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An analysis of relationship between environmental regulations and firm performance with moderating effects of product market competition: Empirical evidence from Pakistan

机译:产品市场竞争中调节效应的环境法规与企业绩效关系分析:巴基斯坦的经验证据

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摘要

Many countries are facing environmental issues that affect the natural climate and life of human beings, therefore, governments have developed the strategies and regulations to control the industrial negative effects on the environment which is called environmental regulations (ER). To extend the porter hypothesis, we examined the moderating effect of product market competition (PMC) to find the circumstances that affect the association between ER and FP. We have divided PMC into high and low product market competition (HPMC and LPMC) by following the Herfindahl-Hirschman Index (HHI). The empirical investigation of this study demonstrates the following outcomes: ER indicates a statistically significant and positive relationship with FP. Furthermore, HPMC has great importance for FP, while LPMC has shown a negative relationship with FP. Besides, we tested the moderating effects of HPMC and LPMC on the association between ER and FP. The moderating effects of HPMC have significant and positive effects on the association between ER and FP. On the other side, the moderating effects of LPMC have significant and negative effects on the association between ER and FP. Moreover, this study promotes the importance of ER and PMC for firms. This study is beneficial for owners, investors, policy-makers, and governments to form comprehensive and viable ER for reducing environmental negative effects. (C) 2020 Elsevier Ltd. All rights reserved.
机译:许多国家面临着影响人类自然气候和生活的环境问题,因此,政府制定了对涉嫌环境法规(ER)的环境负面影响的战略和规定。为了扩展搬运工假设,我们研究了产品市场竞争(PMC)的调节效果,以发现影响ER和FP之间关联的情况。我们通过遵循Herfindahl-Hirschman指数(HHI)将PMC分为高低产品市场竞争(HPMC和LPMC)。本研究的实证调查表明以下结果:ER表明与FP有统计学显着和正阳性的关系。此外,HPMC对FP非常重要,而LPMC则显示与FP的负面关系。此外,我们测试了HPMC和LPMC对ER和FP之间关联的调节效果。 HPMC的调节效应对ER和FP之间的关联具有显着且积极的影响。在另一边,LPMC的调节效应对ER和FP之间的关联具有显着且负面影响。此外,本研究促进了ER和PMC对公司的重要性。本研究有利于所有者,投资者,政策制定者和政府,形成全面和可行的ER,以减少环境负面影响。 (c)2020 elestvier有限公司保留所有权利。

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