Purpose: This study examines whether Confucian culture can promote enterprise total factor productivity (TFP), and it also studies how transmission mechanism works on enterprise TFP.Design/methodology/approach: Based on the data of A-share listed companies on Shanghai and Shenzhen stock markets from 2008 to 2019, this study measures the influence of Confucian culture on enterprise TFP by the number of Confucian academies and Confucian temples within three radius ranges of a company's registered address.Findings: The empirical results show that Confucian culture has a positive effect on the enterprise TFP. The transmission mechanism test shows that Confucian culture can promote the TFP of Chinese enterprises through reducing agency cost, improving agency efficiency and enhancing innovation.Practical implications: The findings in this study provide implications for policymakers, scholars and enterprises. The results show that Confucian culture can enhance the TFP of Chinese enterprises. Especially in emerging markets including China, the Confucian culture, as an informal institution, can effectively complement formal institutions, promoting enterprise TFP.Originality/value: This study expands the literature on Confucian culture in two aspects: the influence of Confucian culture on TFP and its transmission mechanism. To the authors' knowledge, this is the first study to identify a link between Confucian culture and enterprise TFP.

Based on the data of China’s A-share listed companies from 2008 to 2021, this article explores the impact and mechanism of executives with environmental experience on corporate environmental performance (CEP) and finds that executives with environmental experience significantly improve CEP. The heterogeneous analysis shows that the improvement effect of executives with environmental experience on CEP is more significant in non-state-owned enterprises, non-heavy-polluting enterprises, and enterprises in regions with higher levels of marketization. The mechanism test shows that important channels for executives with environmental experience to improve CEP include attracting green investors, promoting green innovation, and obtaining government environmental subsidies. Further analysis shows that under the governance of executives with environmental experience, the improvement of CEP is conducive to strengthening corporate social responsibility and enhancing enterprise value. The research conclusions provide direct evidence for improving CEP and achieving sustainable development for enterprises and society.