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Institutional ownership and corporate greenhouse gas emissions: The evidence from China

Ren, Xingzi; Dong, Yizhe; Guo, Jie Michael; Liu, Yaodong

Authors

Xingzi Ren

Yizhe Dong

Yaodong Liu



Abstract

This paper examines the impact of corporate ownership structure on greenhouse gas (GHG) emissions in China, with a focus on the role of institutional investors. Using data on Chinese listed companies, we find that institutional ownership has a significant negative effect on corporate GHG emissions. We also observe that pressure-resistant institutional investors and qualified foreign institutional investors have a more substantial impact on reducing emissions. Our results suggest that institutional investors act as active monitors, influencing corporate behavior through both “exit and selection” and “voice” mechanisms. Furthermore, we find that institutional investors are more concerned with policy uncertainty risk than physical risk. These findings have implications for policymakers and investors seeking to promote sustainable development and address climate change.

Journal Article Type Article
Acceptance Date Aug 31, 2023
Online Publication Date Sep 1, 2023
Publication Date 2023-12
Deposit Date Sep 14, 2023
Publicly Available Date Mar 2, 2025
Journal Pacific-Basin Finance Journal
Print ISSN 0927-538X
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 82
Article Number 102135
DOI https://doi.org/10.1016/j.pacfin.2023.102135
Public URL https://durham-repository.worktribe.com/output/1737331

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This file is under embargo until Mar 2, 2025 due to copyright restrictions.




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