Corporate ESG performance and competitive strategies from the perspective of financial markets: Strategic significance of firm size

Ze Sun, Cen Cai, Haoyu Tan, Heli Ji and Tian, Grace (Li)

Finance Research Letters, 2025, vol. 77, issue C

Abstract: This study provides a comprehensive analysis of how market competition influences corporate environmental, social, and governance (ESG) performance within financial markets. The findings suggest that heightened market competition compels companies to strengthen their ESG performance. Firm size serves as a positive moderating factor in this process, enabling larger firms to better capitalize on competitive pressures to enhance their ESG efforts and refine their strategic positioning in financial markets. Although environmental information uncertainty presents challenges to corporate ESG performance, firm size also plays a moderating role in mitigating these negative effects.

Keywords: Environmental information; Industry competition; Firm size; Esg performance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:77:y:2025:i:c:s1544612325003423

DOI: 10.1016/j.frl.2025.107080

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