The Effects of Environmental Policy Stringency on Firms' Performances: Focusing on Korean Manufacturing Industry

被引：0
|
作者：
Lee, Jinhee [1 ]
Song, Cheol Jong [2 ]
机构：
[1] Natl Assembly Budget Off, Macroecon Anal Div, Seoul, South Korea
[2] Sun Moon Univ, Dept Global Econ, Asan, Chungcheongnam, South Korea
来源：
ASIAN-PACIFIC ECONOMIC LITERATURE | 2024年
基金：
新加坡国家研究基金会;
关键词：
EBIT; environmental policy stringency; environmental regulation; total cost; total sales; COMPETITIVENESS;
D O I：
10.1111/apel.12441
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study analysed how stringent environmental policy affects firms' performances in Korean manufacturing. The environmental policy stringency index published by the OECD was used as the main explanatory variable. As for the firms' performances variables, real total cost, real total sales and real EBIT were used, which capture the impact-response-outcome of environmental policies, respectively. By and large environmental policy stringency had a negative effect. Environmental policy stringency also had a more delayed effect on EBIT than on cost and sales. In addition, firms responded differently to the cost increase by firms' characteristics such as size and financial soundness.
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页数：14
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