Relying on a comprehensive sample of Chinese listed companies from 2007 to 2020 and the PSM-DID method, we examine whether punishments from the China Securities Regulatory Commission (CSRC) affect the behavior of firms that are not punished but shares a cross-owner with the punished. We find...

We examine whether the public environmental concerns promote the development of new energy enterprises through a quasi-experiment China’s extreme event of 2011 when the PM2.5 Surge incident escalated public environmental concerns. After this incident, the market power of new energy enterprises...