Guanghua Xu
Current Organizations / Institutes
The organizations/institutes from the scholar's latest article
Guanghua Xu has a total of 5 co-authors. Here are the top co-authors by number of shared publications:
- Rui Ying
School of Economics and Management, Nanjing University of Science and Technology, Nanjing 210094, China
1 shared publication - Weiqi Zhao
Nanjing University of Science and Technology
1 shared publication - Xiaobin Zhuang
School of Government, Nanjing University, Nanjing 210023, China
1 shared publication - Ying Shu
College of Economics and Management, Nanjing Forestry University, Nanjing, 210037, China
1 shared publication Zhanhong Lu
Nanjing University of Chinese Medicine
1 shared publication
Latest Publications
- 29 October 2026
- Published by Taylor & Francis in Applied Economics Letters
- p. 1-11
Corporate environmental performance matters: an event study of the ecological and environmental code
I. This study examines stock market responses to the enactment of the Ecological and Environmental Code of the People’s Republic of China (the Code). Enacted on 12 March 2026, the Code is China’s f...
- 29 October 2026
- Published by Taylor & Francis in Applied Economics Letters
- p. 1-11
Corporate environmental performance matters: an event study of the ecological and environmental code
I. This study examines stock market responses to the enactment of the Ecological and Environmental Code of the People’s Republic of China (the Code). Enacted on 12 March 2026, the Code is China’s f...
- Open Access
- 16 March 2024
- Published by MDPI AG in Sustainability
- Vol. 16 (6) , 2471
Formal Institutional Pressure and the Integration of Corporate Environmental and Financial Performance: Empirical Evidence from Listed Companies in Heavily Polluting Industries in China
China’s “carbon peak and neutrality” policy has thrust the convergence of corporate ecological conservation and economic progress to the forefront of sustainable development. This study, aiming to tackle the “sustainability challenge”, delves into the driving forces and operative mechanisms that intertwine corporate environmental performance with financial outcomes from 2015 to 2020. Focusing on A-share listed companies in heavily polluting sectors across Shanghai and Shenzhen stock exchanges, it categorizes formal institutional pressure into two types: command-oriented and market-driven, revealing a significantly stronger positive effect of market-based pressure compared to command-based pressure. Additionally, this research examines the distinct impacts of these institutional pressures under different conditions such as ownership structure, regional location, and executive education levels. The findings indicate that state-owned enterprises, eastern region firms, and those led by highly educated executives are more responsive to command-based pressure. Conversely, privately-owned businesses, entities in central–western regions, and those with lower executive education primarily respond to market-based pressure. Moreover, this study underscores the interplay between informal and formal institutions, observing that the influence of market-based pressure on corporate environmental–financial integration is notably amplified when public awareness of environmental protection increases, thereby highlighting social factors’ pivotal role in business decision-making. In essence, this paper accentuates the significance of aligning corporate environmental and financial goals for sustainable development, offering fresh insights to academia and fostering sustainable practices and research within the corporate realm.
- 16 March 2024
- Published by MDPI AG in Sustainability
- Vol. 16 (6) , 2471
Open AccessFormal Institutional Pressure and the Integration of Corporate Environmental and Financial Performance: Empirical Evidence from Listed Companies in Heavily Polluting Industries in China
China’s “carbon peak and neutrality” policy has thrust the convergence of corporate ecological conservation and economic progress to the forefront of sustainable development. This study, aiming to tackle the “sustainability challenge”, delves into the driving forces and operative mechanisms that intertwine corporate environmental performance with financial outcomes from 2015 to 2020. Focusing on A-share listed companies in heavily polluting sectors across Shanghai and Shenzhen stock exchanges, it categorizes formal institutional pressure into two types: command-oriented and market-driven, revealing a significantly stronger positive effect of market-based pressure compared to command-based pressure. Additionally, this research examines the distinct impacts of these institutional pressures under different conditions such as ownership structure, regional location, and executive education levels. The findings indicate that state-owned enterprises, eastern region firms, and those led by highly educated executives are more responsive to command-based pressure. Conversely, privately-owned businesses, entities in central–western regions, and those with lower executive education primarily respond to market-based pressure. Moreover, this study underscores the interplay between informal and formal institutions, observing that the influence of market-based pressure on corporate environmental–financial integration is notably amplified when public awareness of environmental protection increases, thereby highlighting social factors’ pivotal role in business decision-making. In essence, this paper accentuates the significance of aligning corporate environmental and financial goals for sustainable development, offering fresh insights to academia and fostering sustainable practices and research within the corporate realm.