Establishment of environmental protection courts and corporate foreign investment behavior

Rui Yang and Jiaqi Wang

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This paper explores how the establishment of environmental protection courts affects the foreign investment behavior of non-financial companies listed on the Shanghai and Shenzhen A-shares. Using a multiple regression econometric model, the study finds that establishing these courts significantly boosts foreign investment activities. This effect remains consistent across various robustness tests. Furthermore, moderating effect tests reveal that the positive impact is stronger for non-state-owned and heavily polluting enterprises. These results suggest that corporate ownership type and industry characteristics play a critical role in how environmental protection courts influence foreign investment behavior.

Keywords: Environmental protection courts; Corporate foreign investment behavior (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324011541

DOI: 10.1016/j.frl.2024.106125

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