Macroeconomic Policy Uncertainty and Corporate Environmental Violations
Curbing corporate environmental violations is the key to achieving high-quality green economic development.The en-vironmental protection behavior of enterprises depends not only on the management characteristics of enterprises,but also on the external economic policy environment.This study finds that higher macroeconomic policy uncertainty leads to a significant increase in corporate environmental violations,especially for non-state-owned enterprises.The influence of economic policy uncertainty on corporate environmental violations is mainly restricted by corporate investment level,financing constraints and operational performance.Further research finds that actively improving the marketization level and optimizing the legal environ-ment will help reduce the negative impact of economic policy uncertainty on corporate environmental behavior.The conclusion is still robust after testing by instrumental variable method.This paper not only expands the theoretical research on corporate environmental behavior from the perspective of macroeconomic policy,but also provides empirical evidence for exploring how to drive enterprises to practice green development in the new era.
economic policy uncertaintythe nature of property rightsgreen developmentenvironmental violation
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