Abstract
AbstractWe examine the impact of having specialized environmental courts (SPECs) on corporate risk‐taking in China. SPECs allow judges and prosecutors to develop environmental expertise and are accountable for environmental violations. Thus, SPECs effectively enforce environmental regulations. Our findings suggest that when a firm is located in an SPEC jurisdiction, it engages in less corporate risk‐taking than an otherwise equivalent firm located in a non‐SPEC jurisdiction. The results are more pronounced for firms that receive large government environmental subsidies and that are state‐owned. Additional analysis suggests that firms make more environmental investments when located in an SPEC jurisdiction.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
