Do state-owned institutional investors care more about ESG? Evidence from China

James Si Zeng and Shaoxiang Jiang

Finance Research Letters, 2024, vol. 67, issue PB

Abstract: This article examines the question of whether state-owned institutional investors are more likely to incorporate ESG in their investment or voting decisions compared with other types of institutional investors. Using Chinese A-shares data, this article reveals that the ESG scores of listed corporations positively correlate with the shareholdings of state-owned and foreign institutional investors, after controlling for the aggregate shareholdings of all institutional investors. These findings suggest that in China, state-owned institutional investors play a leading role in promoting ESG performance, which deepens our understanding of ESG practice in China and generates important policy implications.

Keywords: ESG(Environmental, Social, and Governance); State-owned institutional investors; Chinese A-shares listed companies (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pb:s154461232400895x

DOI: 10.1016/j.frl.2024.105865

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