| Title |
Green mergers and acquisitions and corporate environmental responsibility: Substantial transformation or strategic arbitrage? |
| ID_Doc |
31877 |
| Authors |
Shi, PH; Huang, QH |
| Title |
Green mergers and acquisitions and corporate environmental responsibility: Substantial transformation or strategic arbitrage? |
| Year |
2024 |
| Published |
|
| DOI |
10.1016/j.eap.2024.08.013 |
| Abstract |
Green mergers and acquisitions (GM&A) are pivotal for attaining green competitive advantages and fostering sustainable development. This study exploits data from Chinese publicly traded companies spanning 2010-2021 to examine the impact of GM&A on corporate environmental responsibility (CER). Utilizing a difference-in-differences design, the results document that GM&A significantly enhances firms' environmental responsibility. This conclusion remains robust after a comprehensive set of checks. GM&A spurs green technology innovation, eases financial constraints, and elevates corporate environmental awareness, thus mitigating environmental pollution. Additionally, the positive impact of GM&A on CER is particularly pronounced in regions with high market liberalization and firms with substantial social capital. These findings offer valuable insights for policymakers crafting GM&A policies to raise environmental quality and contribute to the literature on the relationship between GM&A and CER. |
| Author Keywords |
Green mergers and acquisitions; Corporate environmental responsibility; Green innovation; Environmental awareness; Ecological development |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001298336200001 |
| WoS Category |
Economics |
| Research Area |
Business & Economics |
| PDF |
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