The impact of corporate ESG performance on buyers' bargaining power in the industrial chain: Evidence from China

被引：4

作者：

Xiao, Zhongyi ^{[1
]}

Huang, Xinfei ^{[2
]}

Chen, Haitao ^{[2
]}

机构：

[1] Southwest Univ Polit Sci & Law, Business Sch, Chongqing, Peoples R China

[2] Sun Yat Sen Univ, Int Sch Business & Finance, Guangzhou, Peoples R China

来源：

FINANCE RESEARCH LETTERS | 2024年 / 60卷

关键词：

ESG performance; Bargaining power; Corporate behaviour; SOCIAL-RESPONSIBILITY;

D O I：

10.1016/j.frl.2023.104906

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates whether ESG performance improves the buyers' bargaining power of listed enterprises in the industrial chain using a sample of Chinese A-share listed enterprises from 2009 similar to 2021. Measuring buyer's bargaining power with a new trade-credit-based method, we find a positive relation between ESG performance and buyers' bargaining power in the industrial chain, which is robust to a series of robustness tests. Cross-sectional analysis indicates that this positive effect is more substantial for listed enterprises after China joined the Paris Agreement, for listed enterprises facing stronger competition and for listed enterprises with less analyst coverage. Overall, this study elucidates the economic benefits of enterprises' environmentally and socially responsible behaviours and the determinants of enterprises' bargaining power in the industrial chain.

引用

页数：8

共 50 条

[21] The contradictory impact of ESG performance on corporate competitiveness: Empirical evidence from China's Capital Market
Wanyan, Ruiyun
Zhao, Tongpu
[J]. Journal of Environmental Management, 2024, 371
[22] Local Government Debt and Its Impact on Corporate Underinvestment and ESG Performance: Empirical Evidence from China
Cao, Mingyao
Duan, Keyi
Ibrahim, Haslindar
[J]. SUSTAINABILITY, 2023, 15 (14)
[23] Parent-Child Cogovernance and Corporate ESG Performance: Evidence from China
Liang, Shi
Huang, Xinjian
[J]. EMERGING MARKETS FINANCE AND TRADE, 2024,
[24] ESG performance, corporate innovation and downside risk: empirical evidence from China
Lin, Binghong
Li, Bingxiang
[J]. INTERNATIONAL JOURNAL OF EMERGING MARKETS, 2024,
[25] Does ESG performance affect corporate tax avoidance? Evidence from China
Jiang, Hongli
Hu, Wenjie
Jiang, Pengcheng
[J]. FINANCE RESEARCH LETTERS, 2024, 61
[26] Corporate ESG performance and trade credit financing-Evidence from China
Luo, Chunhua
Wei, Dianlong
He, Feng
[J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2023, 85 : 337 - 351
[27] Industrial Agglomeration and Corporate ESG Performance: Empirical Evidence from Manufacturing and Producer Services
Guo, Xuemeng
Guo, Ke
Kong, Lingpeng
[J]. SUSTAINABILITY, 2023, 15 (16)
[28] The impact of CEO hedging on corporate ESG performance: Evidence from the United States
Wang, Yanuo
Xie, Zhengying
Geng, Haipeng
Croce, Jorry
[J]. FINANCE RESEARCH LETTERS, 2024, 69
[29] Digital transformation and corporate ESG: Evidence from China
Zhao, Xiaoxia
Cai, Lianghui
[J]. FINANCE RESEARCH LETTERS, 2023, 58
[30] Study on the Impact of Corporate ESG Performance on Green Innovation Performance-Evidence from Listed Companies in China A-Shares
Zhang, Jing
Liu, Ziyang
[J]. SUSTAINABILITY, 2023, 15 (20)

← 1 2 3 4 5 →