CEO Hometown Identification And Corporate Environmental Investment

Facing the increasingly serious problem of environmental pollution,the government has introduced a series of measures to control the environment,among which many policies are put forward for enterprises.As one of the largest polluters in China,enterprises are an important force in environmental governance.In this context,how to make enterprises actively carry out environmental governance has become an important research topic.Many scholars have discussed the influence of external factors,such as environmental regulation and media attention,on corporate environmental governance,but there are few researches on the internal driving factors of corporate environmental governance.Based on this,this paper explores the influence of CEO’s hometown identification on corporate environmental investment from the perspective of CEO,and further studies the influence mechanism of hometown identification on corporate environmental investment,and analyzes the influence of formal system,social culture and external supervision on the relationship between hometown identification and corporate environmental investment.In this paper,A-share listed companies in Shanghai and Shenzhen from 2010 to2020 were selected as samples.Based on the database of the domicile of senior executives of Gtai ’an,the domicile information of ceos of enterprises was manually collected for supplement.Through benchmark regression,mechanism test and grouping test,it is found that the hometown identification of ceos can significantly promote the environmental investment of enterprises,and the stronger the degree of hometown identification of ceos,the stronger the promoting effect on the environmental investment of enterprises.The mechanism test shows that the promoting effect of hometown identification on environmental protection investment of enterprises can be transmitted through financing constraints and agency costs.The hometown identification of CEO can promote enterprises to make environmental protection investment by reducing financing constraints and agency costs of enterprises.Packet inspection found that the formal system,social culture and the external supervision will affect native identity role in promoting,test results show that the area in environmental regulation is weak,the clan culture strong area and net area population,hometown identity for the promotion of corporate environmental responsibility to perform environmental protection investment effect will be strengthened.At the same time,strong external supervision will also improve the role of hometown identity in promoting enterprise environmental protection investment.The main contributions of this paper are as follows: First,this paper expands the research on the driving forces of corporate environmental investment and enriches the related research on corporate environmental governance.The existing research from the internal driving force is relatively few,especially from the perspective of man-land relationship.Secondly,this paper provides a new entry point for the study of hometown identity.This paper introduces financing constraints and agency costs as mediating factors in the research,analyzes the ways through which CEO’s hometown identity influences the enterprise’s environmental protection investment,and enriches the research content of hometown identity.Finally,this paper also broadens the research framework of hometown identity.This paper deeply discusses the influence of formal institutions,social culture and external supervision on the relationship between hometown identity and corporate environmental investment,and studies the role of hometown identity in different contexts,enriching the research content of hometown identity.Based on the environmental psychology,humanistic psychology and other disciplines,on the basis of combining the related theories of management,focus on corporate decision makers executive body,not only from the perspective of the relationship between man and studied the CEO’s hometown of identity and the relationship between the environmental protection investment,also hometown identity in different parts of the CEO of the impact of enterprise environmental protection investment discusses whether there is a difference,The research framework of hometown identity and enterprise environmental protection investment is expanded.