Abstract
The demand for corporate green governance competence has significantly increased in the international market in recent years, with the disclosure of corporate ESG information emerging as a crucial public concern. This study employs a coupling coordination degree model to investigate the mutually beneficial relationship between corporate ESG factors and OFDI in the Shanghai and Shenzhen A-share markets. The findings reveal: (1) a strong level of coupling coordination between corporate ESG performance and OFDI development, (2) a growth pattern in the interconnected coordination between corporate ESG performance and OFDI during 2010-2012, followed by a decline in 2012-2016, and subsequent recovery post-2016, and (3) a coupling coordination degree pattern of “East Central > West > Northeast”. This paper introduces three innovations: firstly, it extends beyond previous research by examining the relationship between ESG and OFDI bidirectionally; secondly, it utilizes the physical capacity coupling coordination degree model to assess the synergy level between corporate ESG performance and OFDI; and finally, it discusses the evolution mechanism and spatial distribution characteristics of the coupling coordination degree between corporate ESG performance and OFDI.
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