Abstract
This paper uses data from Chinese A-share listed companies (2007∼2021) to investigate the impact of ESG performance on corporate competitiveness and its mechanism. Using a fixed-effects model, this paper finds that ESG performance significantly enhances corporate competitiveness. ESG exerts its influence by reducing financing constraints, enhancing corporate reputation, reducing agency conflicts, and promoting innovation. Heterogeneity analysis finds that firm size, financing convenience, local fiscal spending on science, and management ownership moderate this effect. This study enriches research on the drivers of corporate competitiveness and provides empirical support for long-term value investing in ESG in emerging markets.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
