| Issue |
E3S Web Conf.
Volume 275, 2021
2021 International Conference on Economic Innovation and Low-carbon Development (EILCD 2021)
|
|
|---|---|---|
| Article Number | 01033 | |
| Number of page(s) | 4 | |
| Section | Energy Application and Ecological Resource Sustainability | |
| DOI | https://doi.org/10.1051/e3sconf/202127501033 | |
| Published online | 21 June 2021 | |
Can firm environmental performance affect stock liquidity: Evidence from Chinese A share market
1
School of Accounting, Henan University of Economic and Law, Zhengzhou, China
2
Swansea Business Campus, University of Wales Trinity Saint David, Swansea, UK
* Corresponding author: yejianhua99@sina.com
CHINDICES’ environmental performance rating was used to proxy for the environmental performance of the sample companies in Chinese stock market. Portfolios analysis method and Ordinary Least Square(OLS)method was used to examine the relationship between the environmental performance and stock liquidity. Results based on the investigations indicated that firm environmental performance have a negative and significant relationship with the level of stock liquidity in whose firms with high environmental performance ratings, whereas this relationship is positive and significant in whose firms with low environmental performance rating s, and the relationship between environmental performance and stock liquidity is a inverted-U shape. This research enrich the researches on determinants of stock liquidity, and is also helpful for firms to comprehensive evaluate their environmental related decision making.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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