主讲人Speaker: 余扬新     教授      香港城市大学

时间Date & Time: 2026年4月9日（周四），10:00--11:30

地点Venue:粤海校区汇星楼565会议室

内容简介/ Abstract:

This study examines whether municipal governance shapes local industrial firms’ pollution levels. We argue that well-governed municipalities have strong environmental oversight and enforcement and, in turn, effective controls on corporate pollution. Using the staggered adoption of fiscal monitoring policies across U.S. states as a plausibly exogenous improvement in municipal governance, we find that toxic emissions from industrial facilities decline significantly following the implementation of such policies. This effect is more likely driven by investment in abatement measures than shrinkage in production activity. Our cross-sectional analyses show that the effect of fiscal monitoring policies on reducing toxic emissions is more pronounced for facilities located in areas with lower levels of ex-ante local government stewardship and those subject to weaker regulatory oversight from the Environmental Protection Agency. Overall, our findings underscore municipal governance and, more generally, local government quality as a significant factor disciplining local industrial firms’ environmental practices.

主讲人介绍/Biography of the speaker：

余扬新,现为香港城市大学商学院会计系教授。余教授曾于澳大利亚国立大学会计系担任教职，之后加入香港城市大学会计系。余教授现任香港城大商学院博士项目主任, 以及Asia-Pacific Journal of Accounting & Economics主编，Accounting Forum副主编, 并曾任Journal of International Business Studies审稿编委会委员。余教授的研究领域包括资本市场、公司披露、高管薪酬、企业社会责任。其成果发表于Journal of Accounting and Economics, The Accounting Review, Journal of Financial and Quantitative Analysis, Strategic Management Journal，Research Policy等会计、金融、管理期刊。