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

Wang, Kai; Zhang, Hao-Min; Tsai, Sang-Bing; Wu, Li-Dong; Xue, Kun-Kun; Fan, He-Jun; Zhou, Jie; Chen, Quan

doi:10.3390/su10030582

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

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College of Business Administration, Capital University of Economics and Business, Beijing 100070, China

School of Business, Macau University of Science and Technology, Macau 999078, China

Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528402, China

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China Academy of Corporate Governance, Nankai University, Tianjin 300071, China

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College of Tourism and Service Management, Nankai University, Tianjin 300071, China

Authors to whom correspondence should be addressed.

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

Received: 17 January 2018 / Revised: 14 February 2018 / Accepted: 22 February 2018 / Published: 26 February 2018

(This article belongs to the Section Economic and Business 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

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MDPI and ACS Style

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. https://doi.org/10.3390/su10030582

AMA Style

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(3):582. https://doi.org/10.3390/su10030582

Chicago/Turabian Style

Wang, Kai, Hao-Min Zhang, Sang-Bing Tsai, Li-Dong Wu, Kun-Kun Xue, He-Jun Fan, Jie Zhou, and Quan Chen. 2018. "Does a Board Chairman’s Political Connection Affect Green Investment?—From a Sustainable Perspective" Sustainability 10, no. 3: 582. https://doi.org/10.3390/su10030582

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

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