Using longitudinal data from 2013-2018 and a sample of 9,622 observations from 30 countries, we find that the relationship between family involvement and environmental preparedness is mediated by financial constraints, such that family firms are more likely to be environmentally prepared due to facing lower financial constraints. Furthermore, our findings suggest that the negative relationship between family involvement and financial constraint is strengthened by the quality of public governance while the negative relationship between financial constraint and environmental preparedness is weakened by the quality of the national environmental infrastructure. Our results hold for various robustness tests.

中文翻译：

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家族企业、财务约束和环境准备：一项国际研究

使用 2013-2018 年的纵向数据和来自 30 个国家的 9,622 个观察样本，我们发现家庭参与与环境准备之间的关系受到财务约束的调节，因此家族企业由于面临较低的财务压力而更有可能做好环境准备。限制。此外，我们的研究结果表明，公共治理质量加强了家庭参与与财务约束之间的负相关关系，而国家环境基础设施的质量削弱了财务约束与环境准备之间的负相关关系。我们的结果适用于各种稳健性测试。