Does natural resource dependence influence the impact of financial technologies on corporate ESG and digital governance in China's listed enterprises?

Yuli Sang, Mingjian Xie, Xiaolong Bai and Fusen Guo

Resources Policy, 2024, vol. 91, issue C

Abstract: In recent years, the concept of ESG has emerged globally and received widespread attention. In theory, financial technology in resource-dependent regions is expected to contribute to the development of corporate ESG. However, this has yet to be verified. This article selects 16,146 A-share listed companies in China as research samples from 2009 to 2019 and empirically analyzes the relationship between financial technology, natural resource dependence (Nrd), and ESG. The study shows that FinTech enhances corporate ESG, while Nrd constrains FinTech's enhancement impact on corporate ESG. This conclusion still holds after the endogeneity test and robustness test. Besides, Nrd constrains FinTech's effect on ESG in small and medium-sized enterprises (SMEs), state-owned enterprises, firms in the Middle East, and heavily polluting industries. FinTech can impact corporate ESG by easing financing constraints and driving digital transformation. This study provides a rationale for the rapid development and broad application of FinTech and digital governance in companies' drive for sustainable development.

Keywords: Digital governance; Natural resource dependence; Financial technologies; Corporate ESG (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:91:y:2024:i:c:s0301420724003155

DOI: 10.1016/j.resourpol.2024.104948

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