Environmental performance of Chinese listing manufacturing enterprise: from investment perspective.

With decades of high-speed economic miracle, China inevitably encountered with environmental pressure and sustainable development problem. As the main carrier of the environmental responsibility, Chinese government set series of regulations and standards to supervise and guide enterprise to fulfill this challenge emission reduction task. Based on data envelopment analysis (DEA) approach, this paper focuses on air pollutant highly emission manufacturing tycoons to figure out "whether the yearly billions environmental input really worth it?" during 2014 to 2016. Unlike previous studies mainly from consumption perspective and got macro-regional evidence, we choose micro-enterprise to analyze individual environmental performance and draw general conclusions. Possible suggestions are also proposed for various industries and some salient enterprises.