Does Central Environmental Protection Inspection promote corporate green governance?
The Central Environmental Protection Inspection(CEPI)system,as a significant innovation in the field of ecological legal construction in China,serves as a crucial lever for promoting the harmonious coexistence of humans and nature.Using the launch of CEPI in 2016 as a quasi-natural experiment,this study employs a multi-period Difference-in-Differences approach to examine the impact of CEPI on cor-porate green governance.The research reveals that CEPI has a notably positive effect on corporate green governance.This finding remains valid after a series of robustness tests.Compared to the withdrawal of the CEPI team,the impact of their presence on the enhancement of corporate green governance levels is more pronounced.Results from mechanism analysis indicate that CEPI greatly improves corporate green govern-ance by mobilizing public participation in environmental supervision.Moderation effect test reveals thatthe more aggressive the corporate strategy and the longer the executive tenure,the greater the positive impact of CEPI on the level of corporate green governance.Heterogeneity analysis demonstrates that the effect of CE-PI on improving corporate green governance is more significant in the sample of"looking back"regions and areas with high environmental regulation.
Central Environmental Protection Inspectioncorporate green governancepublic participationcorporate strategyexecutive tenure
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