Is place-based supportive policy necessary to reduce corporate emissions? Firm-level evidence from China.

Although a considerable body of research has documented the effects of environmental regulation, spatially differentiated sustainability pressures in China call for diversified environmental governance policies. Based on the Sustainable Development Policy for Resource-based Cities (SDPRC) implemented in 2007, we adopt a staggered difference-in-differences approach using firm-level data to investigate the microeffects and mechanisms of place-based supportive policy on corporate emissions. We find strong and robust evidence that the SDPRC has significantly reduced corporate emissions.

Economic policy uncertainty and directors and officers liability insurance: a perspective on capital market pressures.

This study investigates the effects of economic policy uncertainty (EPU) on corporate purchases of directors and officers liability insurance from the perspective of capital market pressures. Using data on A-share Chinese listed firms from 2010 to 2021, our theoretical analysis and empirical tests reveal that higher levels of EPU increase purchases. The theoretical analysis and mediating tests reveal that capital market pressures play a mediating role in the relationship between EPU and purchases.

Does green credit policy mitigate financialization? Evidence from Chinese heavily polluting enterprises.

Green credit policy is an important tool to use financial credit resources to stimulate heavily polluting enterprises to change their production methods. This paper constructs a difference-in-differences model based on the quasi-natural experiment of the green credit policy promulgated in 2007 to explore the impact of environmental regulation on the financialization of heavily polluting enterprises and its mechanism. The empirical results show that the green credit policy significantly inhibits the financialization of heavily polluting enterprises, especially for speculative financial assets.