所属栏目:新金融/政府政策与监管

Environmental Regulation and Corporate Environmental Costs Allocation: The Role of Environmental Subsidies and Environmental Pressure
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发布日期:2026年01月27日 上次修订日期:2026年01月27日

摘要

The Central Environmental Protection Inspector (CEPI) is a critical regulatory measure in China aimed at improving ecological quality. From a compliance cost perspective, we examine the impact of the CEPI on corporate environmental governance. The findings reveal an asymmetry in the CEPI's influence: it significantly promotes environmental governance efforts on the non-production side of enterprises, while having no substantial effect on the production side. Additionally, government environmental subsidies do not provide a resource incentive in the process of the CEPI influencing corporate environmental governance. However, local environmental governance pressure mitigates this asymmetry, leading the CEPI to significantly enhance environmental governance on both the production and non-production sides. Further analysis shows that under the synergistic effect of local environmental governance pressure, the CEPI encourages state-owned enterprises to focus on environmental governance on the production side, while non-state-owned enterprises tend to focus on the non-production side. Moreover, political connections reduce the positive impact of the CEPI on production costs under local environmental governance pressure. Finally, the CEPI also significantly encourages enterprises to expand their production scale. These findings offer valuable insights for refining the CEPI system to better promote corporate environmental governance.
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Xiu Haoxin; Wang Hui; Zhang Feifei Environmental Regulation and Corporate Environmental Costs Allocation: The Role of Environmental Subsidies and Environmental Pressure (2026年01月27日) https://www.cfrn.com.cn/lw/16534.html

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