Purpose: This study aims to examine the determinants of corporate green investments (GI) by using a series of both firm- and country-level factors. Design/methodology/approach: The authors collect information on environmental expenditures of 763 firms from 40 countries and use random effects...

We explain the determinants of corporate green investments (GI) by using a series of both firm- and country-level factors. Employing environmental expenditures as a proxy for green investments at the firm level, we find that larger firms tend to invest more in green projects, whereas firms that...