Does environmental law enforcement supervision improve corporate carbon reduction performance? Evidence from environmental protection interview
利用2014-2015年环保约谈作为准自然实验，基于2011-2018年企业数据，发现中央加强地方环境执法监督能显著提升企业碳减排绩效，且效果持续，对大型、低融资约束、弱政治关联企业更明显。
In response to the challenge of carbon emissions , countries worldwide have implemented a diverse range of environmental policies . However, the inefficient implementation of these policies remains a remarkable hurdle in the process of carbon governance. Exploiting the environmental protection interview (EPI) initiated in 2014 and 2015 as a quasi-natural experiment and utilizing firm-level data from 2011 to 2018, this study investigates whether the enhanced supervision of local environmental law enforcement by the central government causes changes in corporate carbon reduction performance (CCRP) based on the Staggered DID model. We observe that EPI notably improves CCRP, and this enhancement manifests both immediately and persistently over time. Furthermore, the impact of EPI on CCRP is more pronounced among large-scale enterprises , enterprises with low financing constraints, and those with weak political affiliations. Mechanism analysis indicates that government pollution control efforts, public environmental awareness, and enterprise source control are pivotal factors that strengthen the effectiveness of EPI. This study reveals the positive effects of EPI in achieving carbon reduction goals and underscores the vital role of institutionalized law enforcement supervision mechanisms as a fundamental prerequisite for policy efficacy.