The impact of environmental regulation on executive turnover: Evidence from listed Chinese manufacturing companies

This study explores the impact of environmental regulation on executive turnover based on a panel of A-share listed companies in the Chinese manufacturing industry. Its findings indicate that the stricter the environmental regulation, the more likely it is to lead to executive turnover in the current period. The findings further show that environmental regulation has a significant negative effect on firm performance; that firm performance has a significant mediating effect between environmental regulation and executive turnover; and that in terms of firm heterogeneity, the above pattern is not significant in manufacturing state-owned enterprises but is significant in manufacturing non-state-owned enterprises.