Does environmental investment improve corporate productivity? Evidence from Chinese listed firms
Chao Wang and
Yue-Jun Zhang ()
Structural Change and Economic Dynamics, 2024, vol. 70, issue C, 398-409
Abstract:
This paper analyses the impact mechanisms of environmental investment on the productivity of listed firms in China. The empirical results show that, first of all, environmental investment has a significant negative impact on the productivity of listed firms, which confirms that listed firms have a typical compliance cost effect. Moreover, listed enterprises with low productivity and high productivity are less negatively affected by environmental investment than are listed enterprises with moderate productivity. Secondly, the first-order lag term of environmental investment has a significant inhibitory effect on the productivity of listed companies in the eastern region, but has no significant impact on the productivity of listed companies in the central and western regions. Finally, the increase in environmental investment has a great influence on the productivity of listed firms in heavily polluting industries, but it has no obvious influence on non-heavily polluting industries.
Keywords: Environmental investment; Firm productivity; Technological innovation; Heavily polluting industry; State-owned firms (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0954349X24000626
Full text for ScienceDirect subscribers only
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:eee:streco:v:70:y:2024:i:c:p:398-409
DOI: 10.1016/j.strueco.2024.05.007
Access Statistics for this article
Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen
More articles in Structural Change and Economic Dynamics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().