Uvodnik
https://doi.org/10.1080/1331677X.2022.2072356
Do the host country’s environmental regulations inhibit the enterprises’ risk preference of multinational investment? Evidence from China
Hui Jiang
Cheng Peng
Yu Zou
Sažetak
How to achieve a win-win situation between environment protection
and economic development in the process of outward foreign
direct investment (OFDI) has always been a major issue of
Chinese enterprises. In recent years, China has paid unprecedented
attention to environmental protection, and issued relevant
policies to encourage enterprises to abide by the host country’s
environmental regulations and fulfil their environmental protection-
related responsibilities in the process of going global.
However, the influence of the host country’s environmental regulations
on the enterprises’ risk preference of multinational investment
(MIRP) has not received the attention it deserves. This
article makes an empirical analysis on how the host country’s
environmental regulations affect the MIRP by using the sample of
China’s A-share listed companies from 2010 to 2019, and emphatically
tests the mediating roles of enterprises’ green technology
innovation, environmental information disclosure and corporate
environmental responsibility, and the moderating role of shareholder
protection policies. It is found that, on the whole, the host
country’s environmental regulations will inhibit the MIRP by accelerating
enterprises’ green technology innovation, increasing the
level of environmental information disclosure and promoting
environmental responsibility. Besides, the shareholder protection
policies of the host countries can positively moderate the influence
of the host country’s environmental regulations on
the MIRP.
Ključne riječi
Host country’s environmental regulations; risk preference of multinational investment; green technology innovation; environmental information disclosure; corporate environmental responsibility; shareholder protection policies
Hrčak ID:
303724
URI
Datum izdavanja:
31.3.2023.
Posjeta: 557 *