Abstract
This paper investigates the impact of China's Leading Officials' Natural Resources Accountability Audit (NRAA) on corporate Environmental, Social, and Governance (ESG) performance, using its implementation as a quasi-natural experiment. Findings highlight the NRAA's positive effect on ESG performance, primarily driven by increased folk environmental monitoring (FEM). The impact is more evident in firms with higher institutional shareholdings, lower information asymmetry, and within regions with strong legal frameworks. These results align with the NRAA policy's objective of promoting sustainable development and addressing ecological concerns through its positive role in corporate ESG performance.
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