Abstract:
The report of the 20th National Congress of the Communist Party of China emphasized “accelerating the green transformation of development patterns” and “actively and steadily working toward the peak carbon emissions and carbon neutrality”. Enhancing corporate carbon performance is crucial to achieving the strategic goals of carbon peaking and carbon neutrality. However, improving corporate carbon performance is a long-term systematic project that requires substantial resource investment. Then, does managerial myopia, which prioritizes short-term gains at the expense of long-term corporate interests, hinder the improvement of corporate carbon performance? To address this , this study employing text analysis based on 43 short-sightedness-related keyword, measure managerial myopia as a behavioral tendency in listed companies and examined its impact on corporate carbon performance. The findings reveal that higher levels of managerial myopia are associated with lower corporate carbon performance. Mechanism tests indicate that hindering the fulfillment of environmental social responsibilities, reducing capital expenditures, and suppressing green technology innovation are three primary pathways through which managerial myopia undermines carbon performance. Further heterogeneity analysis shows that: (1) Compared to non-heavy polluters, the negative impact of managerial myopia on carbon performance is more pronounced in heavy polluting enterprises; (2) The adverse effect of managerial myopia on carbon performance is mitigated in enterprises with green investors or a greater number of green investors, executives with overseas backgrounds, and a higher proportion of female managers. This study provides a theoretical framework and empirical evidence at the “human factor” level for promoting corporate pollution reduction and carbon mitigation, ultimately contributing to the achievement of the dual carbon goals.