The Development of a Model to Quantify the Impact of ESG Principles on Chinese Corporate Investments in Joint Projects with Partner Countries, Using Russia and the CIS as Examples

Zinan Li and Bingyu Xia

Chapter 42 in The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution, 2026, pp 495-504 from World Scientific Publishing Co. Pte. Ltd.

Abstract: By constructing a regression analysis model, this research quantitatively evaluates the impact of implementing ESG (environmental, social, and governance) policies in Russia and the CIS countries on Chinese companies’ investment decisions in the region. The authors propose three hypotheses that explore the impact of ESG policy strictness, policy transparency, and the company’s own ESG performance on the investment scale. By collecting relevant data and conducting empirical analysis, variables such as market size, resource endowment, political stability, and exchange rate fluctuations are included. According to the research findings, some factors, such as policy strictness and market size, exhibit a positive but statistically insignificant impact on the investment scale. Meanwhile, other factors, including policy transparency and corporate ESG performance, show no significant influence on the investment scale. The research reveals the specific role of ESG policies in promoting or hindering Chinese companies’ investment in Russia and the CIS countries. The research results indicate that ESG policy stringency and market size have a positive but statistically insignificant impact on the investment scale of Chinese companies in Russia and CIS countries. Similarly, factors such as policy transparency and the company’s own ESG performance show no significant influence on the investment scale. Other control variables, including resource endowment and political stability, also exhibit a positive but insignificant effect on the investment scale. These findings provide valuable insights for policymakers and companies as they navigate investment strategies in these regions.

Keywords: Sustainable Development; Entrepreneurship; Innovation; Technology; Information Management; Organizational Behavior; Industrial Organization; Entrepreneurial Economy; Fifth Industrial Revolution; Cause-and-Effect Relationships; Fourth Industrial Revolution; Digital Technology; Industry 5.0; Operations Management; Operations Research; Supply Chain Management; Fintech; Cryptocurrency; Blockchain; Economics and Finance; Corporate Governance; Technological Environment; National Economy; State Management; Corporate Management; Agro-Industrial Complex 5.0; Fuel and Energy Complex 5.0; BRICS; EAEU; Central Asia; Social Responsibility; Digital Competitiveness; Digital Energy; Entrepreneurial Universities 5.0; Machine Learning; Cyber-Social System; Smart Company; Management of AI; Automatization; Decision-Making in Entrepreneurship; Big Data; Blockchain Finance; Robotisation Of Production; Applied Technological Solutions; Smart City; Local Entrepreneurial Economy; Modernisation; Institutes of Globalisation; E-Government; Innovative Economy; Knowledge Society; BRICS+ (search for similar items in EconPapers)
JEL-codes: L26 O33 Q01 (search for similar items in EconPapers)
Date: 2026
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