ORIGINAL RESEARCH
The Influence Mechanism of Public Environmental
Concern on the Corporate Environmental
Responsibility: Evidence from China
More details
Hide details
1
Department of Business, Zhengzhou University, Zhengzhou, 450001, PR China
2
Hefei Institutes of Physical Science, Chinese Academy of Sciences, Hefei,230031, PR China
Submission date: 2024-04-11
Final revision date: 2024-06-05
Acceptance date: 2024-06-12
Online publication date: 2024-09-13
Publication date: 2025-05-09
Corresponding author
Yafeng Liu
Hefei Institutes of Physical Science, Chinese Academy of Sciences, Hefei,230031, PR China
Pol. J. Environ. Stud. 2025;34(4):4201-4219
KEYWORDS
TOPICS
ABSTRACT
This study examines the influence of public environmental concern on corporate environmental
responsibility (CER) in China, utilizing panel data spanning from 2012 to 2022. Employing a panel
threshold model, we investigate the moderating role of equity concentration in this relationship.
Our findings reveal a positive association between heightened public environmental concern
and increased CER. However, this positive effect is attenuated when equity concentration surpasses
a specific threshold, indicating a potential impediment to CER under concentrated ownership structures.
Further analysis elucidates the underlying mechanism, demonstrating that public environmental
concern enhances CER by fostering executive environmental awareness—an internal driving force.
Additionally, we identify a negative moderating effect of environmental taxes and fees-an external
factor-on the relationship between public environmental concern and CER. This study contributes
to the existing literature by providing novel insights into CER drivers. It encompasses both internal
organizational factors and external institutional pressures within China’s rapidly developing economy.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
REFERENCES (42)
1.
CHO C.H., PATTEN D.M. The role of environmental disclosures as tools of legitimacy: A research note. Accounting Organizations and Society, 32 (7), 639, 2007.
https://doi.org/10.1016/j.aos.....
2.
WANG L., LIU B., HE Y., DONG Z., WANG S. Have public environmental appeals inspired green total factor productivity? empirical evidence from Baidu Environmental Search Index. Environmental Science and Pollution Research, 30 (11), 30237, 2022.
https://doi.org/10.1007/s11356... PMid:36427122.
3.
WU W., WANG W., ZHANG M. Does internet public participation slow down environmental pollution? Environmental Science & Policy, 137, 22, 2022.
https://doi.org/10.1016/j.envs....
5.
ZHAO X., FANG L., ZHANG K. Online search attention, firms' ESG and operating performance. International Review of Economics & Finance, 88, 223, 2023.
https://doi.org/10.1016/j.iref....
6.
LIU L., ZHOU S. Environmental regulation, public environmental concern, and pollution reduction. Managerial and Decision Economics, 4011, 2023.
https://doi.org/10.1002/mde.40....
7.
KARASSIN O., BAR-HAIM A. Multilevel corporate environmental responsibility. Journal of Environmental Management, 183, 110, 2016.
https://doi.org/10.1016/j.jenv... PMid:27595527.
8.
BAI G., MENG D. Assessing Influence Mechanism of Management Overconfidence, Corporate Environmental Responsibility and Corporate Value: The Moderating Effect of Government Environmental Governance and Media Attention. International Journal of Environmental Research and Public Health, 20 (1), 577, 2023.
https://doi.org/10.3390/ijerph... PMid:36612900 PMCid:PMC9818996.
9.
LIEM N.T., KHUONG N.V., THU P.A. Social and environmental contributions, board size and cash holding: the case of energy firms. International Journal of Energy Economics and Policy, 10 (4), 17, 2020.
https://doi.org/10.32479/ijeep....
10.
MENICUCCI E., PAOLUCCI G. Board Diversity and ESG Performance: Evidence from the Italian Banking Sector. Sustainability, 14 (20), 13447, 2022.
https://doi.org/10.3390/su1420....
11.
HUSSAIN N., KHAN S.A., NGUYEN D.K., STOCCHETTI A., CORBET S. Board‐level governance and corporate social responsibility: A meta‐analytic review. Journal of Economic Surveys, 12603, 2023.
https://doi.org/10.1111/joes.1....
12.
BOLOURIAN S., ALINAGHIAN L., ANGUS A. Exploring the role of board-level corporate social responsibility committees in corporate social responsibility performance: A configurational approach. Journal of Business Research, 169, 114280, 2023.
https://doi.org/10.1016/j.jbus....
13.
SAIYED A.A., TATOGLU E., ALI S., DUTTA D.K. Entrepreneurial orientation, CEO power and firm performance: an upper echelons theory perspective. Management Decision, 61 (6), 1773, 2023.
https://doi.org/10.1108/MD-05-....
14.
MADRID‐GUIJARRO A., DURÉNDEZ A. Sustainable development barriers and pressures in SMEs: The mediating effect of management commitment to environmental practices. Business Strategy and the Environment, 33 (2), 949, 2024.
https://doi.org/10.1002/bse.35....
15.
LIN L., YU S., HUANG X., TU X., HONG J. Study on Equilibrium Relationship Between Government Regulation and Social Environmental Responsibility of Energy Enterprises. IOP Conference Series: Earth and Environmental Science, 632 (3), 032028, 2021.
https://doi.org/10.1088/1755-1....
16.
YAN X.J. Media attention, urban environmental regulation and corporate environmental responsibility. Finance Research Letters, 58, 2023.
https://doi.org/10.1016/j.frl.....
18.
CHEN H. Can the carbon emissions trading improve the enterprise environmental responsibility? Environmental Science and Pollution Research, 30 (29), 73361, 2023.
https://doi.org/10.1007/s11356... PMid:37184784 PMCid:PMC10183310.
20.
NEELY B.H., LOVELACE J.B., COWEN A.P., HILLER N.J. Metacritiques of Upper Echelons Theory: Verdicts and Recommendations for Future Research. Journal of Management, 46 (6), 1029, 2020.
https://doi.org/10.1177/014920....
21.
MAARTENSSON H., LOI N.M. Exploring the relationships between risk perception, behavioural willingness, and constructive hope in pro-environmental behaviour. Environmental Education Research, 28 (4), 600, 2022.
https://doi.org/10.1080/135046....
22.
HUSSAIN Y., ABBASS K., USMAN M., REHAN M., ASIF M. Exploring the mediating role of environmental strategy, green innovations, and transformational leadership: the impact of corporate social responsibility on environmental performance. Environmental Science and Pollution Research, 29 (51), 76864, 2022.
https://doi.org/10.1007/s11356... PMid:35670933.
23.
IWASAKI I., MIZOBATA S. Ownership Concentration and Firm Performance in European Emerging Economies: A Meta-Analysis. Emerging Markets Finance and Trade, 56 (1), 32, 2020.
https://doi.org/10.1080/154049....
24.
WANG T., CHENG D. Executive shareholding, institutional investor shareholding and enterprise innovation. European Journal of Innovation Management, 26 (1), 2022.
https://doi.org/10.1108/EJIM-1....
25.
GUERRERO-VILLEGAS J., GIRÁLDEZ-PUIG P., PÉREZ-CALERO SÁNCHEZ L., HURTADO-GONZÁLEZ J.M. Ownership concentration and firm performance: the moderating effect of the monitoring and provision of resources board roles. Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad, 47 (4), 464, 2018.
https://doi.org/10.1080/021024....
26.
WILLIAMS R.C. Tax normalizations, the marginal cost of funds, and optimal environmental taxes. Economics Letters, 71 (1), 137, 2001.
https://doi.org/10.1016/S0165-....
27.
ELMASSRI M., KUZEY C., UYAR A., KARAMAN A.S. Corporate social responsibility, business strategy and governance performance. Management Decision, 61 (10), 3106, 2023.
https://doi.org/10.1108/MD-09-....
28.
BROWN M.A., STOPA L. The spotlight effect and the illusion of transparency in social anxiety. Journal of Anxiety Disorders, 21 (6), 804, 2007.
https://doi.org/10.1016/j.janx... PMid:17166695.
29.
BARON R.M., KENNY D.A. The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51 (6), 1173, 1986.
https://doi.org/10.1037//0022-... PMid:3806354.
30.
HANSEN B.E. Threshold effects in non-dynamic panels: Estimation, testing, and inference. Journal of Econometrics, 93 (2), 345, 1999.
https://doi.org/10.1016/S0304-....
31.
WANG H. Factor analysis of corporate environmental responsibility: From the stakeholder theory perspective. Environment, Development and Sustainability, 12 (4), 481, 2010.
https://doi.org/10.1007/s10668....
32.
DU X., JIAN W., ZENG Q., DU Y. Corporate Environmental Responsibility in Polluting Industries: Does Religion Matter? Journal of Business Ethics, 124 (3), 485, 2014.
https://doi.org/10.1007/s10551....
33.
GUO M., KUAI Y., LIU X. Stock market response to environmental policies: Evidence from heavily polluting firms in China. Economic Modelling, 86, 306, 2020.
https://doi.org/10.1016/j.econ....
34.
KAHN M.E., KOTCHEN M.J. Business cycle effects on concern about climate change: the chilling effect of recession. Climate Change Economics, 02 (03), 257, 2011.
https://doi.org/10.1142/S20100....
35.
EL OUADGHIRI I., GUESMI K., PEILLEX J., ZIEGLER A. Public Attention to Environmental Issues and Stock Market Returns. Ecological Economics, 180, 106836, 2021.
https://doi.org/10.1016/j.ecol....
36.
ILHAN-NAS T., OKAN T., TATOGLU E., DEMIRBAG M., GLAISTER K.W. The effects of ownership concentration and institutional distance on the foreign entry ownership strategy of Turkish MNEs. Journal of Business Research, 93, 173, 2018.
https://doi.org/10.1016/j.jbus....
38.
PENG C., ZHAO L., LIU L.W., CHEN J. The Influence of Environmental Protection Tax Law on Urban Land Green Use Efficiency in China: The Nonlinear Moderating Effect of Tax Rate Increase. Sustainability, 15 (16), 2023.
https://doi.org/10.3390/su1516....
39.
DURIAU V.J., REGER R.K., PFARRER M.D. A content analysis of the content analysis literature in organization studies - Research themes, data sources, and methodological refinements. Organizational Research Methods, 10 (1), 5, 2007.
https://doi.org/10.1177/109442....
40.
PEDRONI P. Panel cointegration: Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric Theory, 20 (3), 597, 2004.
https://doi.org/10.1017/S02664....
41.
BRENT D.A. The Value of Heterogeneous Property Rights and the Costs of Water Volatility. American Journal of Agricultural Economics, 99 (1), 73, 2017.
https://doi.org/10.1093/ajae/a....
42.
WAN Y.Y., SHENG N., WEI X.Y., SU H.Y. Study on the spatial spillover effect and path mechanism of green finance development on China's energy structure transformation. Journal of Cleaner Production, 415, 2023.
https://doi.org/10.1016/j.jcle....