ESG ratings and the cost of equity capital in China

Li, Yunzhong; Zhao, Yu; Ye, Chengfang; Li, Xiaofan; Tao, Yunqing

doi:10.1016/j.eneco.2024.107685

Energy Economics

2024

DOI: 10.1016/j.eneco.2024.107685

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ESG ratings and the cost of equity capital in China

Yunzhong Li,

Yu Zhao,

Chengfang Ye

et al.

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Cited by 4 publications

References 57 publications

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Does flood risk affect the implied cost of equity capital?

Lai,

Cheng,

et al. 2025

Finance Research Letters

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Does flood risk affect the implied cost of equity capital?

Lai,

Cheng,

et al. 2025

Finance Research Letters

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From policy to practice: How China's emissions trading scheme shapes ESG greenwashing at the firm level?

Tao,

Lin,

Poletti

2024

Journal of Environmental Management

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How components of ESG performance impact corporate risk-taking?

Sun,

Lu,

Zhang

2024

Front. Sustain. Energy Policy

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Corporate risk-taking (CRT) is crucial for sustainable business development. The focus of this study is to examine the relationship between components of ESG performance (ESGP) and corporate risk-taking. We conduct an empirical analysis using CSI ESG score data of A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2009 to 2022. The conclusions are as follows: (1) ESGP exerts a facilitating effect on CRT. Specifically, environmental performance inhibit CRT, whereas social responsibility and corporate governance performance enhance CRT. (2) The facilitating effect of ESGP on CRT is more pronounced at lower levels of equity concentration. (3) ESGP enhances CRT by increasing the level of innovation and institutional investor shareholding. The contribution of this study is to help firms change CRT by adjusting the components of ESGP.

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ESG ratings and the cost of equity capital in China

Cited by 4 publications

References 57 publications

Does flood risk affect the implied cost of equity capital?

Does flood risk affect the implied cost of equity capital?

From policy to practice: How China's emissions trading scheme shapes ESG greenwashing at the firm level?

How components of ESG performance impact corporate risk-taking?

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