The Impact of Corporate ESG Fund Ownership on Financial Performance: A Shareholding Proportion Analysis

Chunying Huang ()
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Chunying Huang: Shandong University, School of Economics

A chapter in Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024), 2024, pp 382-391 from Springer

Abstract: Abstract As the concept of sustainable development gains widespread acceptance, Environmental, Social, and Governance (ESG) investing has gradually emerged as a dominant trend within the global investment landscape. This ascension is particularly notable in the Chinese market, where ESG funds have witnessed substantial expansion. This paper aims to investigate the relationship between ESG fund ownership and the financial performance of firms, offering insights pertinent to investment strategies in ESG funds. Focusing on A-share listed companies from 2018 to 2022, a two-factor fixed-effects model was employed for empirical analysis. The findings reveal a statistically significant positive correlation between the proportion of ESG fund holdings and firm’s financial performance. Further analysis uncovers that the positive influence of ESG fund ownership on financial performance is more pronounced in state-owned enterprises. Additionally, variations are noted in the impact of ESG fund holdings on financial performance in periods pre- and post-pandemic onset.

Keywords: ESG fund ownership; Financial performance; State-owned enterprise; Pandemic (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-506-5_42

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DOI: 10.2991/978-94-6463-506-5_42

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