ESG performance and corporate innovation

Xian Sun and Xiaoyan Xiong

Research in International Business and Finance, 2025, vol. 76, issue C

Abstract: Innovation is the hallmark of a thriving enterprise and the key to promoting high-quality development. ESG, as an important micro-grip to realize sustainable development, should not be neglected as well. Using a sample of Chinese listed companies from 2009 to 2023, this study examines the impact of ESG performance on corporate innovation. The results show that ESG performance significantly promotes corporate innovation. The mechanism analysis demonstrates that innovation willingness, financing constraints and human capital are important pathways. And the environmental dimension has the most significant impact on corporate innovation. In addition, ESG performance can promote high-quality development of firm through corporate innovation.

Keywords: ESG performance; Corporate innovation; Human capital; High-quality development (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:76:y:2025:i:c:s027553192500073x

DOI: 10.1016/j.ribaf.2025.102817

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