Evaluation of the carbon reduction Effect of the Paris Olympics

Investigating the potential influence of the host city on the carbon emissions of local firms during large-scale sports events holds significant scientific significance. This paper examines the concepts of environmental sustainability and protection in relation to the Olympic Games by analyzing the 2017 Paris Olympic Games, which occurred one year after the bid victory. It establishes a quasi-natural experiment and employs a difference-in-difference methodology to empirically investigate the relationship between the success of the Olympic bid and corporate carbon emissions. According to stakeholder theory, POAPP may impede corporate CE by fostering corporate environmental innovation and enhancing governmental environmental focus, with a more pronounced inhibitory effect on corporate CE in firms with a significant presence of female directors. Subsequent investigation indicates that POAPP can markedly enhance the sustainable development performance, corporate social responsibility, and corporate governance of firms, hence augmenting their capacity for sustainable development. This article offers a definitive reference for assessing the pollution reduction impact of large-scale sporting events, exemplified by the Olympic Games, on host firms.