagement by increasing managerial attention to environmental protection and improving the quality of corporate internal control. Heterogeneity tests show that with different types of institutional investors and the intensity of environmental regulation, the impact of institutional investors’ site visits on corporate environmental engagement presents heterogeneity. The green concerns of institutional investors have a significant driving effect on improving the quality of corporate environmental information disclosure. The findings disclose the influence of institutional investors’ behavior on corporate environmental decision-making.

Suggested Citation

  • Wang, Kai & Peng, Yihui & Hao, Jing, 2025. "Do institutional investors’ site visits promote corporate environmental engagement?," Research in International Business and Finance, Elsevier, vol. 77(PB).
    • Handle: RePEc:eee:riibaf:v:77:y:2025:i:pb:s0275531925002041
    DOI: 10.1016/j.ribaf.2025.102948
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    Keywords

    Institutional investors’ site visits; Corporate environmental engagement; Internal control quality; Managerial attention to environment;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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