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Munich Personal RePEc Archive

Corporate performance under air pollution control: Evidence from “Atmosphere Ten Articles” Policy

Li, Shiyuan (2021): Corporate performance under air pollution control: Evidence from “Atmosphere Ten Articles” Policy.

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Abstract

Enterprises who are the most responsible for air pollution are also constrained by environmental protection policies the most. As the strictest environmental policy in China, Atmosphere Ten Articles carries the task to balance the relationship between the ecology and economic development. This paper analyzes the impact of this policy on enterprise performance from two perspectives: social performance and economic performance. The corporate life cycle theory is also integrated into the policy evaluation, and enterprise ownership heterogeneity is analyzed. Through decomposition, we found that the policy can promote the enterprises’ economic performance through technological innovation and resource allocation effect. This paper extends the existing environmental policy evaluation framework and provides empirical reference for future research.

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