Corporate ESG Performance and Its Impact on Financial Constraints in China’s A-Share Listed Companies

Yaxin Luo ()
Additional contact information
Yaxin Luo: School of Arts, Design & Architecture, The University of New South Wales

A chapter in Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026), 2026, pp 486-497 from Springer

Abstract: Abstract In light of significant changes in the global economic and social landscape, corporate environmental, social, and governance (ESG) performance has increasingly become a central focus for investors and stakeholders. This study examines a sample of non-financial listed companies in China’s A-share market from 2015 to 2024, employing ESG rating data from SynTao Green Finance to investigate the influence and mechanisms of corporate ESG performance on financing constraints. Utilizing a panel regression methodology, the research incorporates leverage ratio and enterprise size as moderating variables to conduct a comprehensive analysis of the differential effects of financing constraints on enterprises. The findings reveal that ESG performance substantially mitigates corporate financing constraints, with the effect being more pronounced in enterprises with low leverage and smaller scale. Robustness checks further affirm the validity of these conclusions. The results provide empirical evidence for companies aiming to optimize their financing conditions and achieve sustainable development by enhancing their ESG performance.

Keywords: ESG Performance; Financial Constraints; Leverage; Firm Size; Heterogeneity Analysis (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-642-5_47

Ordering information: This item can be ordered from
http://www.springer.com/9789462396425

DOI: 10.2991/978-94-6239-642-5_47

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().