ESG Enterprise Hybrid Risk Diversification Mechanism Based on Third‐Party Guarantee

Jiaxin Zhuang, Yinglin Wang and Shengxu Shi

Managerial and Decision Economics, 2025, vol. 46, issue 7, 4032-4055

Abstract: To alleviate the financial burden of supporting ESG disclosures, this study introduces third‐party institutions and proposes two alternative models: GFSL (Guarantee First, Subsidy Later) and SFGL (Subsidy First, Guarantee Later). Using evolutionary game theory, it analyzes strategic decisions and compares models through numerical simulations. Results show that subsidy caps and premium levels must be balanced carefully. SFGL suits cases with minimal external influence, while FGS with dynamic incentives fits strong responders. For opportunistic enterprises, SFGL is preferred. This study offers theoretical insights and practical guidance for optimizing ESG subsidy strategies and advancing sustainable finance.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1002/mde.70001

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:wly:mgtdec:v:46:y:2025:i:7:p:4032-4055

Access Statistics for this article

Managerial and Decision Economics is currently edited by Antony Dnes

More articles in Managerial and Decision Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().