Exploring the nexus between ESG disclosure and corporate sustainable growth: Moderating role of media attention

Abstract

The nexus between ESG disclosure and corporate sustainable growth remains controversial in the existing literature. This study explores how ESG disclosure impacts sustainable growth rate (SGR) of Chinese companies from 2012 to 2022 using quantile regression method. Our results show that ESG disclosure has a favorable effect on SGR and the higher the level of ESG disclosure, the greater the promotion effect on SGR. This positive relationship is more pronounced by high media attention. In addition, digitalization as a factor leads to the heterogeneity of ESG role on SGR and media moderating effect.