Common institutional ownership and corporate ESG performance in China

Yikun Yin, Yijia Qian, Liang Wang and Yichun Lu

Finance Research Letters, 2024, vol. 65, issue C

Abstract: Corporate ESG performance, which serves as an important aspect of sustainable finance, is a significant concern of communities and academics. Using a sample of Chinese listed companies spanning from 2011 to 2020, we investigate whether common institutional ownership affects corporate ESG performance. The results show that common institutional ownership worsens corporate ESG performance, which still holds after conducting robustness checks. The above conclusion is more prominent for enterprises facing stronger industrial competition, demonstrating the existence of an anticompetitive mechanism. Overall, we investigate how common institutional ownership negatively affects corporate ESG performance and has implications for emerging markets.

Keywords: Common institutional ownership; Corporate ESG performance; Anticompetitive effect; Industrial competition (search for similar items in EconPapers)
JEL-codes: G12 G32 G34 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324005476

DOI: 10.1016/j.frl.2024.105517

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