External regulation is crucial for environmental protection. This study investigates the impact of media attention on corporate environmental governance from 2011 to 2021, using China's public companies as our samples. The empirical results indicate that media attention consistently and significantly enhances corporate environmental governance. This effect remains robust across endogeneity considerations and alternative tests. Additionally, in regions with higher marketization and stronger rule of law frameworks, the efficacy of media attention in improving corporate environmental performance becomes remarkably pronounced. Further analysis unveils that media attention positively impacts environmental governance by elevating public awareness, refining internal management efficiency, and fostering innovative strategies for minimizing environmental impact. These results offer empirical backing for the reinforcement of external oversight and corporate governance practices.
Keywords: Corporate environmental governance; External supervision; Media coverage; Sustainable development.
© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.