Corporate strategic aggression and environmental investment decisions: Evidence from A-share listed firms
Document Type
Article
Publication Date
10-1-2024
Abstract
Corporate strategy greatly influences corporate investment activities. This study seeks to better understand the relationship between the level of corporate strategic aggression and environmental investment decisions based on 2011-2020 data. We find that increasing the intensity of strategic aggression effectively increases environmental investment. Moreover, this effect is incentivized by good corporate environmental, social, and governance performance, innovation ability, and management tone manipulation. Although financing constraints may hinder the positive effects of corporate aggression on environmental investment, independent directors and corporate risk promote maximum positive effects. These findings enable companies to identify strategically motivating factors for improving environmental protection.
Keywords
Strategic aggressiveness, Environmental investment decision, ESG, Innovation ability, Management tone manipulation
Divisions
deptmarketing
Publication Title
International Review of Financial Analysis
Volume
95
Issue
C
Publisher
Elsevier
Publisher Location
STE 800, 230 PARK AVE, NEW YORK, NY 10169 USA