Public environmental concern, CEO turnover, and green investment: Evidence from a quasi-natural experiment in China

被引：218

作者：

Gu, Yan ^{[1
]}

Ho, Kung-Cheng ^{[2
]}

Yan, Cheng ^{[3
]}

Gozgor, Giray ^{[4
]}

机构：

[1] Fudan Univ, Fanhai Int Sch Finance, Shanghai 200433, Peoples R China

[2] Guangdong Univ Finance & Econ, Pearl River Delta Collaborat Innovat Ctr Sci Fina, Pearl River, NY, Peoples R China

[3] Univ Essex, Essex Business Sch, Colchester, Essex, England

[4] Istanbul Medeniyet Univ, Istanbul, Turkey

来源：

ENERGY ECONOMICS | 2021年 / 100卷

关键词：

Public environmental concern; ESG; CEO turnover; Smog; Extreme event; AIR-POLLUTION; PERFORMANCE; PRODUCTIVITY; TECHNOLOGY; SUSTAINABILITY; EXPOSURE; IMPACTS;

D O I：

10.1016/j.eneco.2021.105379

中图分类号：

F [经济];

学科分类号：

020101 [政治经济学];

摘要：

We investigate the impact of public environmental concern (PEC) on corporate green investments from the perspective of CEO turnover using the extreme event of PM 2.5 surge at the end of 2011 in China as a quasinatural experiment. Compared with non-heavily polluting companies, the probability of CEO turnover in heavily polluting ones has significantly increased amid the surge of PEC. Heavily polluting companies ease the pressure by increasing green investment. In addition to the hard regulative measures such as environmental regulations, the PEC as a form of soft regulation also makes corporate management more focused on environmental responsibility.

引用

页数：11

共 51 条

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