Corporate Competing Culture and Environmental Investment

Frontiers in Psychology

Shiyang Hu¹  Yikun Huang²  Qian Cheng³  Wei Cao³  Jinfang Tian³ 

[1] School of Economics and Business Administration, Chongqing University, Chongqing, China;School of Public Affairs Administration, China Agriculture University, Beijing, China;School of Statistics, Shandong University of Finance and Economics, Jinan, China;

关键词: competing culture;    environmental investment;    internal control quality;    corporate sustainable development;    MD&A;   

DOI  :  10.3389/fpsyg.2021.774173

来源: DOAJ

【 摘 要 】

Using Chinese listed companies as research setting, this paper constructs a measure of corporate competing culture through textual analysis on firms’ management discussion and analysis (MD&A) disclosures, and examines the impact of corporate competing culture on environmental investment. The results show that competing culture has a significant and positive impact on firms’ environmental investment, and the results remain robust to a battery of robustness tests. Moreover, the mediating analysis indicates that competing culture promotes corporate environmental investment through enhancing firms’ internal control quality. Furthermore, the heterogeneity results show that the positive impact of corporate competing culture on environmental investment is more pronounced in firms with larger size, stronger corporate governance, in high-polluting industry, and located in less developed regions. Our findings shed light on the importance of corporate competing culture and provide practical implications for corporate sustainable development.

【 授权许可】

Unknown