Economic indicator accuracy and corporate ESG performance

Shiqian Zhu, Haowen Tian and Chenyu Wang

Economics Letters, 2024, vol. 243, issue C

Abstract: Economic indicators are important tools used to assess the economic situation of a country or region and for macroeconomic control, and the decline in the accuracy of economic indicators creates potential risks. In this study, we use GDP as a proxy for economic indicators and empirically test the intrinsic correlation between its accuracy and firms’ ESG performance. Using A-share listed companies from 2013 to 2021 as our sample, and constructing a proxy for economic indicator accuracy through nighttime satellite data, we find that the accuracy of economic indicators significantly and positively impacts firms’ ESG performance. Furthermore, financial constraints and government intervention can strengthen this positive effect.

Keywords: ESG; economic indicators accuracy; government intervention; financial constraints (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:243:y:2024:i:c:s0165176524003914

DOI: 10.1016/j.econlet.2024.111907

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