Environmental Information Regulation,Corporate Carbon Reduction,and Geographical Spillover Effects
Based on fixed effects panel model and panel data from Chinese listed companies spanning between 2017 and 2021,the influence of environmental information regulation on the reduction of corporate carbon emissions was examined.It is found that environmental information regulations exert a notably positive effect on the mitigation of corporate carbon emissions.Carbon emissions of designated polluting enterprises are observed to markedly decrease in the second year after being regulated.In addition,the efficiency of environmental regulatory policies in reducing carbon emissions extends beyond the directly regulated entities,manifesting in a geographical spillover that leads to a reduction in carbon emissions among non-regulated enterprises within a 20km radius.Heterogeneity analysis reveals that the regulation has a more significant effect on non-state-owned companies,those located in the eastern regions,and those possess lower levels of technology.Furthermore,the environmental information regulation affect the carbon emissions reduction of enterprises continuously.The empirical findings provide new theoretical insights for government agencies,supporting the use of environmental information regulation as a tool to promote corporate green transformation.
environmental information regulationkey polluting unitsspatial spillover