Perception of Economic Policy Uncertainty and Energy Consumption Intensity: Evidence from Construction Companies

Yulu Liang, Ruiling Dong, Ruiyifan Wan, Shenglin Ma, Yongjian Huang and Donghui Pan ()
Additional contact information
Yulu Liang: School of Business, Beijing Technology and Business University, Beijing 100048, China
Ruiling Dong: School of Business, Beijing Technology and Business University, Beijing 100048, China
Ruiyifan Wan: School of Business, Beijing Technology and Business University, Beijing 100048, China
Shenglin Ma: School of Economics and Management, North University of China, Taiyuan 030051, China
Yongjian Huang: School of Finance, Central University of Finance and Economics, Beijing 100081, China
Donghui Pan: School of Management Science and Engineering, Central University of Finance and Economics, Beijing 100081, China

Energies, 2025, vol. 18, issue 12, 1-21

Abstract: Using 2010–2019 data from 404 listed construction companies in China, we explore the relationship between perception of economic policy uncertainty (PEPU) and energy consumption intensity (ECI) based on a fixed effects model controlling for company, year, and city fixed effects, with standard errors clustered at the industry level. The results show that the perception of economic policy uncertainty reduces construction enterprise energy consumption intensity, and this result holds after a series of robustness and endogeneity tests. Further, this effect is stronger in firms with more green shareholders, environmental information disclosure, and external attention. Moreover, mechanism analysis indicates that internal control enhancement and green innovation improvement, including quantity and quality, are the underlying channels through which the perception of economic policy uncertainty influences energy consumption intensity.

Keywords: perception of economic policy uncertainty; energy consumption intensity; construction company; internal control; green innovation; China (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1996-1073/18/12/3183/pdf (application/pdf)
https://www.mdpi.com/1996-1073/18/12/3183/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:18:y:2025:i:12:p:3183-:d:1681050

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().