ESG‐oriented analysts and corporate green innovation

Haoyu Gao, Hui Wang, Xinyu Wang and Huiyu Wen

Accounting and Finance, 2024, vol. 64, issue S1, 4977-5008

Abstract: This paper investigates whether and how analysts' ESG orientation affects corporate green innovation in China. We find that ESG‐oriented analysts in brokerage firms with strong ESG performance significantly stimulate the target firms' green innovation. Mechanism analyses suggest that ESG‐oriented analysts enhance the anticipated benefits of corporate environmental risk management, and reduces the costs associated with managerial myopia and financial frictions. The effect could not be fully explained by analysts' competence. Our findings are robust to propensity score matching and difference‐in‐differences analyses. We provide valuable insights into the crucial role of analysts' ESG values in driving innovation‐oriented corporate sustainability.

Date: 2024
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/acfi.13314

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:bla:acctfi:v:64:y:2024:i:s1:p:4977-5008

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0810-5391

Access Statistics for this article

Accounting and Finance is currently edited by Robert Faff

More articles in Accounting and Finance from Accounting and Finance Association of Australia and New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().