Global geopolitical risk and corporate ESG performance

被引：0
|
作者：
Jiang, Yong [1 ]
Klein, Tony [2 ]
Ren, Yi-Shuai [3 ,4 ,5 ,6 ,7 ]
Duong, Duy [8 ]
机构：
[1] Nanjing Audit Univ, Sch Finance, Nanjing, Peoples R China
[2] Tech Univ Chemnitz, Fac Business & Econ, Chemnitz, Germany
[3] Hunan Univ, Sch Publ Adm, Changsha, Peoples R China
[4] Hunan Univ, Key Lab High Performance Distributed Ledger Techno, Minist Educ, Changsha, Peoples R China
[5] Hunan Univ, Res Inst Digital Soc & Blockchain, Changsha, Peoples R China
[6] Hunan Univ, Ctr Resource & Environm Management, Changsha, Peoples R China
[7] Univ Auckland, Energy Ctr, 12 Grafton Rd, Auckland 1010, New Zealand
[8] Univ Econ Ho Chi Minh City, Ho Chi Minh City, Vietnam
来源：
JOURNAL OF ENVIRONMENTAL MANAGEMENT | 2024年 / 370卷
基金：
中国国家自然科学基金;
关键词：
Geopolitical risk; ESG performance; Corporate governance; China; SOCIAL-RESPONSIBILITY; EMPIRICAL-EVIDENCE; INVESTMENT; IMPACT; CASH; FLOWS; CARRY;
D O I：
10.1016/j.jenvman.2024.122481
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This study investigates whether and how the global geopolitical risk (GPR) impacts the environmental, social, and governance (ESG) performance of Chinese enterprises utilizing panel data of Chinese A-share listed enterprises from 2011 to 2020. The findings show that enterprises' ESG performance is negatively impacted by the global GPR. According to heterogeneity analysis, the global GPR has a more detrimental effect on ESG performance in non-state-owned enterprises, enterprises in the decline period, enterprises with higher institutional investor shareholdings, and enterprises without political connections. Additional mechanism analysis reveals that global GPR primarily weakens Chinese enterprises' ESG performance by increasing their financing constraints and reducing competitiveness. . In conclusion, our main findings are still valid after addressing endogeneity-related concerns and doing robustness tests.
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页数：11
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