Informal Environmental Regulation and Corporate ESG Performance

Dianmin Yu () and Anran Zhang ()
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Dianmin Yu: Hebei University of Technology, School of Economics and Management
Anran Zhang: Hebei University of Technology, School of Economics and Management

A chapter in Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024), 2024, pp 521-533 from Springer

Abstract: Abstract In recent years, the environment, society, and governance have played an increasingly important role in the development of enterprise operations. However, the driving factors of ESG performance have not been fully studied. This paper takes China’s A-share listed companies in Shanghai and Shenzhen from 2011-2021 as a sample, and theoretically analyzes and empirically tests the impact of informal environmental regulation on enterprise ESG performance. The research results show that informal environmental regulation has a significant positive impact on enterprise ESG performance, which is still valid after multiple robustness tests and endogenous tests. We verified that executive environmental awareness has a moderating effect on the relationship between informal environmental regulations and ESG performance. Further analysis indicates that the research findings are more pronounced for companies with high reputation and high analyst coverage. Our research enriches the literature on ESG driving factors and highlights the supervisory role of informal environmental regulations in promoting sustainable development of enterprises.

Keywords: Informal environmental regulation; ESG; Environmental investment; Executive environmental awareness (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-488-4_59

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DOI: 10.2991/978-94-6463-488-4_59

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