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| Environmental Responsibility Audit of Local Officials and Enterprise Environmental Protection Investment |
| HUANG Rongbing, XIE Xiaojun |
| School of Accounting, Zhejiang Gongshang University |
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Abstract: In this paper, considering China's phased implementation of Off-Office Audit of the Natural Resources Assets of Leading Cadres, by matching the heavily polluted enterprises in A-shares with the cities where the enterprises are located, and constructing a multi period difference-in-difference model, the impact of local officials' environmental responsibility audit on enterprise environmental protection investment are discussed. The empirical results show that the audit pilot can significantly improve the level of internal environmental protection investment and green M & A expenditure of the treatment group. The results of sub sample test show that due to the differences in the local air quality, tenure and source of local officials, and the nature of enterprise property rights, it may lead to different promotion pressure and performance appraisal mode, and then have a heterogeneous impact on enterprise environmental protection investment. The mechanism test shows that during the audit pilot period, local governments mainly promote enterprises to carry out environmental governance investment by strengthening environmental supervision. The research of this paper provides empirical evidence and policy enlightenment for investigating the micro policy effect of Off-Office Audit of the Natural Resources Assets of Leading Cadres.
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Received: 09 May 2022
Published: 15 September 2022
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2022, Vol. 42 
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