| Abstract: |
In this paper, we study how the privatization of state-owned enterprises (SOEs) affects firm pollution. Using firm-level pollution data of Chinese SOEs, we find that firms' pollutant emissions increase significantly after privatization. This effect could be mitigated by stringent environmental regulations such as setting monitoring points. Moreover, the authority of government control power plays a vital role in controlling SOE pollution, as we find 1) the increase in pollution associated with privatization is larger when the privatized SOE is located near the boundary of a city/province where government control is usually weaker; and 2) when the privatized SOE is relieved from a higher hierarchy of government control ex-ante, the expost pollution increase after its privatization would be larger. Further evidence suggests that the increase in pollution after privatization is associated with decreased development in green technologies and increased energy consumption. More importantly, increased pollution after firm privatization also leads to increased carbon emissions and a negative impact on public health. Overall, our findings highlight the environmental externalities of SOE privatization.
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Biography:
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Qingyuan Li is a professor and doctoral supervisor at the School of Economics and Management, Wuhan University. He was selected as a Distinguished Professor of the Changjiang Scholars Program of the Ministry of Education (2021), a Changjiang Young Scholar of the Ministry of Education (2017), a Young Top Talent Program of the Organization Department of the CPC Central Committee (2017), the "New Century Excellent Talent Support Program" of the Ministry of Education (2012), the Special Support Program for Accounting Leaders of the Ministry of Finance (2017), and an Outstanding Young Scholar of Humanities and Social Sciences of Wuhan University (2020). He is also a member of the Teaching Guidance Subcommittee of the Accounting Major of the Ministry of Education, and has won the First Prize of Teaching Achievements of Higher Education Institutions in Hubei Province, the Second Prize of Outstanding Achievements in Social Sciences in Hubei Province, and the Yang Jiwan Scholarship. So far, he has presided over major projects of the National Social Science Fund of China, key projects of the National Natural Science Foundation of China, general projects, and the first batch of new liberal arts education reform projects of the Ministry of Education. His papers have been published in authoritative domestic and foreign journals such as Review of Financial Studies, The Accounting Review, Contemporary Accounting Research, Review of Accounting Studies, 《经济研究》, 《管理世界》《经济学（季刊）》。
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