The Impact of Environmental Legislation in Shaanxi Province on Corporate Ecological Investment Decisions: From the Perspective of Environmental Responsibility Governance

Abstract

Shaanxi Province's environmental legislation imposes emission limits, technology access standards, and liability traceability rules, thereby exerting multi-dimensional effects on corporate ecological investment decisions. From the perspective of environmental responsibility governance, this study analyzes how legislative stringency guides the internal allocation of corporate resources, regulates managerial incentives, and interacts with investment thresholds. It further examines the intervention modes of the responsibility governance system on the sedimentation of ecological assets and the allocation of operational costs, the shaping effects of compliance pressure on the staged adoption of technologies, and the matching logic between responsibility tiers and investment cycles. Meanwhile, it explores the modifying role of legislative differentiation characteristics on the marginal returns of ecological investment, the positive correlation between the intensity of liability traceability mechanisms and corporate willingness to preserve ecological capital, and the disturbance and rebalancing mechanisms of legislative update frequency on the stability of investment decisions. The findings indicate that environmental legislation, by converting external costs into internal expected liabilities, refining liability attribution clauses, and introducing enforcement uncertainty, prompts corporations to restructure their ecological investment portfolios and develop adaptive rebalancing behaviors. This research provides an analytical framework for understanding how regional environmental legislation influences long-term corporate capital allocation through the chain of responsibility governance.