| Issue |
E3S Web Conf.
Volume 409, 2023
International Conference on Management Science and Engineering Management (ICMSEM 2023)
|
|
|---|---|---|
| Article Number | 05005 | |
| Number of page(s) | 11 | |
| Section | Economic and Social Effects | |
| DOI | https://doi.org/10.1051/e3sconf/202340905005 | |
| Published online | 01 August 2023 | |
The Influence of Environmental Protection Investment on Financial Risk of Shanghai and Shenzhen A-share Listed Companies An Empirical Study Based on Heavily Polluted Industries
1 Business School, Sichuan University, Chengdu 610065, People’s Republic of China
2 School of Economics and Management, Beijing University of Chemical Technology, Beijng 100020, People’s Republic of China
* e-mail: y1584759484@163.com
Green and sustainable development has been paid more and more attention by the state, and the control of environmental pollution has become the core problem to be solved in the national green sustainable development, so enterprises need to invest in environmental protection to improve the environment. In this paper, 106 listed companies in heavily polluted industries from 2015 to 2019 are selected, and the impact of environmental protection investment on financial risk is analyzed by using multiple regression model. It is found that the environmental protection investment of enterprises has a positive impact on the financial risk. Compared with the non-state-owned enterprises, the environmental protection investment of state-owned enterprises has a greater impact on financial risk. This paper reveals the effect of environmental protection investment in enterprises, and provides the basis for the government to actively guide enterprises. In this regard, this paper puts forward the following suggestions: enterprises can actively adjust the investment structure of environmental protection; the government can actively play to the role of independent directors.
Key words: Environmental protection / Financial risks of enterprises / Listed companies in heavily polluted industries / Human resource management
© The Authors, published by EDP Sciences, 2023
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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