The Impact of China's New Environmental Law on the Financial Performance of Heavy Polluting Enterprises

被引：2
|
作者：
Jin, Xin [1 ]
Lei, Xue [1 ]
机构：
[1] Shanghai Maritime Univ, Sch Econ & Management, Shanghai, Peoples R China
来源：
POLISH JOURNAL OF ENVIRONMENTAL STUDIES | 2024年 / 33卷 / 04期
关键词：
FP; heavy pollution industry; policy; companies; PORTER HYPOTHESIS; INVESTMENTS;
D O I：
10.15244/pjoes/178199
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This study examines the impact of China's new environmental law (NEL, referring to the new Environmental Protection Law implemented in China in 2015, hereafter NEL) on the financial performance (FP) of Chinese A-share companies listed in the heavy pollution industry from 2011 to 2020. Using the DID approach, the study finds that the regulation initially has a negative impact but brings long-term positive results for these companies. It also highlights the impact of the regulation on financing opportunities and R&D investment, with smaller companies facing more significant challenges. Lastly, based on the study's findings, some policy suggestions are proposed to offer theoretical guidance and policy references for countries to achieve high-quality development.
引用
收藏
页码：3687 / 3699
页数：14
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