Does a Board Chairman’s Political Connection Affect Green Investment?—From a Sustainable Perspective

Kai Wang, Hao-Min Zhang, Sang-Bing Tsai, Li-Dong Wu, Kun-Kun Xue, He-Jun Fan, Jie Zhou and Quan Chen
Additional contact information
Kai Wang: College of Business Administration, Capital University of Economics and Business, Beijing 100070, China
Hao-Min Zhang: School of Business, Macau University of Science and Technology, Macau 999078, China
Sang-Bing Tsai: Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528402, China
Li-Dong Wu: China Academy of Corporate Governance, Nankai University, Tianjin 300071, China
Kun-Kun Xue: China Academy of Corporate Governance, Nankai University, Tianjin 300071, China
He-Jun Fan: College of Business Administration, Capital University of Economics and Business, Beijing 100070, China
Jie Zhou: College of Tourism and Service Management, Nankai University, Tianjin 300071, China
Quan Chen: Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528402, China

Sustainability, 2018, vol. 10, issue 3, 1-14

Abstract: Using a sample consisting of China’s listed manufacturing companies which issue A-shares on the Shenzhen and Shanghai stock exchanges from 2008–2014, this study empirically tests the relationship between board chairman’s political connections and the amount of energy conservation and emission reduction investment. The results show that the existence of politically-connected board chairmen positively affects green investment. In addition, marketization degrees negatively moderate the relationship between political connection and green investment, which supports an institutional logic perspective. The amount of redundant resources also has the same moderating effect, which is consistent with the resource exchange perspective.

Keywords: green governance; green operation; political connection; resource exchange; manufacturing industry; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.mdpi.com/2071-1050/10/3/582/pdf (application/pdf)
https://www.mdpi.com/2071-1050/10/3/582/ (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:jsusta:v:10:y:2018:i:3:p:582-:d:133355

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

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