AUTHOR=Zou Ling , Ma Jiejing 

TITLE=Do state-owned participation shareholders improve the environmental governance level of private enterprises? Evidence from Chinese listed firms

JOURNAL=Frontiers in Environmental Science

VOLUME=Volume 11 - 2023

YEAR=2023

URL=https://www.frontiersin.org/journals/environmental-science/articles/10.3389/fenvs.2023.1053200

DOI=10.3389/fenvs.2023.1053200

ISSN=2296-665X

ABSTRACT=In recent years, whether the mixed-ownership reform system of introducing state-owned participation shareholders into private enterprises helps to improve the environmental governance of private enterprises has been a matter of much attention and discussion. Based on data from 2007-2019 for Chinese A-share private listed companies, this paper examines how the state-owned participation shareholders affect the environmental governance level of private enterprises. The results show that state-owned participating shareholder participation will significantly improve the environmental governance level of private enterprises, and this phenomenon is more significant among industrial enterprises and enterprises in regions with a higher degree of marketization. Furthermore, there is a substitution effect between state-owned participation shareholders, the executive team’s participation in politics, and Party organization establishment in improving the environmental governance level of enterprises, and the role played by state-owned participation shareholders is much larger than that played by the executive team’s participant in politics and Party organization establishment. In addition, the supervision effect is better when state-owned participation shareholders are from the local area and have a higher level of participation.