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The rise of common state ownership and corporate environmental performance

Author

Listed:
  • Xutang Liu

    (QDU - Qingdao University)

  • Sabri Boubaker

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School, VNU - Vietnam National University [Hanoï], Swansea University)

  • Jing Liao

    (Massey University)

  • Shouyu Yao

    (TJU - Tianjin University)

Abstract

This study assesses the effect of common state ownership on corporate environmental performance. Using a large sample of Chinese listed firms, we find that state-owned common ownership leads to significantly enhanced corporate environmental performance. Our mechanism analysis indicates that state-owned common owners promote environmental-friendly practices through resource allocation mechanisms that alleviate corporate financial constraints. In addition, these owners play a leadership role in fostering corporate green innovation and enhancing the overall performance of the industry. Specifically, common state ownership leads to higher industry's green total factor productivity and profitability. Moreover, we observe that the positive relationship between common state ownership and corporate environmental performance is more pronounced in firms without politically connected CEOs/chairpersons and in privately owned firms.

Suggested Citation

  • Xutang Liu & Sabri Boubaker & Jing Liao & Shouyu Yao, 2025. "The rise of common state ownership and corporate environmental performance," Post-Print hal-05568797, HAL.
    • Handle: RePEc:hal:journl:hal-05568797
    DOI: 10.1016/j.bar.2024.101368
    as

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