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<p>Public complaints, as an emerging form of informal regulation, have become a critical component of environmental security and sustainable development. However, their effectiveness on sustainable corporate development remains insufficiently understood. This study examines the role of public complaints in promoting sustainable corporate development within China’s industrial sector, with a primary focus on its environmental performance proxied by reductions in air pollutant emissions. Utilizing a unique firm-day panel dataset that integrates real-time monitoring from the Continuous Emissions Monitoring Systems (CEMS) with public complaint records, our analysis demonstrates that substantiated public complaints significantly reduce firms’ pollution, with more substantial effects observed in high-innovation firms, confirming the moderating role of technological innovation. Further heterogeneity analysis indicates that the reduction effects of substantiated complaints vary significantly by firm and industry characteristics, with greater efficacy among larger, younger, state-controlled firms and non-emission-intensive industries. These findings provide novel micro-level evidence that integrating informal regulation into environmental governance can optimize policy strategies, strengthen environmental security, and enhance sustainable development.</p>

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Informal Regulation and Sustainable Corporate Development: Evidence from Public Complaints and Firm-Level Pollution Reduction in China

  • 期刊论文

  • 发表日期：

    2026年4月25日

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  • Yuan-Xuan Guo,
  • Ling Tang,
  • Min Jia,
  • Jia-Bao Qu,
  • Jie-Yi Li,
  • Shou-Yang Wang

摘要

Public complaints, as an emerging form of informal regulation, have become a critical component of environmental security and sustainable development. However, their effectiveness on sustainable corporate development remains insufficiently understood. This study examines the role of public complaints in promoting sustainable corporate development within China’s industrial sector, with a primary focus on its environmental performance proxied by reductions in air pollutant emissions. Utilizing a unique firm-day panel dataset that integrates real-time monitoring from the Continuous Emissions Monitoring Systems (CEMS) with public complaint records, our analysis demonstrates that substantiated public complaints significantly reduce firms’ pollution, with more substantial effects observed in high-innovation firms, confirming the moderating role of technological innovation. Further heterogeneity analysis indicates that the reduction effects of substantiated complaints vary significantly by firm and industry characteristics, with greater efficacy among larger, younger, state-controlled firms and non-emission-intensive industries. These findings provide novel micro-level evidence that integrating informal regulation into environmental governance can optimize policy strategies, strengthen environmental security, and enhance sustainable development.