The power from folk monitoring: Leading Officials’ Natural Resources Accountability Audit (NRAA) and corporate ESG performance

Kai Yan, Zhiwu Chen, Jingang Wang, Peipei Wang and Weiming Liang

Finance Research Letters, 2023, vol. 58, issue PC

Abstract: This paper investigates the impact of China's Leading Officials' Natural Resources Accountability Audit (NRAA) on corporate Environmental, Social, and Governance (ESG) performance, using its implementation as a quasi-natural experiment. Findings highlight the NRAA's positive effect on ESG performance, primarily driven by increased folk environmental monitoring (FEM). The impact is more evident in firms with higher institutional shareholdings, lower information asymmetry, and within regions with strong legal frameworks. These results align with the NRAA policy's objective of promoting sustainable development and addressing ecological concerns through its positive role in corporate ESG performance.

Keywords: China's Leading Officials' Natural Resources Accountability Audit (NRAA); Folk environment monitoring (FEM); Corporate ESG; Sustainable development (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612323009479
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323009479

DOI: 10.1016/j.frl.2023.104575

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().