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- Title
The Impact of China’s New Environmental Law on the Financial Performance of Heavy Polluting Enterprises.
- Authors
Xin Jin; Xue Lei
- Abstract
This study examines the impact of China’s new environmental law (NEL, referring to the new Environmental Protection Law implemented in China in 2015, hereafter NEL) on the financial performance (FP) of Chinese A-share companies listed in the heavy pollution industry from 2011 to 2020. Using the DID approach, the study finds that the regulation initially has a negative impact but brings long-term positive results for these companies. It also highlights the impact of the regulation on financing opportunities and R&D investment, with smaller companies facing more significant challenges. Lastly, based on the study’s findings, some policy suggestions are proposed to offer theoretical guidance and policy references for countries to achieve high-quality development.
- Subjects
CHINA; ENVIRONMENTAL law; FINANCIAL performance; ENVIRONMENTAL protection; INDUSTRIAL pollution; SMALL business; CHINESE corporations
- Publication
Polish Journal of Environmental Studies, 2024, Vol 33, Issue 4, p3687
- ISSN
1230-1485
- Publication type
Article
- DOI
10.15244/pjoes/178199