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Sustainability 2018, 10(3), 582; https://doi.org/10.3390/su10030582

Does a Board Chairman’s Political Connection Affect Green Investment?—From a Sustainable Perspective

1
College of Business Administration, Capital University of Economics and Business, Beijing 100070, China
2
School of Business, Macau University of Science and Technology, Macau 999078, China
3
Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528402, China
4
China Academy of Corporate Governance, Nankai University, Tianjin 300071, China
5
College of Tourism and Service Management, Nankai University, Tianjin 300071, China
*
Authors to whom correspondence should be addressed.
Received: 17 January 2018 / Revised: 14 February 2018 / Accepted: 22 February 2018 / Published: 26 February 2018
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
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Abstract

Using a sample consisting of China’s listed manufacturing companies which issue A-shares on the Shenzhen and Shanghai stock exchanges from 2008–2014, this study empirically tests the relationship between board chairman’s political connections and the amount of energy conservation and emission reduction investment. The results show that the existence of politically-connected board chairmen positively affects green investment. In addition, marketization degrees negatively moderate the relationship between political connection and green investment, which supports an institutional logic perspective. The amount of redundant resources also has the same moderating effect, which is consistent with the resource exchange perspective. View Full-Text
Keywords: green governance; green operation; political connection; resource exchange; manufacturing industry; sustainability green governance; green operation; political connection; resource exchange; manufacturing industry; sustainability
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Wang, K.; Zhang, H.-M.; Tsai, S.-B.; Wu, L.-D.; Xue, K.-K.; Fan, H.-J.; Zhou, J.; Chen, Q. Does a Board Chairman’s Political Connection Affect Green Investment?—From a Sustainable Perspective. Sustainability 2018, 10, 582.

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