Does the ESG rating promote common prosperity within enterprises?

被引：0
|
作者：
Ma, Ning [1 ]
Ma, Xue [2 ]
机构：
[1] North China Univ Water Resources & Elect Power, Sch Publ Adm, Zhengzhou 450046, Peoples R China
[2] Anyang Normal Univ, Law Sch 1, Anyang 455000, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 69卷
关键词：
ESG rating; common prosperity; financing constraints;
D O I：
10.1016/j.frl.2024.106066
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article analyzes the effect of ESG ratings on fostering common prosperity within companies in China's capital market, focusing on non-financial and insurance sectors. The study finds that higher corporate ESG ratings significantly enhance common prosperity within firms, primarily by easing corporate debt financing constraints. Furthermore, the positive impact of ESG ratings on common prosperity is stronger in non-state-owned and larger enterprises. This research broadens the understanding of corporate ESG's role from a micro perspective and offers evidence on advancing common prosperity in the modern era.
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页数：8
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