A Study on the Impact of ESG Performance on Financing Ability of Tourism Listed Companies

Yuchun Zhou ()
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Yuchun Zhou: Sichuan Agricultural University

A chapter in Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), 2023, pp 110-117 from Springer

Abstract: Abstract Based on the financial data of 25 Shanghai and Shenzhen A-share listed tourism companies from 2014–2021, this paper empirically examines the impact of ESG performance on corporate financing ability. The study shows that: (1) the ESG performance of China’s listed tourism companies significantly and positively affects the financing ability of enterprises, and the effect is heterogeneous; (2) the regression of financing constraint as a threshold variable finds that the effect holds when the financing constraint is less than 2.6189, and the opposite effect is not significant.

Keywords: ESG; tourism listed companies; financing capacity (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-298-9_11

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DOI: 10.2991/978-94-6463-298-9_11

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