ESG disclosure and firm long-term value: The mediating effect of tax avoidance

Wei Yuan, Minqiang Zhang, Xiaomei Guo and Yihuo Jiang

Finance Research Letters, 2025, vol. 83, issue C

Abstract: Exploiting a large dataset consisting of listed companies on Chinese stock exchanges from 2015 to 2024, this study investigates the profound effects of ESG disclosure on firm value in the long run, with an extraordinary focus on the role of tax avoidance. The empirical evidence suggests that ESG disclosure substantially boosts firm long-term value and tax avoidance represents one of the key economic channel. Additionally, further research reveals that this positive relationship is large among small firms and non-state-owned firms. Overall, this research advances the finance literature on the implications of ESG for corporate outcomes.

Keywords: ESG disclosure; Long-term value; Tax avoidance; Transparency (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009869

DOI: 10.1016/j.frl.2025.107728

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