Corporate ESG Performance and Stock Pledge Risk

Keke Bai, Kun Jing and Tianyu Li

Finance Research Letters, 2024, vol. 60, issue C

Abstract: This paper empirically investigates the impact of corporate ESG performance on stock pledge risk using a sample of A-share listed companies from 2017 to 2021. The paper finds that good ESG performance of listed companies can mitigate stock pledge risk; the mitigating effect of ESG performance on stock pledge ratio and legal risk is more evident in the sample of non-state holding companies; the mitigating effect of ESG performance on stock pledge ratio and legal risk is more significant in the sample of listed companies with high market attention.

Keywords: ESG performance; stock pledge risk; property nature; market attention (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012497

DOI: 10.1016/j.frl.2023.104877

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