Do Climate Change Regulatory Pressures Increase Corporate Environmental Sustainability Performance? The Moderating Roles of Foreign Market Exposure and Industry Carbon Intensity
研究了国家/地区层面的气候变化监管压力对跨国公司环境可持续绩效的影响，发现国外市场暴露会削弱而行业碳强度会增强这种正向关系。
Abstract This study focuses on climate change regulatory pressures at the national/regional level, which can be considered emergent institutions – newly established and subject to change – in contrast to established institutions. We explore their impact on the environmental sustainability performance of multinational enterprises, advancing beyond the extant literature's focus on their binary compliance reactions. Utilizing a sample of Standard & Poor's 1200 firms, our findings indicate that variations in climate change regulatory pressures at the national/regional level can account for differences in environmental sustainability performance at the corporate level. Moreover, this relationship is moderated by two critical firm characteristics: foreign market exposure and industry carbon intensity. Foreign market exposure, particularly in the context of developing countries, can diminish the positive effects of a home country's climate change regulatory pressures, while industry carbon intensity can amplify these effects.