Impact of ESG disclosure on corporate sustainability

Kai Duan, Chuan Qin, Shenglin Ma, Xue Lei, Qianqian Hu and Jinhuika Ying

Finance Research Letters, 2025, vol. 78, issue C

Abstract: Using long-term panel data from Chinese A-share listed manufacturing companies from 2009 to 2022, this study investigates the relationship between environmental, social, and governance (ESG) disclosure and corporate sustainability. Findings indicate that ESG disclosure positively affects economic and social-environmental sustainability performance, with corporate earnings persistence and financing restrictions acting as mediators. The heterogeneity study suggests that the positive effect of ESG disclosure on corporate sustainability performance is more pronounced in non-state-owned enterprises and those with higher analyst attention. Therefore, whether corporate sustainability performance can be enhanced by disclosing integrated environmental, social, and corporate governance information is a current academic issue worthy of study.

Keywords: ESG; Information disclosure; Corporate sustainability; Earnings persistence; China (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:78:y:2025:i:c:s1544612325003976

DOI: 10.1016/j.frl.2025.107134

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