Can biodiversity risk improve firm ESG performance? Empirical evidence from China

被引：0
|
作者：
Pi, Tianlei [1 ]
Jiao, Linke [1 ]
Zhou, Yuhan [1 ]
Shi, Jin [1 ]
机构：
[1] Chongqing Univ, Sch Econ & Business Adm, 174 Shazhengjie, Chongqing 400044, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2025年 / 76卷
基金：
中国国家自然科学基金;
关键词：
Biodiversity risk; ESG performance; Green innovation; External regulation; MANAGEMENT;
D O I：
10.1016/j.frl.2025.106931
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the relationship between biodiversity risk and firm ESG performance in Chinese Ashare listed companies from 2013 to 2023. We find a significantly positive relationship between biodiversity risk and firm ESG performance, and this conclusion still holds after robustness and endogeneity tests. The mechanism analysis shows that green innovation and external regulation are the main channels through which biodiversity risk promotes firm ESG performance. In addition, the effect of biodiversity risk on ESG performance is also significantly heterogeneous due to the ownership structure, the different level of industrial pollution.
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页数：9
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