IV estimates (CEG).

Tourism development is increasingly linked to both regional economic activity and environmental outcomes. However, empirical evidence remains limited on whether and through which channels proximity to major tourist attractions is associated with the environmental governance of industrial enterprises. Using enterprise-level data and geocoded locations of China’s national 5A tourist attractions in 2014, we examine the relationship between firms’ spatial proximity to 5A attractions and corporate environmental governance. We find that (1) proximity to 5A attractions is positively related to the environmental governance of nearby firms, and the results are robust across alternative specifications and a range of robustness checks, including IV-based estimates; (2) proximity is associated with lower operating costs, consistent with shared transportation infrastructure and environmental facilities, and with higher fixed-asset intensity that is linked to stronger environmental governance; and (3) the positive relationship is more pronounced for natural-landscape attractions and less pronounced in cities with higher innovation or marketization. These findings provide evidence consistent with positive environmental spillovers associated with tourism and underscore the potential value of coordinating tourism development strategies with industrial environmental governance policies.旅游业发展与区域经济活动及环境成效的关联日益紧密。然而，现有实证研究仍未厘清工业企业环境治理与邻近大型旅游景区之间是否存在关联，以及具体的传导路径。本研究依托企业层面数据与2014年中国国家5A级旅游景区（national 5A tourist attractions）的地理编码区位信息，考察企业与5A景区的空间邻近度同企业环境治理之间的关联。研究发现：（1）企业与5A景区的空间邻近度与周边企业的环境治理水平呈显著正相关，该结果在更换模型设定、开展包含工具变量（IV）估计在内的一系列稳健性检验后依然稳健；（2）空间邻近度与更低的运营成本相关，这与共享交通基础设施及环保设施的逻辑相符；同时邻近度还与更高的固定资产密集度相关，而固定资产密集度与更严格的环境治理存在正向关联；（3）当旅游景区为自然景观类时，上述正相关关系更为显著，而在创新水平或市场化程度更高的城市中，该正相关关系则相对减弱。本研究结果为旅游业所关联的正向环境溢出效应提供了实证支撑，同时凸显了协同推进旅游业发展战略与工业环境治理政策的潜在价值。