Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness
Drawing from the circular economy, which prioritizes resource optimization, waste reduction, and operational efficiency, the objective of this study is to investigate the influence of environmental regulations on Green Financial Management (GFM), the role of GFM as a mediator between environmental r...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2023-12-01
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| Series: | Cogent Business & Management |
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| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2023.2209973 |
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| author | Suijun Chen Pankaewta Lakkanawanit Muttanachai Suttipun He Xue |
| author_facet | Suijun Chen Pankaewta Lakkanawanit Muttanachai Suttipun He Xue |
| author_sort | Suijun Chen |
| collection | DOAJ |
| description | Drawing from the circular economy, which prioritizes resource optimization, waste reduction, and operational efficiency, the objective of this study is to investigate the influence of environmental regulations on Green Financial Management (GFM), the role of GFM as a mediator between environmental regulations and corporate performance, and the moderating effect of Top Management’s Environmental Awareness (TMEA). Using the questionnaires from 684 Chinese green enterprises, the structural equation analysis is used to verify the results. The empirical findings indicate that environmental regulation has a positive effect on GFM and that GFM acts as a mediator between environmental regulation and corporate performance. However, it is found that TMEA does not have a significant moderating effect between environmental regulation and GFM. This study contributes to the broader discussion around resource efficiency and sustainability in the circular economy by emphasizing the importance of companies complying with environmental regulations and adopting GFM strategies to improve performance. Policymakers can consider the role of GFM in promoting sustainable business development, and prioritize the development and implementation of strong environmental regulations. |
| format | Article |
| id | doaj-art-45d6462b9e894fc89b32d947c4d1fec9 |
| institution | DOAJ |
| issn | 2331-1975 |
| language | English |
| publishDate | 2023-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj-art-45d6462b9e894fc89b32d947c4d1fec92025-08-20T03:08:24ZengTaylor & Francis GroupCogent Business & Management2331-19752023-12-0110110.1080/23311975.2023.2209973Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awarenessSuijun Chen0Pankaewta Lakkanawanit1Muttanachai Suttipun2He Xue3College of Graduate Studies, Walailak University, Nakhon Si Thammarat 80160, ThailandLogistics and Business Analytics Center of Excellence (LOGBIZ), Walailak University, Nakhon Si Thammarat 80160, ThailandFaculty of Management Sciences, Prince of Songkla University, Songkhla 90112, ThailandCollege of Management, Wuzhou University, Guangxi 543002, ChinaDrawing from the circular economy, which prioritizes resource optimization, waste reduction, and operational efficiency, the objective of this study is to investigate the influence of environmental regulations on Green Financial Management (GFM), the role of GFM as a mediator between environmental regulations and corporate performance, and the moderating effect of Top Management’s Environmental Awareness (TMEA). Using the questionnaires from 684 Chinese green enterprises, the structural equation analysis is used to verify the results. The empirical findings indicate that environmental regulation has a positive effect on GFM and that GFM acts as a mediator between environmental regulation and corporate performance. However, it is found that TMEA does not have a significant moderating effect between environmental regulation and GFM. This study contributes to the broader discussion around resource efficiency and sustainability in the circular economy by emphasizing the importance of companies complying with environmental regulations and adopting GFM strategies to improve performance. Policymakers can consider the role of GFM in promoting sustainable business development, and prioritize the development and implementation of strong environmental regulations.https://www.tandfonline.com/doi/10.1080/23311975.2023.2209973Environmental regulationgreen financial managementtop management’s environmental awarenesscorporate performance |
| spellingShingle | Suijun Chen Pankaewta Lakkanawanit Muttanachai Suttipun He Xue Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness Cogent Business & Management Environmental regulation green financial management top management’s environmental awareness corporate performance |
| title | Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness |
| title_full | Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness |
| title_fullStr | Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness |
| title_full_unstemmed | Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness |
| title_short | Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness |
| title_sort | environmental regulation and corporate performance the effects of green financial management and top management s environmental awareness |
| topic | Environmental regulation green financial management top management’s environmental awareness corporate performance |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2023.2209973 |
| work_keys_str_mv | AT suijunchen environmentalregulationandcorporateperformancetheeffectsofgreenfinancialmanagementandtopmanagementsenvironmentalawareness AT pankaewtalakkanawanit environmentalregulationandcorporateperformancetheeffectsofgreenfinancialmanagementandtopmanagementsenvironmentalawareness AT muttanachaisuttipun environmentalregulationandcorporateperformancetheeffectsofgreenfinancialmanagementandtopmanagementsenvironmentalawareness AT hexue environmentalregulationandcorporateperformancetheeffectsofgreenfinancialmanagementandtopmanagementsenvironmentalawareness |