Media coverage and corporate ESG performance: Evidence from China

In the context of increasing concern about climate issues, corporate environmental, social and governance (ESG) performance has received widespread attention from the public. Our study focuses on empirically analyzing the effects of media coverage on corporate ESG performance in China. The findings suggest that media coverage plays an effective supervisory role in improving corporate ESG performance. This finding is robust after addressing the potential endogeneity issues. Furthermore, we find that media coverage improves by increasing analysts' attention and deterring agency costs. Our results provide effective suggestions to help enterprises achieve carbon peaking and carbon neutrality goals and to help the media play an effective supervisory role in achieving sustainable development.