Public environmental concern, CEO turnover, and green investment: Evidence from a quasi-natural experiment in China

Yan Gu, Kung-Cheng Ho, Cheng Yan and Giray Gözgör

Energy Economics, 2021, vol. 100, issue C

Abstract: We investigate the impact of public environmental concern (PEC) on corporate green investments from the perspective of CEO turnover using the extreme event of PM 2.5 surge at the end of 2011 in China as a quasi-natural experiment. Compared with non-heavily polluting companies, the probability of CEO turnover in heavily polluting ones has significantly increased amid the surge of PEC. Heavily polluting companies ease the pressure by increasing green investment. In addition to the hard regulative measures such as environmental regulations, the PEC as a form of soft regulation also makes corporate management more focused on environmental responsibility.

Keywords: Public environmental concern; ESG; CEO turnover; Smog; Extreme event (search for similar items in EconPapers)
JEL-codes: G11 G32 N72 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (65)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:100:y:2021:i:c:s0140988321002826

DOI: 10.1016/j.eneco.2021.105379

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