ESG rating divergence, information disclosure, and stock price volatility: evidence from Chinese listed companies

被引：0
|
作者：
Li, Chengming [1 ]
Lai, Shuhao [1 ]
机构：
[1] Minzu Univ China, Sch Econ, 27 Zhongguancun South St, Beijing 100081, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2024年
基金：
中国博士后科学基金; 中国国家自然科学基金;
关键词：
ESG rating divergence; stock price volatility; information disclosure; listed companies;
D O I：
10.1080/13504851.2024.2365327
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study utilizes ESG rating data from nine rating agencies covering Chinese A-share listed companies from 2006 to 2022 to construct a more rational measurement of ESG rating divergence and examines its impact on stock price volatility. The results indicate that excessive ESG divergence worsens stock price volatility, but this linkage between divergence and volatility is mitigated when corporate information disclosure compliance improves.
引用
收藏
页数：6
相关论文
共 50 条
  • [1] Study on Voluntary Information Disclosure and Stock Price Synchronicity: Evidence from Chinese Listed Companies
    Zhang, Ben-Zhao
    Niu, Sheng-Jie
    [J]. PROCEEDINGS OF THE 2015 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND MANAGEMENT INNOVATION, 2015, 6 : 501 - 507
  • [2] Environmental, social, and governance information disclosure and stock price crash risk: Evidence from Chinese listed companies
    Xu, Nengrui
    Liu, Jing
    Dou, Huan
    [J]. FRONTIERS IN PSYCHOLOGY, 2022, 13
  • [3] The Effect of Corporate Social Responsibility on Stock Price Volatility - Evidence from Chinese Listed Companies
    Song, Xiaotong
    [J]. JOURNAL OF INFORMATION & KNOWLEDGE MANAGEMENT, 2023, 22 (01)
  • [4] Corporate environmental information disclosure and stock price crash risk: Evidence from Chinese listed heavily polluting companies
    Zhang, Ziqi
    Su, Zhi
    Wang, Ke
    Zhang, Yongji
    [J]. ENERGY ECONOMICS, 2022, 112
  • [5] The ESG rating, spillover of ESG ratings, and stock return: Evidence from Chinese listed firms
    Li, Hao
    Guo, Hui
    Hao, Xinyao
    Zhang, Xuan
    [J]. PACIFIC-BASIN FINANCE JOURNAL, 2023, 80
  • [6] Can good ESG performance reduce stock price crash risk? Evidence from Chinese listed companies
    Luo, Wenbing
    Tian, Ziyan
    Fang, Xusheng
    Deng, Mingjun
    [J]. CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2024, 31 (03) : 1469 - 1492
  • [7] Evaluation of ESG Ratings for Chinese Listed Companies From the Perspective of Stock Price Crash Risk
    Li, Sicheng
    Yin, Pengfei
    Liu, Shuai
    [J]. FRONTIERS IN ENVIRONMENTAL SCIENCE, 2022, 10
  • [8] Research on the relationship between ESG disclosure quality and stock liquidity of Chinese listed companies
    Cao, Xinda
    Mei, Tianshen
    Li, Shenglan
    [J]. GREEN FINANCE, 2024, 6 (01): : 24 - 51
  • [9] Effects of Stock Price Volatility on Listed Companies' Financing
    Feng Yumei
    Wang Chunfeng
    Fang Zhenming
    [J]. 2008 4TH INTERNATIONAL CONFERENCE ON WIRELESS COMMUNICATIONS, NETWORKING AND MOBILE COMPUTING, VOLS 1-31, 2008, : 10127 - +
  • [10] Environmental information disclosure and corporate performance: Evidence from Chinese listed companies
    Ye, Yuhan
    Yang, Xuan
    Shi, Lei
    [J]. HELIYON, 2023, 9 (12)
12345