Ashton, John orcid.org/0000-0002-1132-0857, Wang, Yang and Zhang, Yifei (2024) Does Mutual Fund Ownership Increase Corporate Environmental Spending? JOURNAL OF BUSINESS RESEARCH. 114878. ISSN 0148-2963
Abstract
This paper examines how mutual fund ownership influences corporate environmental spending, and the channels through which this impact operates. Using a unique hand collected dataset of Chinese listed companies between 2011 and 2018, we report mutual fund investment is associated with significantly increased corporate environmental spending. This influence is moderated by institutional factors including state-owned enterprises and stronger legal environments. We also assess the environmental awareness associated with environmental spending through examining the number of ‘green’ questions raised by investors and the ‘green’ credentials of board members. Moreover, we find that mutual funds with green investment objectives have significantly increased corporate environmental spending levels. We conclude mutual find ownership has a positive influence on environmental spending and should be encouraged within China.
Metadata
Item Type: | Article |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | © 2024 Elsevier Inc. This is an author-produced version of the published paper. Uploaded in accordance with the University’s Research Publications and Open Access policy. |
Dates: |
|
Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > The York Management School |
Depositing User: | Pure (York) |
Date Deposited: | 05 Aug 2024 08:30 |
Last Modified: | 13 Dec 2024 00:13 |
Published Version: | https://doi.org/10.1016/j.jbusres.2024.114878 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1016/j.jbusres.2024.114878 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:215694 |