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Do public environmental concerns promote new energy enterprises' development? Evidence from a quasi-natural experiment

Gu, Yan and Ho, Kungcheng and Xia, Senmao and Yan, Cheng (2022) 'Do public environmental concerns promote new energy enterprises' development? Evidence from a quasi-natural experiment.' Energy Economics, 109. p. 105967. ISSN 0140-9883

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Abstract

We examine whether the public environmental concerns promote the development of new energy enterprises through a quasi-experiment China's extreme event of 2011 when the PM2.5 Surge incident escalated public environmental concerns. After this incident, the market power of new energy enterprises in severely polluted regions became 108% higher than that in the mildly polluted regions. It implies that public environmental concerns promote the development of new energy enterprises. This observation is limited to non-state-owned companies, companies without political connections, and regions without new energy subsidies. This increased market power of new energy enterprises with increasing public environmental concerns was because of sales increase instead of reduced non-operational costs. Overall, this study answers several interesting questions associated with the increasing public environmental concerns and the rapid development of energy enterprises.

Item Type: Article
Uncontrolled Keywords: Public environmental concern; New energy enterprises; Market power; PM2.5 surge; Extreme event
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Finance Centre
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 14 Apr 2022 13:43
Last Modified: 09 Jun 2022 23:59
URI: http://repository.essex.ac.uk/id/eprint/32647

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