Fintech and Corporate ESG Performance: An Empirical Analysis Based on the NEV Industry

Xinhao Huang (), Di Li and Meng Sun
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Xinhao Huang: School of Economics and Management, Changchun University of Technology, Changchun 130012, China
Di Li: School of Economics and Management, Changchun University of Technology, Changchun 130012, China
Meng Sun: Northeast Asia Research Center, Jilin University, Changchun 130012, China

Sustainability, 2025, vol. 17, issue 2, 1-21

Abstract: With the strategic background of accelerating the transformation of the low-carbon economy in China, how to better help the new energy automobile industry realize green and high-quality development under the goal of “dual-carbon” with the strengthening of science and technology has become one of the most important issues nowadays, and it is of great significance to explore the relationship between financial technology (fintech) and the environmental, social, and governance (ESG) performance of the new energy automobile (NEV) industry. Using panel data from NEV companies listed on the Shanghai and Shenzhen A-share markets between 2011 and 2022, this study applies text mining techniques to construct a fintech index and analyze the transmission mechanisms through which fintech influences ESG performance. The findings show that fintech directly improves ESG outcomes for NEV companies, a result that remains robust across a series of validation tests. The analysis reveals that fintech reduces financing constraints and enhances corporate environmental information disclosure, which in turn drives better ESG performance. Furthermore, the impact of fintech is particularly pronounced in state-owned enterprises, large-scale firms, and technologically advanced NEV companies, as evidenced by heterogeneity analysis. This study provides empirical insights into fintech’s role in advancing sustainable development in the NEV sector, offering guidance for policymakers and industry stakeholders aiming to align technological progress with environmental and social governance objectives.

Keywords: financial technology; ESG performance; new energy vehicle industry; financing constraints; quality of industrial environmental information disclosure (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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