Abstract
External regulation is crucial for environmental protection. This study investigates the impact of media attention on corporate environmental governance from 2011 to 2021, using China’s public companies as our samples. The empirical results indicate that media attention consistently and significantly enhances corporate environmental governance. This effect remains robust across endogeneity considerations and alternative tests. Additionally, in regions with higher marketization and stronger rule of law frameworks, the efficacy of media attention in improving corporate environmental performance becomes remarkably pronounced. Further analysis unveils that media attention positively impacts environmental governance by elevating public awareness, refining internal management efficiency, and fostering innovative strategies for minimizing environmental impact. These results offer empirical backing for the reinforcement of external oversight and corporate governance practices.
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Data availability
The datasets used and analyzed during the current study are available from the corresponding author on reasonable request.
Notes
The reason for choosing 2011–2021 period is that environmental responsibility variable data is collected only in 2011.
We focus on eight highly authoritative business newspapers, including Securities Daily, China Securities Journal, Shanghai Securities News, Securities Times, and China Business News.
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We sincerely thank the editor and the anonymous referees for their valuable comments on this paper.
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This work is financially supported by the National Social Science Foundation of China (Grant No. 22BJY037).
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All the authors contribute to the study conception and design. The draft of the manuscript is written by Peihao Shi. Data collection and analysis are performed by Peihao Shi and Lihui Yin. All the authors read and approve the final manuscript.
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Appendix
Word cloud of corporate environmental awareness
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Shi, P., Yin, L. & Wu, C. Voting by mouth: media attention and environmental governance. Environ Sci Pollut Res 30, 103996–104014 (2023). https://doi.org/10.1007/s11356-023-29506-5
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DOI: https://doi.org/10.1007/s11356-023-29506-5