Does environmental information disclosure regulation improve environmental governance? Evidence from China
Bo Cheng and
Xinyang Mao
Emerging Markets Review, 2024, vol. 63, issue C
Abstract:
This study examines the effectiveness of Chinese environmental information disclosure (EID) regulations. We find that EID regulations improve firms' EID quality (i.e., exist information effect) and foster firms' green behavior (i.e., exist green effect). Mechanism analysis shows that due to lower audit risks, heavy-polluting firms are charged lower audit fees after the implementation of EID regulations; and due to less managerial myopia, heavy-polluting firms significantly increase green investment and green innovation following EID regulations. Additional heterogeneity analysis shows that these information and green effects can be strengthened by institutional environment factors, such as media coverage, audit quality and political cost.
Keywords: Environmental information disclosure; Information effect; Green effect (search for similar items in EconPapers)
JEL-codes: F64 G34 M41 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:63:y:2024:i:c:s1566014124000918
DOI: 10.1016/j.ememar.2024.101196
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