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Mining Technology and Mine Management

Impact of Voluntary Environmental Regulations on Executive Compensation of Resource-based Enterprises in China

  • Minggui ZHENG ,
  • Junyuan QIU ,
  • Dongming GU ,
  • Yuhua LIN
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  • 1.Research Center of Mining Development, Jiangxi University of Science and Technology, Ganzhou 341000, Jiangxi, China
    2.School of Management, University of Science and Technology of China, Hefei 230026, Anhui, China

Received date: 2023-02-05

  Revised date: 2023-07-07

  Online published: 2023-11-21

Abstract

With the increasing popularity of voluntary environmental regulation,how it will affect executive compensation in enterprises has become an important research topic.A theoretical model of voluntary environmental regulations and executive compensation was constructed,it selected Chinese resource-based listed enterprises from 2011 to 2020 as research samples,and empirically examined the relationship between voluntary environmental regulations and executive compensation.It also investigated the moderating effects of agency costs and the managerial labor market on the relationship between voluntary environmental regulations and executive compensation.The study findings are as follows:(1)The implementation of voluntary environ-mental regulations has a positive impact on executive compensation in resource-based enterprises,and the incentive effect of voluntary environmental regulations on executive compensation is more significant for non-state-owned,large-scale,and young enterprises.(2)Agency costs have a negative moderating effect on the relationship between voluntary environmental regulations and executive compensation,while the managerial labor market has a positive moderating effect.By incorporating voluntary environmental regulations into the study of executive compensation,this article enriches and expands the research in the field of executive compensation and provides empirical evidence for reducing agency costs and promoting the development of the managerial labor market.

Cite this article

Minggui ZHENG , Junyuan QIU , Dongming GU , Yuhua LIN . Impact of Voluntary Environmental Regulations on Executive Compensation of Resource-based Enterprises in China[J]. Gold Science and Technology, 2023 , 31(5) : 811 -822 . DOI: 10.11872/j.issn.1005-2518.2023.05.020

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