Abstract: Strategic deviance is one of the common phenomena in development process of corporate strategy, and how it affects environmental investment has attracted much attention. Based on this, the article uses data of A-share listed companies in China from 2008 to 2017, and analyzes the impact of strategic deviance on environmental investment. The study finds that: Strategic deviance enhances environmental investment significantly. The nature of heavy pollution industry strengthens the positive relation between strategic deviance and environmental investment;state ownership strengthens the positive relation between strategic deviance and environmental investment. The article enriches literature on the influential factors of environmental investment from strategy perspective, and can help understand economic consequence of strategic deviance in China.

Key words: corporate strategic deviance')">corporate strategic deviance, environmental investment, heavy pollution industry, ownership