The new institutionalism in the organizational sociology came into being in the late 1970’s. This perspective tries to explain the resemblance in the formal structures of different organizations using the concept of ...The new institutionalism in the organizational sociology came into being in the late 1970’s. This perspective tries to explain the resemblance in the formal structures of different organizations using the concept of shared values. Its explanatory logic lies in the “legitimacy mechanism,” which refers to the power of socially shared values in casting the thinking mode or normalizing the behavior of human beings, thus able to induce or enforce organizations to adopt the organizational structures and regulations that are in accordance with the socially shared values.展开更多
Considering the significant roles of the policies in developing environmental finance, an overview is conducted on the environmental finance policies （EFPs） in China. This paper analyzed the definition, scope, evolu...Considering the significant roles of the policies in developing environmental finance, an overview is conducted on the environmental finance policies （EFPs） in China. This paper analyzed the definition, scope, evolution and main instruments of EFPs. The implementation progress of financial activities on each instrument are investigated respectively. Then the experiences learned from and failures discovered in the development of the EFPs are discussed well recommendations for further improvement of the EFPs and their implementation are provided. Our study found that the EFPs have been established in China after a four-phase evolution since the early 1980s. The policies have played a critical role in leading to a rapid development in environmental finance by involving more financial instruments to accomplish the objective-led environmental plans. Driven by the policies, the new green credit （GC）, green security （GS）, and green insurance （GI） instruments have been phased in as supplements to the conventional command and control approaches to improve the environmental governance of financial activities and pollution sources. However, the market mechanism of financial institution is limited due to their defensive and incapable performance on implementation some of EFP instruments. To further strengthen the effectiveness of EFPs in facilitating environmental man- agement, recommendations are made mainly on the aspects including developing more specific policy guidelines, enhancing information sharing and disclosure, providing sufficient economic incentives, establishing environmental liabilities with financial activities, and involving issues related to climate change, and biodiversity and ecosystem service.展开更多
文摘The new institutionalism in the organizational sociology came into being in the late 1970’s. This perspective tries to explain the resemblance in the formal structures of different organizations using the concept of shared values. Its explanatory logic lies in the “legitimacy mechanism,” which refers to the power of socially shared values in casting the thinking mode or normalizing the behavior of human beings, thus able to induce or enforce organizations to adopt the organizational structures and regulations that are in accordance with the socially shared values.
文摘Considering the significant roles of the policies in developing environmental finance, an overview is conducted on the environmental finance policies （EFPs） in China. This paper analyzed the definition, scope, evolution and main instruments of EFPs. The implementation progress of financial activities on each instrument are investigated respectively. Then the experiences learned from and failures discovered in the development of the EFPs are discussed well recommendations for further improvement of the EFPs and their implementation are provided. Our study found that the EFPs have been established in China after a four-phase evolution since the early 1980s. The policies have played a critical role in leading to a rapid development in environmental finance by involving more financial instruments to accomplish the objective-led environmental plans. Driven by the policies, the new green credit （GC）, green security （GS）, and green insurance （GI） instruments have been phased in as supplements to the conventional command and control approaches to improve the environmental governance of financial activities and pollution sources. However, the market mechanism of financial institution is limited due to their defensive and incapable performance on implementation some of EFP instruments. To further strengthen the effectiveness of EFPs in facilitating environmental man- agement, recommendations are made mainly on the aspects including developing more specific policy guidelines, enhancing information sharing and disclosure, providing sufficient economic incentives, establishing environmental liabilities with financial activities, and involving issues related to climate change, and biodiversity and ecosystem service.
