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Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance

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  • Xiaofei Shi

    (School of Business Administration, Hebei University of Economics and Business, Shijiazhuang 050061, China
    Research Center for Corporate Governance and Enterprise Growth, Hebei University of Economics and Business, Shijiazhuang 050061, China)

  • Xuefen Cao

    (School of Business Administration, Hebei University of Economics and Business, Shijiazhuang 050061, China)

  • Yangshi Hou

    (School of Business Administration, Hebei University of Economics and Business, Shijiazhuang 050061, China)

  • Wenxin Xu

    (School of Business Administration, Hebei University of Economics and Business, Shijiazhuang 050061, China)

Abstract

Mixed ownership reform has contributed greatly to China’s economic development; however, there is little literature on how mixed ownership reform affects carbon performance in the context of environmentally sustainable development. Therefore, this paper takes A-share industrial state-owned enterprises in Shanghai and Shenzhen from 2008 to 2020 as research samples to investigate the impact of mixed ownership reform on carbon performance through empirical tests. The results show that the mixed ownership reform of state-owned enterprises can improve the carbon performance of enterprises. The intermediary test shows that green innovation plays an intermediary role in the relationship between mixed ownership reform and carbon performance. Furthermore, compared with green management innovation, mixed ownership reform has a stronger promoting effect on green technology innovation, and green technology innovation has a greater impact on carbon performance. Heterogeneity analysis shows that in heavily polluted industries and competitive industries, mixed ownership reform of state-owned enterprises has a more significant role in improving carbon performance. Therefore, the mixed ownership reform of state-owned enterprises is of great significance for promoting environmental sustainable development. Overall, this study provides empirical evidence for the environmental sustainable development of state-owned enterprises in emerging markets.

Suggested Citation

  • Xiaofei Shi & Xuefen Cao & Yangshi Hou & Wenxin Xu, 2023. "Mixed Ownership Reform and Environmental Sustainable Development—Based on the Perspective of Carbon Performance," Sustainability, MDPI, vol. 15(12), pages 1-21, June.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9809-:d:1174916
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    References listed on IDEAS

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    1. Zhang, Yue-Jun & Peng, Yu-Lu & Ma, Chao-Qun & Shen, Bo, 2017. "Can environmental innovation facilitate carbon emissions reduction? Evidence from China," Energy Policy, Elsevier, vol. 100(C), pages 18-28.
    2. Amore, Mario Daniele & Bennedsen, Morten, 2016. "Corporate governance and green innovation," Journal of Environmental Economics and Management, Elsevier, vol. 75(C), pages 54-72.
    3. Qian, Wei & Schaltegger, Stefan, 2017. "Revisiting carbon disclosure and performance: Legitimacy and management views," The British Accounting Review, Elsevier, vol. 49(4), pages 365-379.
    4. Liao, Lin & Luo, Le & Tang, Qingliang, 2015. "Gender diversity, board independence, environmental committee and greenhouse gas disclosure," The British Accounting Review, Elsevier, vol. 47(4), pages 409-424.
    5. Li, Li & Lei, Yalin & Wu, Sanmang & He, Chunyan & Yan, Dan, 2018. "Study on the coordinated development of economy, environment and resource in coal-based areas in Shanxi Province in China: Based on the multi-objective optimization model," Resources Policy, Elsevier, vol. 55(C), pages 80-86.
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    Cited by:

    1. Borui Guo & Xiaoxia Huang, 2023. "Role of Digital Transformation on Carbon Performance: Evidence from Firm-Level Analysis in China," Sustainability, MDPI, vol. 15(18), pages 1-18, September.

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