Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2178019
Sustainable green financial system perspective of environmental protection investment and the government’s environmental policy or public participation: evidence from Chinese A-share listed companies
Lisi Zhang
Ziwei Zhang
Karolina Bieryt
Summiya Aftab
Sažetak
Corporate environmental protection investment (EPI) is one of the
ways to accelerate green development. This paper develops a theoretical
model of EPI focusing on three factors: the government, the
public, and the enterprises. It uses data from A-share listed Chinese
companies from 2008 to 2014 to analyse the effects of the government
environmental policy and public participation on the corporate
EPI. Results of this research show that both the environmental
regulations issued by the government and the demands put forward
by public opinion encourage enterprises to increase investment
in environmental protection. Moreover, the government’s
green policy efforts and public participation result in synergy in
governance. Relevant regulations issued by the government
improve the efficiency of actual public participation. However,
redundant government intervention is not conducive to increasing
corporate investment in environmental protection. According to
this research, market-oriented reforms can boost the positive
impact of government and public efforts on corporate EPI. In order
to improve environmental governance and achieve green development,
it is necessary to deepen market-oriented reforms and build a
coordinated, complementary, and incentive-compatible governance
system that deals with issues, demands, rights, and responsibilities
of the government, the public, and enterprises.
Ključne riječi
Green development; Government policy; Public participation; Corporate environmental protection investment
Hrčak ID:
306856
URI
Datum izdavanja:
30.4.2023.
Posjeta: 145 *