Abstract
ABSTRACT This study provides novel evidence on both macro and micro effects of stock market liberalization on firms’ ESG performance based on the policy shock of stock market connect between mainland China and Hong Kong (China Connect). Through a staggered difference-in-differences framework, we find that the stock market liberalization has an ESG-enhancing effect. Furthermore, we show that the potential mechanisms include improved financing conditions and propagation of ESG concerns from global investors.
Sign-in/Register to access full text options 
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.
