IDEAS home Printed from https://ideas.repec.org/p/toh/dssraa/121.html
   My bibliography  Save this paper

Is Corporate Environmental Responsibility More Valuable in the Shaky Period? The Moderating Effect of Ownership Type

Author

Listed:
  • Zhou Hui
  • Jun Nagayasu

Abstract

Local protectionism is a severe problem in Chinese environmental governance that offers enterprises various levels of protection from environmental regulations according to different ownership types. Therefore, we examine the effectiveness of corporate environmental responsibility (CER) engagement on firm value with emphasis on the moderating role of ownership type. The study period is split into a period with a steady institutional background (2006-2015) and a shaky period of environmental reforms (2016-2019) to capture the difference in legal circumstances. We find that, first, the impact of CER on firm value changed significantly from negative to positive over the two periods. Second, ownership type played a moderating role that influenced CER effectiveness on firm value. Third, given the environmental reforms, CER effectiveness for state-owned enterprises af- filiated with the central government increased the most while that for private enterprises increased the least.

Suggested Citation

  • Zhou Hui & Jun Nagayasu, 2021. "Is Corporate Environmental Responsibility More Valuable in the Shaky Period? The Moderating Effect of Ownership Type," DSSR Discussion Papers 121, Graduate School of Economics and Management, Tohoku University.
    • Handle: RePEc:toh:dssraa:121
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10097/00130595
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:toh:dssraa:121. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tohoku University Library (email available below). General contact details of provider: https://edirc.repec.org/data/fetohjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.