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Anti-corruption and firm-level green total factor productivity

Author

Listed:
  • Zhe Zhao

    (Liaoning University)

  • Yi Zhang

    (Jilin University)

  • Tao Huang

    (Liaoning University)

  • Zeyu Sun

    (Zhongguancun development group Limited by Share Ltd)

  • Shuang Liu

    (Liaoning University)

Abstract

This paper investigates the influence of anti-corruption measures on green total factor productivity (GTFP) at the firm level in China. Analyzing a sample of Chinese A-share companies from 2003 to 2016, we present robust evidence that anti-corruption initiatives significantly enhance GTFP at the micro level, which remains credible after experiencing several robustness tests. Meanwhile, our results also reveal that this positive effect is more pronounced in non-state-owned enterprises, firms in the mature phase of their life cycle, and those operating within highly competitive industries. In addition, our results still exist after excluding endogeneity. Finally, we propose that alleviating financial constraints may serve as a plausible mechanism through which anti-corruption fosters improvements in firm-level GTFP, as the enforcement of anti-corruption can reduce bribes and enable companies to reallocate financial resources toward initiatives such as environmental protection and sustainability. Overall, this research contributes valuable insights into the tangible effects of anti-corruption and its role in influencing the determinants of GTFP.

Suggested Citation

  • Zhe Zhao & Yi Zhang & Tao Huang & Zeyu Sun & Shuang Liu, 2025. "Anti-corruption and firm-level green total factor productivity," Economics of Governance, Springer, vol. 26(2), pages 243-270, June.
    • Handle: RePEc:spr:ecogov:v:26:y:2025:i:2:d:10.1007_s10101-025-00329-z
    DOI: 10.1007/s10101-025-00329-z
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    More about this item

    Keywords

    Anti-corruption; Green total factor productivity; Financial constraint;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption

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