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Article

Can Mandatory Disclosure Policies Promote Corporate Environmental Responsibility?—Quasi-Natural Experimental Research on China

by 1, 2,* and 3,*
1
Hunan Institute of Technology, School of Economics and Management, Hengyang 421000, China
2
Economics and Finance Group, Portsmouth Business School, University of Portsmouth, Portsmouth PO1 3DE, UK
3
School of Finance and Statistics, Hunan University, Changsha 410079, China
*
Authors to whom correspondence should be addressed.
Academic Editors: Alfredo Rocha and Ricardo Almendra
Int. J. Environ. Res. Public Health 2021, 18(11), 6033; https://0-doi-org.brum.beds.ac.uk/10.3390/ijerph18116033
Received: 10 May 2021 / Revised: 27 May 2021 / Accepted: 31 May 2021 / Published: 3 June 2021
(This article belongs to the Special Issue Climate Change and Environment Health)
Corporate environmental responsibility (CER) is an important component of the corporate social responsibility (CSR) report, and an important carrier for enterprises to disclose environmental protection information. Based on the corporate micro data, this paper evaluates the effect of a mandatory CSR disclosure policy on the fulfillment of corporate environmental responsibility by adopting the difference-in-differences model (DID) with the release of a mandatory disclosure policy of China in 2008 as a quasi-natural experiment. The study draws the following conclusions: First, a mandatory CSR disclosure policy can promote the fulfillment of CER. Second, after the implementation of a mandatory CSR disclosure policy, enterprises can improve their CER level through two channels: improving the quality of environmental management disclosure and increasing the number of patents. Third, the heterogeneity of the impacts of mandatory CSR disclosure on CER is reflected in three aspects: different CER levels, different corporate scales and a different property rights structure. In terms of the CER level, there is an inverted U-shaped relationship between the CER level and mandatory CSR disclosure effect. In terms of the corporate scale, mandatory disclosure of CSR plays a greater role in large-scale enterprises. In terms of the structure of property rights, mandatory CSR disclosure has a greater effect on non-state-owned enterprises. View Full-Text
Keywords: mandatory disclosure; corporate environmental responsibility; difference-in-differences (DID) model mandatory disclosure; corporate environmental responsibility; difference-in-differences (DID) model
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MDPI and ACS Style

Liu, Y.; Failler, P.; Chen, L. Can Mandatory Disclosure Policies Promote Corporate Environmental Responsibility?—Quasi-Natural Experimental Research on China. Int. J. Environ. Res. Public Health 2021, 18, 6033. https://0-doi-org.brum.beds.ac.uk/10.3390/ijerph18116033

AMA Style

Liu Y, Failler P, Chen L. Can Mandatory Disclosure Policies Promote Corporate Environmental Responsibility?—Quasi-Natural Experimental Research on China. International Journal of Environmental Research and Public Health. 2021; 18(11):6033. https://0-doi-org.brum.beds.ac.uk/10.3390/ijerph18116033

Chicago/Turabian Style

Liu, Yue, Pierre Failler, and Liming Chen. 2021. "Can Mandatory Disclosure Policies Promote Corporate Environmental Responsibility?—Quasi-Natural Experimental Research on China" International Journal of Environmental Research and Public Health 18, no. 11: 6033. https://0-doi-org.brum.beds.ac.uk/10.3390/ijerph18116033

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