Whether the Disclosure of ESG Information can Enhance Corporate Environmental Performance

Xinghao Wei () and Jie Yang ()
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Xinghao Wei: University of Electronic Science and Technology of China, Foreign Language School
Jie Yang: Asia-Europe Institute

A chapter in Proceedings of the 5th International Conference on Economic Management and Big Data Application (ICEMBDA 2024), 2024, pp 334-344 from Springer

Abstract: Abstract With the concept of green and sustainable development deeply embedded in society, ESG (Environmental, Social, and Governance) disclosure and corporate environmental performance have become focal points for both enterprises and stakeholders. This study examines listed companies in China's strategic emerging industries from 2011 to 2023, using R language, calling gml package, through regression function, empirically testing whether ESG disclosure can promote and motivate improvements in corporate environmental performance. The analysis reveals that improving ESG performance enhances a company's external financing environment through two primary channels: increased attention from external analysts and enhanced resource investment. A heterogeneity analysis shows that ESG disclosure is more effective in improving the external financing environment for non-high-tech enterprises, companies with younger executives, non-state-owned enterprises, and firms in regions with higher market competition.

Keywords: strategic emerging industries; ESG performance; external financing capability; corporate environmental performance improvement (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-638-3_34

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DOI: 10.2991/978-94-6463-638-3_34

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