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Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms

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  • Conghua Hong

    (School of Economics and Business Administration, Chongqing University, Chongqing 400030, China)

  • Youliang Yan

    (School of Economics and Business Administration, Chongqing University, Chongqing 400030, China)

  • Xinxin Zhang

    (School of Economics and Business Administration, Chongqing University, Chongqing 400030, China)

Abstract

Although it is well established that the military experience of top executives has a profound influence on firms’ decisions, empirical evidence on how military experience matters to corporate environmental investment has been scarce. Drawn on imprinting theory and upper echelon theory, this study examines the impact of entrepreneurs’ military experience on corporate environmental investment. Using a nationwide survey of Chinese private firms, we find that entrepreneurs’ military experience significantly promotes corporate environmental investment. Further, the positive effect is more pronounced for firms with entrepreneurs who have experienced a wartime atmosphere and those located in regions with more minor public environmental concerns. Our study extends the literature on the determinants of corporate environmental investment and the economic consequences of individual military experience. Moreover, this also provides practical insights for policymakers on how to implement environmental governance and promote ecological construction.

Suggested Citation

  • Conghua Hong & Youliang Yan & Xinxin Zhang, 2022. "Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms," IJERPH, MDPI, vol. 19(4), pages 1-19, February.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:4:p:2104-:d:748391
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    Cited by:

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    2. Bin He & Mengzhen Qi & Ning Wang & Zhenhua Zhang, 2022. "Avoiding Real Harm but False Good: The Influence Mechanism of Political Relations on the Effectiveness of Environmental Regulation Policies," IJERPH, MDPI, vol. 19(23), pages 1-16, November.
    3. Lu, Chao & Zhu, Tianqi & Xia, Xiaoxue & Zhao, Ziying & Zhao, Yiwen, 2024. "Common institutional ownership and corporate green investment: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 1123-1149.

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