An Examination of Impact of the Board of Directors’ Capital on Enterprises’ Low-Carbon Sustainable Development
This article is part of Special Issue:
Lipeng Liu,
Xiaoxue Liu,
Zihao Guo,
Shuangshuang Fan,
Lipeng Liu
School of Management, China University of Mining and Technology, Beijing 100086, China cumt.edu.cn
Search for more papers by this authorCorresponding Author
Xiaoxue Liu
School of Economics, Beijing Technology and Business University, Beijing 100048, China btbu.edu.cn
Search for more papers by this authorZihao Guo
Zhongtai Securities Institute for Financial Studies, Shandong University, Jinan 250000, China sdu.edu.cn
Search for more papers by this authorShuangshuang Fan
School of Management, China University of Mining and Technology, Beijing 100086, China cumt.edu.cn
Search for more papers by this authorLipeng Liu,
Xiaoxue Liu,
Zihao Guo,
Shuangshuang Fan,
Lipeng Liu
School of Management, China University of Mining and Technology, Beijing 100086, China cumt.edu.cn
Search for more papers by this authorCorresponding Author
Xiaoxue Liu
School of Economics, Beijing Technology and Business University, Beijing 100048, China btbu.edu.cn
Search for more papers by this authorZihao Guo
Zhongtai Securities Institute for Financial Studies, Shandong University, Jinan 250000, China sdu.edu.cn
Search for more papers by this authorShuangshuang Fan
School of Management, China University of Mining and Technology, Beijing 100086, China cumt.edu.cn
Search for more papers by this authorAcademic Editor: Yuan Li
Abstract
Given the increasingly serious ecological and environmental problems in China, research on enterprises’ low-carbon sustainable development behavior (LCSDB) has become a heated discussion. This is also because enterprises are a primary source of carbon emissions and environmental pollution. From the perspective of the board of directors’ capital (BODC), this study considers empirical evidence from 286 enterprises listed on the Shanghai and Shenzhen stock exchanges in China from 2008 to 2016 to examine the BODC’s impact on enterprises’ LCSDB and its mechanisms. A group test is conducted using the enterprise’s property, nature of rights, and region, among other factors, to investigate the heterogeneity of the impact of board capital on enterprises’ LCSDB and its regulatory role. The research indicates (1) an increase in BODC promotes enterprises’ LCSDB. (2) An awareness of social responsibility (AOSR) plays an intermediary role in the relationship between BODC and corporate LCSDB. (3) Media attention enhances the BODC’s role in promoting enterprises’ LCSDB. (4) Government regulatory factors promote the BODC’s positive impact on LCSDB. These findings significantly impact the effectiveness of decision-makers within the company, the governance mechanism to address climate change risks, and the possible connection between corporate governance reform and carbon-related policies.
Conflicts of Interest
The authors declare no conflict of interest.
Open Research
Data Availability
The data used to support the findings of this study are available from the corresponding author upon request.
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