Does a Board Chairman's Political Connection Affect Green Investment?-From a Sustainable Perspective

被引：29

作者：

Wang, Kai ^{[1
]}

Zhang, Hao-Min ^{[2
]}

Tsai, Sang-Bing ^{[3
]}

Wu, Li-Dong ^{[4
]}

Xue, Kun-Kun ^{[4
]}

Fan, He-Jun ^{[1
]}

Zhou, Jie ^{[5
]}

Chen, Quan ^{[3
]}

机构：

[1] Capital Univ Econ & Business, Coll Business Adm, Beijing 100070, Peoples R China

[2] Macau Univ Sci & Technol, Sch Business, Macau 999078, Peoples R China

[3] Univ Elect Sci & Technol China, Zhongshan Inst, Zhongshan 528402, Peoples R China

[4] Nankai Univ, China Acad Corp Governance, Tianjin 300071, Peoples R China

[5] Nankai Univ, Coll Tourism & Serv Management, Tianjin 300071, Peoples R China

来源：

SUSTAINABILITY | 2018年 / 10卷 / 03期

基金：

中国国家自然科学基金;

关键词：

green governance; green operation; political connection; resource exchange; manufacturing industry; sustainability; FIRM PERFORMANCE EVIDENCE; CORPORATE GOVERNANCE; ENVIRONMENTAL PERFORMANCE; EMPIRICAL-ANALYSIS; DISCLOSURE; OWNERSHIP; MARKET; INFORMATION; BUSINESS; FINANCE;

D O I：

10.3390/su10030582

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

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.

引用

页数：14

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