Credit guarantee, financing structure, and firm ESG performance

Minqiang Zhang, Xiaomei Guo, Xiaojian Lu and Yihuo Jiang

Finance Research Letters, 2024, vol. 63, issue C

Abstract: This empirical research investigates the complex relationships among credit guarantee mechanisms, financing structures, and environmental, social, and governance (ESG) performance among corporations. The study employs a rich dataset spanning corporations from 2000 to 2022. Econometric analyses reveal nuanced associations, including unexpected negative correlations between ESG combined scores and environmental innovation. Static and dynamic panel modeling highlights the need for robust statistical adjustments. This study contributes to an understanding of the multifaceted dynamics that shape corporate behavior, emphasizing the importance of aligning financial decisions with sustainable practices. Future research should conduct causal exploration, qualitative methodologies, temporal analyses, global comparisons, and industry-specific studies.

Keywords: Credit guarantees; Financing structures; Agency theory; Chinese corporations; Corporate behavior; Responsible finance (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:63:y:2024:i:c:s1544612324003453

DOI: 10.1016/j.frl.2024.105315

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