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Compromise or struggle: Extreme temperatures and environmental corporate social responsibility in China

Author

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  • Zhang, Jing
  • Li, Meng

Abstract

This article uses China's A-share listed companies from 2008 to 2020 as a sample to examine the impact of extreme temperatures on environmental corporate social responsibility (ECSR). The results show that extreme temperatures can significantly enhance companies' performance of ECSR. Extreme temperatures primarily compel companies to engage in ECSR activities by increasing the costs of debt financing, reducing income levels, and intensifying government environmental regulations, thereby mitigating the negative impact of extreme temperature events on corporate production and operation activities. Further research found that in SOEs, companies with high government subsidies, and companies with executives with overseas experience, extreme temperatures have a more significant role in promoting ECSR. This article provides a novel perspective and micro-evidence for studying the external driving factors of ECSR, and provides useful enlightenment for managing climate risks and realizing the green and low-carbon transformation of China's economy.

Suggested Citation

  • Zhang, Jing & Li, Meng, 2024. "Compromise or struggle: Extreme temperatures and environmental corporate social responsibility in China," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1872-1894.
    • Handle: RePEc:eee:ecanpo:v:84:y:2024:i:c:p:1872-1894
    DOI: 10.1016/j.eap.2024.11.010
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    More about this item

    Keywords

    Extreme temperatures; Environmental corporate social responsibility; Corporate governance; Environmental regulation; Green development;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis

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