Establishment of environmental tribunals and corporate outward investment behaviour

HouYang Du and Hang Guo

Finance Research Letters, 2024, vol. 67, issue PA

Abstract: This paper examines the relationship between establishing environmental tribunals and corporate outward investment. Based on listed firms from 2006 to 2022, this paper adopts a difference-in-difference model to explore the effects and underlying mechanisms. The findings indicate that establishing environmental tribunals can promote corporate outward investment including the willingness, numbers and amount. The impact is achieved by enhancing financing constraints, and widening credit spreads.

Keywords: Environmental tribunals; Outward investment behaviour; Financing constraint; Credit spreads (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008250

DOI: 10.1016/j.frl.2024.105795

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