Topic: Continuing the Red Gene: Revolutionary Tradition and Corporate Environmental Performance

Speaker: Liang Xiao

Date & Time: 13:30-15:00 Friday, November 10, 2023

Venue: Room 245, Quan Xue Building

Organizers: School of Accounting, Dongbei University of Finance and Economics, P.R. China & Liaoning Capital Market Finance and Accounting Graduate Innovation and Academic Exchange Center

Abstract:

The ecological environment governance system is an important element in adhering to and improving the socialist system with Chinese characteristics and promoting the modernization of the national governance system and governance capacity. Based on the logic of institution building and taking into account the historical and cultural background of Chinese society, this paper analyzes the governance role of Chinese revolutionary tradition on corporate environmental performance, using Shanghai and Shenzhen non-financial listed enterprises from 2007 ~ 2017 as the study sample. The paper has found that the environmental performance of listed enterprises is better when their offices are located in old revolutionary districts and counties, and the above findings still hold after a series of robustness tests and controlling for endogeneity, suggesting that Chinese revolutionary traditions have a facilitating effect on companies' environmental performance. Further research showed that the above relationship was weakened in the context of a stronger legal environment, the implementation of the new Environmental Protection Law, and the establishment of environmental courts, suggesting a moderating role of the formal system on the relationship between revolutionary traditions and environmental performance. In addition, the contribution of revolutionary traditions to environmental performance is stronger in companies where Party Committee members are on the board of directors. However, the role of revolutionary traditions is less pronounced in companies that have hired overseas directors and in companies whose executives have overseas experience. The findings of this paper enrich the role of institutional theory in environmental governance, and also provide new ideas and insights for the construction of ecological civilization.

Introduction of Speaker:

Liang Xiao has a PhD in Accounting from Xiamen University. His main research interests focus on institutional (formal and informal) environment and corporate accounting and auditing behavior, disclosure of supply chain information, and corporate strategic alliances. He has published 7 papers in Journal of Business Ethics (FT50, 2 papers), Journal of Management Sciences in China and other SSCI and CSSCI journals, and served as an anonymous reviewer for Journal of Business Ethics, Applied Economics, Emerging Markets Finance and Trade, and Finance Research Letters.

Special Attention:

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