ESG投资与新环境保护法的实施能否提升公众主观幸福感？
Can ESG Investment and the Implementation of the New Environmental Protection Law Enhance Public Subjective Well-being?
AI总结：
本研究利用中国省级面板数据和双重差分模型，发现新《环境保护法》与ESG投资通过降低空气污染显著提升公众主观幸福感，凸显了环境立法与企业社会责任的关键作用。
摘要：
空气污染已成为中国面临的严峻挑战，对公众健康构成威胁，并阻碍了可持续经济发展的进程。为应对空气污染及其他环境问题，中国政府于2015年出台了新的《环境保护法》。本文研究了新《环境保护法》的实施及企业环境、社会和治理（ESG）投资对空气污染和公众主观幸福感的影响。利用宏观层面的面板数据，我们采用双重差分（DID）模型，以中国各省份和直辖市为分析单元，考察新《环境保护法》与企业ESG投资强度变化的联合效应。研究评估了这些因素对空气质量和公众主观幸福感的影响。研究结果表明，这些政策和投资行为通过减少空气污染显著提升了公众主观幸福感。值得注意的是，ESG投资的增加显著降低了空气污染水平，并与幸福感的提升呈正相关。这些结果凸显了环境立法和企业社会责任在改善公众生活质量中的关键作用，并为在中国及更广泛地区推动可持续发展提供了实证支持。
英文摘要：
Air pollution has emerged as a serious challenge for China, posing a threat to public health and hindering the progress of sustainable economic development. In response to air pollution and other environmental issues, the Chinese government introduced a new Environmental Protection Law in 2015. This paper investigates the impact of the new Environmental Protection Law's implementation and corporate Environmental, Social, and Governance (ESG) investments on air pollution and public subjective well-being. Using panel data at the macro level, we employ a difference-in-differences (DID) model, with Chinese provinces and municipalities as units of analysis, to examine the combined effects of the new Environmental Protection Law and changes in corporate ESG investment intensity. The study evaluates their impacts on air quality and public subjective well-being. Findings indicate that these policies and investment behaviors significantly improve public subjective well-being by reducing air pollution. Notably, an increase in ESG investment significantly reduces air pollution levels and is positively associated with enhanced well-being. These results underscore the critical role of environmental legislation and corporate social responsibility in improving public quality of life and provide empirical support for promoting sustainable development in China and beyond.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
