Research on the Impact of Management Tone on ESG Rating of Enterprises

Lina Liu and Xuemin Cui ()
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Lina Liu: Shandong Normal University, Business School
Xuemin Cui: Shandong Normal University, Business School

A chapter in Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025), 2025, pp 302-308 from Springer

Abstract: Abstract As an evaluation criterion for enterprise green development and investment decisions, the ESG evaluation index has become a hot topic in China, and the tone of management can convey rich information and provide references for investors. Thus, it is extremely important to study whether management intonation information can be used as a reference factor for ESG rating agencies. In this study, we empirically examined the influence of management tone on ESG rating and its mechanism using annual data from listed companies from 2012 to 2022 as samples. The empirical results show that the more optimistic the tone of management debate and analysis, the more obvious the improvement effect on ESG rating. Further analysis shows that positive management tone can promote enterprises to make more environmental investment and green innovation, attract environmental investors to enter, and improve corporate reputation and promote enterprises to improve ESG rating. The results of this study offer theoretical support. And principles for optimizing management tone and improving ESG rating.

Keywords: management tone; ESG rating; green investors enter (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-702-1_33

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DOI: 10.2991/978-94-6463-702-1_33

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