Peer effects on corporate environmental protection: Competition, information cascades or career concerns?

被引：0

作者：

Liang, Quanxi ^{[1
]}

Li, Qiumei ^{[2
]}

Lu, Meiting ^{[3
]}

Shan, Yaowen ^{[4
]}

Wang, Peipei ^{[5
]}

机构：

[1] Guangxi Univ, Sch Econ, Nanning, Peoples R China

[2] Guangxi Univ Finance & Econ, Sch Business Adm, Nanning, Peoples R China

[3] Macquarie Univ, Macquarie Business Sch, Sydney, Australia

[4] Univ Technol Sydney, UTS Business Sch, Sydney, Australia

[5] Deakin Univ, Deakin Business Sch, Burwood, Australia

来源：

PACIFIC-BASIN FINANCE JOURNAL | 2024年 / 84卷

基金：

中国国家自然科学基金; 澳大利亚研究理事会;

关键词：

Environmental protection performance; Peer effects; Information cascades; Career concerns; SOCIAL-RESPONSIBILITY; INTERNATIONAL EVIDENCE; FINANCIAL PERFORMANCE; FIRM PERFORMANCE; CSR; CHINA; DETERMINANTS; CONSERVATISM; MECHANISMS; LEGITIMACY;

D O I：

10.1016/j.pacfin.2024.102313

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines peer influence, and its underlying motives, on environmental protection performance. We find consistent evidence of peer effects on environmental protection performance among Chinese firms. When the average environmental protection score of industry peers increases by one point, the focal firm imitates and increases its future environmental score by 5.7%. We find that such peer effects are largely due to information cascades and managerial career concerns. Additional tests show that peer effects are more pronounced among non-stateowned enterprises and firms in low-polluting areas with a high pressure of regional economic growth.

引用

页数：26

共 26 条

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