Does air pollution impair investment efficiency?

Guanming He and Tiantian Lin

Economics Letters, 2022, vol. 215, issue C

Abstract: Using a sample of 2174 Chinese listed firms for the period 2014–2019, we examine whether air pollution impairs investment efficiency of firms. We find robust evidence that air pollution is negatively associated with firms’ investment efficiency, and that this association is more pronounced for small firms, non-state-owned firms, financially constrained firms, and firms confronted with high business risk or intense industrial product market competition.

Keywords: Air pollution; Investment efficiency (search for similar items in EconPapers)
JEL-codes: G31 Q53 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:215:y:2022:i:c:s0165176522001227

DOI: 10.1016/j.econlet.2022.110490

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