Green Firms, Environmental Hazards, and Investment

Round 1

Reviewer 1 Report

Comments and Suggestions for Authors

In this paper, the Authors aim to find answers to the following questions:

1) do the environmental risks of a particular geographic area affect firms' investments?

2) does the relationship between investment and environmental risks change for firms engaged in green activities?

3) has the Paris Agreement of 2015 influenced the awareness of firms, investors and policy makers on the importance of environmental risks and the process of ecological transition?

Finding answers to these questions is important in light of the growing interest in environmental sustainability in business. Investigating whether environmental risks affect the investment decisions of firms in a particular geographic area is key to developing strategies that take into account the resilience of businesses to environmental factors. Understanding the changing relationship between investment and environmental risks for companies actively engaged in green activities allows them to better adapt to sustainability requirements.

The conclusions are in line with the evidence and arguments presented and fulfil the objectives of the study. 

However, it would be worth paying attention to the following recommendations: 

1. The article would have looked better if the Authors had managed to clearly formulate the hypothesis of the research and spell it out in the introduction, in the research and state its confirmation in the conclusion.

2. Conclusion should have been more detailed, spelling out a clear link between the aims of the article (hypotheses) and the actual results of the research. Such an approach to the formulation of conclusions contributes to a better understanding of the significance of the research and strengthens the persuasiveness of the presented results.

The literature cited in the article corresponds to the subject of the research, but too little attention is paid to publications in the field of the discussed issues over the last 2-3 years.

Author Response

See attached file

Author Response File: Author Response.pdf

Reviewer 2 Report

Comments and Suggestions for Authors

Please find attached the Review Report

Comments for author File: Comments.pdf

Author Response

See attached file

Author Response File: Author Response.pdf

Reviewer 3 Report

Comments and Suggestions for Authors

This paper is of high quality and conduct comprehensive and detailed research on the green firms, environmental hazards and investment. Moreover, this paper is highly consistent with the scope of the journal, and I suggest "ACCEPT after minor revisions". Here are some suggestions:

 

- The format seems to have not followed the regulations of the journal? Figures/tables either.

- How the conduct the correlation matrix? Pearson? In addition, is it necessary to introduce the “significance” at the footnote of Table 2. Eg. *** represents significant at 1% level?

- The title of Section 2.2: grenness? I guess it is a misspelling?

- It is a good point to analyze the effect before and after paris agreement, however, will it be better to emphasize the significance in the introduction section?

- Necessary policy recommendations and limitations need to be proposed.

Author Response

See attached file

Author Response File: Author Response.pdf

Round 2

Reviewer 2 Report

Comments and Suggestions for Authors

I suggest acceptance.