Investor attention and ESG performance: Lessons from China's manufacturing industry

Gu, Jiafeng

doi:10.1016/j.jenvman.2024.120483

Cited by 18 publications

(3 citation statements)

References 89 publications

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“…Due to the importance of ESG activities in the financial, environmental, and social areas of business firms, stakeholders become more interested in the social consequences of firms' actions [3,43,44]. Previous studies on the ESG activities of business firms mainly follow two broad perspectives: their legitimacy and their resource-based view.…”

Section: Corporate Financial Performance Esg and Legitimacymentioning

confidence: 99%

“…Established studies highlight the important roles of corporate environmental, social, and governance in today's businesses [1][2][3]. As an integrated concept, corporate environmental, social, and governance (ESG) represents "how corporations and investors integrate environmental, social, and governance concerns into their business models" [2,4].…”

Section: Introductionmentioning

confidence: 99%

“…Some studies argue that ESG is becoming a "business imperative" for business firms [1], which may contribute to the financial performance of focal firms [5]. Other scholars take a broader perspective and argue that focal firms have to adhere to sound corporate governance principles and environmental practices in order to address corporate financial performance as well as corporate social performance [3,6].…”

Section: Introductionmentioning

confidence: 99%

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The Moderating Role of Country Governance in the Link between ESG and Financial Performance: A Study of Listed Companies in 58 Countries

Luo,

Li,

Nguyen

et al. 2024

Sustainability

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Corporate environmental, social, and governance (ESG) performance is expected to positively affect financial performance because it helps firms gain sociopolitical legitimacy from receiving positive stakeholder awareness and gaining key resources. However, the research on the relationship between corporate ESG performance and financial performance has yielded mixed results. This paper explores the impact of the country governance environment on the ESG–financial performance link. We propose that the positive ESG–financial performance relationship is stronger for firms in countries with better governance. Empirical analyses using a large panel dataset covering 11 years and 58 countries support our arguments. We found that countries with more effective governance in political stability, regulatory quality, and control of corruption strengthen the positive ESG–financial performance relationship. The implications of our findings are significant for firms that face different governance environments and develop sustainable business strategies.

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Section: Corporate Financial Performance Esg and Legitimacymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

The Moderating Role of Country Governance in the Link between ESG and Financial Performance: A Study of Listed Companies in 58 Countries

Luo,

Li,

Nguyen

et al. 2024

Sustainability

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Institutional investors' geographic concentration and environmental, social, and governance performance: An inverted U‐shaped relationship

Zhong,

Cheng

2024

Corp Soc Responsibility Env

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Although the rapid development of the Internet has infinitely shortened the distance between economic agents, geographic distance is still an important factor affecting information acquisition and interpersonal interactions between them. Using data on Chinese A‐share listed companies from 2009 to 2020, we explore the relationship between geographic concentration of institutional investors and environmental, social, and governance (ESG) performance. Our findings indicate that investors' geographic concentration has an inverted U‐shaped influence on ESG performance, and high‐speed railway and institutional environment weaken the negative influence of geographic concentration of institutional shareholders, leading to a flatter inverted U‐shaped relationship. As high‐speed railway and institutional environment further flatten the curve, the inverted U‐shaped relationship will eventually become U‐shaped, and a “shape‐flip” occurs. Our research offers a new perspective on the factors impacting corporate ESG performance, enriching institutional investor characteristics, and having practical significance for improving ESG performance.

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Dynamic bidirectional relationship between financial inclusion and energy poverty: Evidence from China

2024

Energy Reports

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Investor attention and ESG performance: Lessons from China's manufacturing industry

Cited by 18 publications

References 89 publications

The Moderating Role of Country Governance in the Link between ESG and Financial Performance: A Study of Listed Companies in 58 Countries

The Moderating Role of Country Governance in the Link between ESG and Financial Performance: A Study of Listed Companies in 58 Countries

Institutional investors' geographic concentration and environmental, social, and governance performance: An inverted U‐shaped relationship

Dynamic bidirectional relationship between financial inclusion and energy poverty: Evidence from China

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