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Natural resources and assets accountability audit of local officials and government subsidies: evidence from China

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  • Lei Zhu
  • Yuyu Liu
  • Chun Cai

Abstract

In 2014, the Chinese central government required implementing natural resource and asset accountability audit for local officials to promote environmental governance. From the perspective of government subsidy allocation, this paper examines whether and how the new government audit policy influences the strategy of local governments to high-polluting firms. We adopt a multi-period difference-in-difference research design and find that after the policy implementation, local officials pay more attention to local ecological performance, thus, reducing the government subsidies to high-polluting enterprises. They also reduce support for high-polluting by reducing tax incentives. These findings document that the implementation of government audit policy weakens the collusion between local officials and high-polluting firms, which enriches the intercross investigation between government audit and environmental governance.

Suggested Citation

  • Lei Zhu & Yuyu Liu & Chun Cai, 2023. "Natural resources and assets accountability audit of local officials and government subsidies: evidence from China," Applied Economics Letters, Taylor & Francis Journals, vol. 30(7), pages 981-985, April.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:7:p:981-985
    DOI: 10.1080/13504851.2022.2030854
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    Cited by:

    1. PENG, Langchuan & LI, Hao, 2024. "Environmental governance and firm's environmental investment: Evidence from the natural resources and assets accountability audit of outgoing officials," Finance Research Letters, Elsevier, vol. 65(C).
    2. Jianhua Tan & Kam C. Chan & Runkai Niu, 2024. "Do anticipated government environmental audits promote corporate social responsibility? Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3884-3901, September.

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