The Impact of Environmental Expenditure Intensity on Accounting Conservatism: The Moderating Role of Property Rights Nature and Heterogeneity Analysis of Driving Factors
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Keywords
environmental expenditure intensity, accounting conservatism, property rights nature, heterogeneity of driving factors, environmental accounting
Abstract
Against the backdrop of continuously increasing corporate environmental investments under the “dual carbon” goals, this study selects Wanhua Chemical (state-owned) and Rongsheng Petrochemical (non-state-owned) as typical cases to analyze the impact mechanism of environmental expenditure intensity on accounting conservatism. The research finds a significant positive association between substantive environmental expenditures and accounting conservatism, with this effect being more pronounced in state-owned enterprises; in contrast, symbolic environmental expenditures exhibit a weaker association with accounting conservatism. Property rights nature moderates this relationship through legitimacy pressures and stakeholder structures. This finding deepens the understanding of the institutional coupling mechanisms between environmental behaviors and financial practices, providing a decision-making basis for enterprises to optimize environmental resource allocation and enhance information disclosure quality, while also offering references for regulatory authorities in policy formulation.
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