Fixed-effects Regression Models Research Articles

Reassessing Chronic Strain: A Research Note on Women's Income Dynamics After Divorce and Separation.

The economic consequences of divorce and separation for women are commonly associated with the chronic strain model, according to which women's losses are large and persistent. This research note shifts the focus to a crisis model highlighting women's potential of, and routes to, recovery from initial losses. Drawing on German Socio-Economic Panel data (1984-2021) on women in marital and cohabiting unions (N ∼ 27,000 women, N ∼ 3,400 divorces and separations), we use fixed-effects regression models and event-history models to analyze changes in equivalized monthly household income and poverty risk across the process of divorce and separation. Results show that most women recovered from their initial economic declines. Although initial losses were common and often sizable, large fractions of women eventually returned to or exceeded the household income expected in the absence of divorce and separation. Recovery was facilitated by the "traditional" route of repartnering and the "modern" route of women mobilizing their productive skills. Both routes appeared more important than the absence of barriers, such as children in the household. We conclude that for the majority of women, the economic consequences of divorce and separation are better described as a temporary crisis than as a chronic strain.

Changes in Resources and Volunteering: A Longitudinal Study of Active Engagement Among Older Europeans.

Volunteering is an important dimension of successful aging. Although prior studies have found that personal resources such as health and financial situations are associated with volunteering, there is a lack of research exploring the relationship between resource changes and volunteering. Here, we investigated whether changes in individuals' resources were associated with volunteer engagement among older Europeans. Using data from the Survey of Health, Aging, and Retirement in Europe, collected in five waves between 2011 and 2020 across 19 countries (57,410 observations from 17,498 individuals aged 50 and above), we employed asymmetric fixed-effect ordinal regression models to investigate whether positive or negative resource changes were associated with the frequency of volunteering over time. We used three resource indicators: health, financial condition, and time availability (measured by engagement in paid work, grandparenting, and family care). Health deterioration and worsening financial condition were associated with a decreased frequency of volunteering. A transition out of weekly paid work and beginning to provide weekly grandchild care were both associated with an increased frequency of volunteering. We did not detect any further significant effects of resource changes on volunteering. Our study revealed asymmetrical associations between changes in resources and volunteering, providing new insights into their interplay. The results deepen our understanding of successful aging by emphasizing the need to consider the dynamics of all resources that either facilitate or hinder active engagements among older adults.

Green Investor Holdings and Corporate Green Technological Innovation

This study builds upon existing research on institutional investors and corporate green innovation by distinguishing green investors, who prioritize environmental contribution, from general institutional investors. Drawing on the stakeholder theory and the Porter hypothesis, we hypothesize that the shareholdings of green investors can effectively stimulate corporate enthusiasm for green innovation, with state ownership exerting a positive moderating influence. Utilizing panel data from China’s A-share listed manufacturing firms spanning from 2010 to 2019, we employ a fixed effect regression model to test these hypotheses. Our empirical findings confirm our expectations, demonstrating that green investors’ shareholdings indeed foster corporate green innovation. Moreover, we observe that this positive relationship is amplified within state-owned enterprises, indicating the presence of a robust and stable environmental regulatory framework across the market. Additionally, our results support the Porter hypothesis, suggesting that adherence to environmental regulations can coexist with firm performance rather than being mutually exclusive. This study contributes to the literature on green investors and corporate green innovation, providing valuable insights for the development of China’s green financial system and sustainable development strategies.

Factors associated with differential seropositivity to Leptospira interrogans and Leptospira kirschneri in a high transmission urban setting for leptospirosis in Brazil.

Leptospirosis is a zoonosis caused by pathogenic species of bacteria belonging to the genus Leptospira. Most studies infer the epidemiological patterns of a single serogroup or aggregate all serogroups to estimate overall seropositivity, thus not exploring the risks of exposure to distinct serogroups. The present study aims to delineate the demographic, socioeconomic and environmental factors associated with seropositivity of Leptospira serogroup Icterohaemorraghiae and serogroup Cynopteri in an urban high transmission setting for leptospirosis in Brazil. We performed a cross-sectional serological study in five informal urban communities in the city of Salvador, Brazil. During the years 2018, 2020 2021, we recruited 2.808 residents and collected blood samples for serological analysis using microagglutination assays. We used a fixed-effect multinomial logistic regression model to identify risk factors associated with seropositivity for each serogroup. Seropositivity to Cynopteri increased with each year of age (OR 1.03; 95% CI 1.01-1.06) and was higher in those living in houses with unplastered walls (exposed brick) (OR 1.68; 95% CI 1.09-2.59) and where cats were present near the household (OR 2.00; 95% CI 1.03-3.88). Seropositivity to Icterohaemorrhagiae also increased with each year of age (OR 1.02; 95% CI 1.01-1.03) and was higher in males (OR 1.51; 95% CI 1.09-2.10), in those with work-related exposures (OR 1.71; 95% CI 1.10-2.66) or who had contact with sewage (OR 1.42; 95% CI 1.00-2.03). Spatial analysis showed differences in distribution of seropositivity to serogroups Icterohaemorrhagiae and Cynopteri within the five districts where study communities were situated. Our data suggest distinct epidemiological patterns associated with the Icterohaemorrhagiae and Cynopteri serogroups in the urban environment at high risk for leptospirosis and with differences in spatial niches. We emphasize the need for studies that accurately identify the different pathogenic serogroups that circulate and infect residents of low-income areas.

Association Between Changes in Sleep, Nap Duration and Bone Mineral Density in Mexican Adults.

Studies have found associations between sleep, nap duration, and bone mineral density (BMD). However, the longitudinal relationship between sleep, nap duration, and BMD has not been explored. We evaluated the association between the change in sleep and nap duration and BMD in Mexican adults. Data come from 1,337 adult participants of the Health Workers Cohort Study (341 were men and 996 were women, including 450 women < 45years old and 546 ≥ 45years old), with two study waves. At each wave, sleep and nap duration was assessed using self-administered questionnaires and BMD in g/cm2 was determined by dual X-ray absorptiometry. We used fixed-effect regression models stratified by sex and adjusted for BMI, diet, physical activity, vitamin supplements, and hormone replacement therapy. Women who changed from < 7 to ≥ 7h/day of sleep from baseline to follow-up were associated with increases in the total hip (β = 0.012g/cm2; 95% CI: 0.002, 0.022) and lumbar spine BMD (β = 0.024g/cm2; 95% CI: 0.009, 0.039). Furthermore, most of these associations were observed in women ≥ 45years. For women, a changing from 0 to > 60min/day of napping was associated with a significant increase in total hip BMD of 0.012g/cm2 (95% CI: 0.004, 0.024) and lumbar spine BMD of 0.027g/cm2 (95% CI: 0.009, 0.045). No significant associations were observed for men. Our results suggest that increased sleep and nap duration are associated with gains in BMD in Mexican women, emphasizing sleep's role in promoting bone health and supporting established recommendations.

Research on the impact of green insurance on regional environmental quality: evidence from China

Green insurance (GI), as an innovative product integrating environmental protection and the financial sector, not only contributes to improving regional environmental quality (EQ) but also enhances corporate environmental risk management and awareness, driving the flourishing development of green finance and the environmental protection industry. Therefore, understanding the relationship between GI and EQ is crucial. This article delves into the mechanisms through which GI influences EQ, proposing a hypothesis that suggests an inverted “U” shape impact. Subsequently, based on panel data from 30 provinces in China spanning from 2000 to 2021, nonlinear regression models and threshold regression models were constructed to test the hypothesis. The research findings indicate: (1) Results from the fixed-effects regression model demonstrate that the impact of GI on China’s EQ follows an inverted “U” shape. (2) Results from the threshold regression model also reveal an inverted “U” shape impact of GI on China’s EQ, with a threshold value of 2.196. (3) Economic level and industrial structure exhibit significant inhibitory effects on EQ improvement. Technological level and environmental regulations demonstrate notable promotional effects. Population size shows no significant impact on EQ improvement. The study identifies a nonlinear effect of GI on EQ improvement, surpassing existing linear effect research, deepening the understanding of its impact on EQ, and contributing to the enhancement of regional EQ.

Does Industrial Intelligence Promote Sustainable Employment?

One of the key driving factors for achieving the goal of sustainable economic development is to ensure decent employment opportunities. This article explores the relationship between industrial intelligence and sustainable development in China from the perspective of employment. Based on interprovincial panel data from 2006 to 2019, using the fixed-effect regression model and mediating-effect regression model, this study empirically tests the impact of industrial intelligence on sustainable employment in China. The following conclusions are drawn: (1) Industrial intelligence has a significant positive impact on the overall scale of employment. Industrial intelligence has promoted the optimization and upgrading of employment skill structure and industrial structure. Industrial intelligence will reduce the employment proportion of low-skilled labor and increase the employment proportion of medium-skilled labor and high-skilled labor. Industrial intelligence significantly reduces the employment share of the manufacturing sector and increases the employment share of the service sector. (2) Industrial intelligence reduces employment levels through capital deepening effects. Industrial intelligence has significantly improved regional labor productivity and significantly improved employment levels through productivity effects. (3) The results of regional heterogeneity show that industrial intelligence has promoted the improvement of employment level and the upgrading of employment structure in the eastern region but has not had a significant positive impact on other regions.

Carry that weight: Parental separation and children’s Body Mass Index from childhood to young adulthood

Research has shown that parental separation is associated with worse physical health and unhealthy weight gains during childhood. However, limited empirical attention has been given to the evolution of child health before, upon and following parental union dissolution. Drawing on data from the Child Development Supplement and the Transition to Adulthood Supplement of the Panel Study of Income Dynamics (1997-2017), I investigate whether parental union dissolution during childhood is associated with children’s Body Mass Index (BMI) and the risk of developing overweight/obesity in the short and long run (n=2,675 children aged 0-12 in 1997). The results from a combination of propensity score matching and fixed-effects linear regression models show that union dissolution is associated with increases in child BMI and an increased risk of developing overweight/obesity. These changes in children’s weight status persist for at least ten years after parental separation. Unhealthy weight gains following parental separation are more pronounced among female children and those with lower-educated and non-White parents. The findings suggest that in the United States parental union dissolution contributes to increase socioeconomic inequalities in child health. Therefore, children with separated parents and lower socioeconomic backgrounds have greater risks of developing overweight/obesity and other obesity-related morbidities over their life courses.

Ego–network stability or ego–network expansion? The effects of ego–network dynamics on recombinant innovation under heterogeneous knowledge base

PurposeThis paper aims to investigate the antecedents of recombinant innovation from the perspective of ego–network dynamics, and further disentangle whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under heterogeneous knowledge base.Design/methodology/approachThis paper uses 1,801 patent data in China’s biotechnology field as a sample and adopts fixed effects regression model to examine the effects of ego–network dynamics on recombinant innovation and further uses the Wald tests to discern which ego–network dynamic is more conducive to recombinant innovation under heterogeneous knowledge base.FindingsThe empirical results indicate that ego–network dynamics have a positive impact on recombinant innovation. Specifically, for firms with high knowledge breadth and high knowledge depth as well as high knowledge breadth and low knowledge depth, ego–network stability is more conducive to recombinant innovation. By contrast, for firms with low knowledge breadth and high knowledge depth, recombinant innovation benefits more from ego–network expansion. As for firms with low knowledge breadth and low knowledge depth, both ego–network stability and ego–network expansion can promote recombinant innovation, while the effects are not significant.Practical implicationsThis research may enlighten managers to choose suitable ego–network dynamics strategies for recombinant innovation based on their knowledge base.Originality/valueThis research not only contributes to the literature on recombinant innovation by revealing the impact of different ego–network dynamics on recombinant innovation but also contributes to network dynamics theory by exploring whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under a heterogeneous knowledge base.

Analysis of Interactions among Greenhouse Gas Emissions, Carbon Sinks, and Food Security in China’s Agricultural Systems

Reducing greenhouse gas (GHG) emissions and increasing the size of carbon sinks are closely related to food security in agricultural systems. This study conducted an in-depth data analysis of previous studies to explore the dynamic causal relationships among the reduction of emissions, carbon sink increases, and food security in agricultural systems. The fixed-effect regression model, causality tests, PVAR model, impulse response functions, and variance decomposition were used to explore correlations among the three variables. The results show that the national average carbon sinks surged from 2662.194 Mg in 2000 to 4010.613 Mg in 2020, with the food security index concurrently climbing from 0.198 to 0.308. Moreover, GHG emissions exhibited a negative growth rate from 2016 onwards, yet the 2020 mean remained 142.625 Mg above the 2000 baseline. The agricultural “three subsidies” reform has not directly promoted food security, but significantly inhibited GHG emissions. However, conflicts exist between emissions reduction and carbon sinks increase in agricultural systems and food security. At the whole level, changes in carbon sinks only have a positive effect on the increase in GHG emissions, whereas changes in GHG emissions have a positive effect on both carbon sinks and food security. Changes in food security strongly inhibit the increase in carbon sinks. This relationship varies among distinct grain functional zones. Policy objectives should be coordinated, target thresholds set, and policies classified according to different functional orientations, to achieve a win–win situation for food supply and low-carbon development.

Pengaruh PMA, PMDN, Ekspor, Belanja Pendidikan dan Belanja Kesehatan terhadap Pertumbuhan Ekonomi Di Provinsi dalam Pulau Sumatera

This was a quantitative study. The data were secondary data from six Provinces in Sumatera in the period 2010-2021 obtained from the BPS and DJPK. The data were panel data analysis using the fixed effect regression model processed by Eviews 12. The results of the study showed that: 1) foreign investment have significant positive effect on economic growth in Sumatera with a probability value of 0.0035. 2) domestic investment have significant positive effect on economic growth in Sumatera with a probability value of 0.0001. 3) Exports have no significant effect on economic growth on the island of Sumatra with a probability value of 0.08019. 4) Education spending has a positive and significant influence on economic growth on the island of Sumatra with a probability value of 0.0006. 5) Health expenditure has a positive and significant influence on economic growth on the island of Sumatra with a probability value of 0.0091. The R-squared value in this study is 0.986931, this means that the contribution of all independent variables in explaining the variable is 98.69%.

Stock repurchases, ownership structure and board composition: evidence from Thailand

Purpose This study aims to examine the influence of ownership structure and board composition on the probability and intensity of stock repurchases. The study’s sample comprises 3,744 firm-year observations, consisting of 53 repurchasing firms with 96 firm-year observations from 2008 to 2019. Design/methodology/approach Probit and fixed-effects regression models are used to obtain empirical results. Moreover, a probit model with a continuous endogenous regressor (IV-probit) and an instrumental variable method with two-stage least squares (IV-2SLS) estimation are used to address endogeneity. Findings Corporations with high family or state ownership tend to inhibit stock repurchases to hoard excess free cash flow, supporting agency theory. Conversely, firms with high board independence tend to repurchase their stocks at least once to distribute free cash flows to shareholders, confirming agency theory. Nonetheless, corporations with more female directors on the board or CEO duality tend to conduct stock repurchases at least once but do not repurchase stocks with high values. Interestingly, more female directors on the board may send false signals about undervalued stocks. Originality/value This is the first study to reveal that firms with CEO duality repurchase their stocks at least once but avoid repurchasing shares with high values. It is also the first study to explore whether women on a board may cause false signaling about undervalued stocks. Furthermore, this study reveals that family and state ownership are potential determinants of stock repurchases in countries with high ownership concentration. This is the first study to address this issue in Thailand.

COVID-19 Imposed Closure of Rural Co-Housing and Loneliness in Older Adults Living Alone: Longitudinal Evidence From South Korea.

This study aimed to examine the impact of COVID-19 on loneliness among rural older women in senior cohousing in Korea. Using a natural experimental study design, we investigated how the pandemic-induced closure of cohousing affected the former residents' loneliness. The sample comprised 84 cohousing residents and 51 individuals in conventional homes. The dependent variable is loneliness, and the independent variables include housing transition, social contact, and support from neighbors and friends. Our findings from fixed effect regression models showed former cohousing residents were less likely to experience loneliness when they had more contact with their friends and neighbors, while negative relationships exacerbated feelings of loneliness. Sharing meals and participating in activities with friends and neighbors in cohousing helped the residents develop effective coping strategies. Senior cohousing in rural areas has the potential to strengthen social ties and protect the most vulnerable subgroup of older adults from social isolation and loneliness.

How do customers’ environmental efforts diffuse to suppliers: the role of customers’ characteristics and suppliers’ digital technology capability

PurposeThe growing attention to green supply chain transparency prompts firms to disclose their environmental efforts and manage environmental issues along supply chains. Drawn upon diffusion theory, this study aims to investigate how customers’ environmental efforts can be diffused to suppliers for similar actions, as well as how customers’ (diffusors’) characteristics and suppliers’ (followers’) capability in digital technology application moderate the relationship.Design/methodology/approachThis study collects secondary data of 1,514 unique customer-supplier dyad year observations of Chinese listed firms and their disclosed environmental efforts from 2009 to 2022. A fixed-effect regression model is used to test the hypotheses.FindingsThis study reveals a positive association between customers’ disclosed environmental efforts and those of their suppliers. Furthermore, the relationship is strengthened when customers are state-owned or when suppliers possess higher levels of digital technology application capability. These findings remain robust when alternative measures of variables are employed.Originality/valueThis study contributes to the supply chain transparency literature by uncovering the diffusion mechanism of environmental efforts from customers to their suppliers. It further identifies moderators for this diffusion, including customers’ (diffusors’) ownership and suppliers’ (followers’) capability. Lastly, our study extends the applicability of diffusion theory within a buyer–supplier context.

The Impact of the Digital Economy on Employment Scale in the Yangtze River Delta Region

Abstract Employment is the greatest livelihood and the most basic support for economic development. In recent years, the scale and scope of digital economy has expanded dramatically, triggering revolutionary changes in employment patterns. Especially in the Yangtze River Delta region. This paper is based on panel data of 41 prefecture level cities in the Yangtze River Delta region from 2011 to 2021. Firstly, the fixed-effects regression model is used to empirically analyze the impact of the digital economy on the employment scale in the YRD region, and the intermediary mechanism model is further used to verify the role of industrial structure upgrading in the digital economy's impact on the employment scale. The study finds that: The digital economy has significantly expanded the employment scale in the YRD region, indicating that the employment creation effect is greater than the employment substitution effect. In the heterogeneity analysis, this impact is more significant in the central cities of the YRD region, areas with higher levels of urbanization and well-developed digital infrastructures. The digital economy can promote the optimization and upgrading of the employment market in the YRD region through the upgrading of the industrial structure, expanding the scale of employment, optimizing the employment structure. Keywords: Digital economy development, Yangtze River Delta region, Employment scale, Industrial structure upgrade.

Ethnic differences in metabolic syndrome in high-income countries: A systematic review and meta-analysis.

This review aimed to systematically quantify the differences in Metabolic Syndrome (MetS) prevalence across various ethnic groups in high-income countries by sex, and to evaluate the overall prevalence trends from 1996 to 2022. We conducted a systematic literature review using MEDLINE, Web of Science Core Collection, CINAHL, and the Cochrane Library, focusing on studies about MetS prevalence among ethnic groups in high-income countries. We pooled 23 studies that used NCEP-ATP III criteria and included 147,756 healthy participants aged 18 and above. We calculated pooled prevalence estimates and 95% confidence intervals (CI) using both fixed-effect and random-effect intercept logistic regression models. Data were analysed for 3 periods: 1996-2005, 2006-2009, and 2010-2021. The pooled prevalence of MetS in high-income countries, based on the NCEP-ATP III criteria, was 27.4% over the studied period, showing an increase from 24.2% in 1996-2005 to 31.9% in 2010-2021, with men and women having similar rates. When stratified by ethnicity and sex, ethnic minority women experienced the highest prevalence at 31.7%, while ethnic majority women had the lowest at 22.7%. Notably, MetS was more prevalent in ethnic minority women than men. Among ethnic minorities, women had a higher prevalence of MetS than men, and the difference was highest in Asians (about 15 percentage points). Among women, the prevalence of MetS was highest in Asians (41.2%) and lowest in Blacks/Africans (26.7%). Among men, it was highest in indigenous minority groups (34.3%) and lowest among in Blacks/Africans (19.8%). MetS is increasing at an alarming rate in high-income countries, particularly among ethnic minority women. The burden of MetS could be effectively reduced by tailoring interventions according to ethnic variations and risk profiles.

Do Institutional Quality and Natural Resources Affect the Outward Foreign Direct Investment of India?

The institutional quality and natural resources of the host country are among the essential determinants of outward foreign direct investment (OFDI). The present study is performed to examine the role of the host country’s institutional quality and natural resources on Indian OFDI for the panel of 15 countries concerning the period from 2001 to 2020. The study uses the fixed-effect panel regression model and found that host nations’ political stability, voice and accountability, absence of violence or terrorism, rule of law, and control of corruption attract FDI from India. Further, the government’s efficacy and regulatory quality do not have a considerable impact on Indian OFDI. The study also found that the natural resources of the host nation play an important role in the international diversification of investments made by Indian investors. It is recommended to the government of host nations to strengthen their institutional quality as good-quality institutions add to the growth of entrepreneurship, encourage investment, and therefore stimulate the economic growth of the economy.

Enhancing urban public service efficiency through the national civilized city policy: an empirical analysis of 282 cities in China from 2005 to 2019

ABSTRACT Public service supply is a cornerstone of urban functionality, with enhancing efficiency being pivotal for sustainable urban development. In China’s urban development strategy, the National Civilized City (NCC) policy stands out as a key tool aimed at bolstering public service efficiency. By analyzing data from 282 Chinese cities spanning 2005 to 2019 and employing the ‘authoritative incentive-technology control’ framework, this study utilizes a fixed-effect regression model to delve into the mechanisms underlying the NCC policy’s impact on public service efficiency. Key findings include: (1) Notably, the NCC policy significantly improves urban public service efficiency, primarily propelled by directives from central authorities (2) The effectiveness of the policy varies across administrative tiers, with a more pronounced impact observed in lower-level cities.(3) Technical control mechanisms, particularly constraint controls, predominantly sustain policy effects (4) The enhancement of urban public services in China hinges on top-down policy incentives, emblematic of a dynamic central-local relationship characterized by the upward transfer of policy power and governance decentralization.

An Empirical Study of the Relationship Between Digital Transformation, Corporate Social Responsibility and Financial Performance

The article investigates the impact of corporate social responsibility (CSR) and digital transformation (DT) on corporate financial performance (CFP) indicators, as well as the moderating effect of DT on the relationship between CSR and CFP indicators. The study was conducted using Stata 17.0 software based on data (5709 observations) on 558 A-share listed manufacturing companies of the Shanghai and Shenzhen Stock for 2012-2021 (excluding financial and insurance companies, ST and ST* companies, as well as companies with incomplete data). The independent variable used in the modelling process is the CSR rating report of the Hexun website, indicators of which are reconstructed by dividing them into strategic CSR (shareholder responsibility, employee responsibility, customer responsibility) and altruistic CSR (environmental responsibility and social contribution). The dependent variable is 2 CFP indicators: return on equity (ROE) and TOBIN’s Q. The DT index is used as a moderating variable, for the calculation of which the texts of companies’ annual reports were segmented using the Python programming language and standardised data on the frequency of keywords in 4 dimensions: digital technology application, Internet business model, intelligent manufacturing and contemporary information system; the weights for each dimension index was determined using the entropy approach. The control variables are corporate assets (Size), financial leverage level (Lev), current ratio (Cur), firm growth (Gro), shareholding ratio of the largest shareholder (First) and technological innovation (RD) of companies. The study also considered the year and industry factors. To study the moderating effect of DT on the relationship between CSR and CFP indicators of companies in different situations, the grouping variables chosen were the ownership type (state-owned and non-state-owned companies), the enterprise lifecycle (cash flow portfolio method was used to identify its stages) and the degree of market competition (Herfindahl-Hirschman Index). The modelling is based on a fixed-effects regression model. The study found that both CSR and DT have a positive impact on CFP, and that DT moderates the relationship between CSR and CFP, indicating that integrating digital technologies with sustainable development strategies can enhance financial benefits. The study also highlights the importance of different dimensions of corporate social responsibility. A high level of digital transformation strengthens the promotion effect of strategic social responsibility on current and future financial success of companies. Meanwhile, the promotion effect of altruistic social responsibility on current financial performance is significant. Heterogeneity analysis shows that the positive moderating effect of digital transformation on the relationship between corporate social responsibility and financial performance mainly applies to private firms, firms in the mature stage, and firms with low market competition. The article offers practical advice for businesses seeking to use digital transformation to maximise economic and social value.

Can ESG ratings promote green total factor productivity? Empirical evidence from Chinese listed companies

Against the backdrop of frequent extreme climates and international consensus on green and low-carbon development, Environmental, Social, and Governance (ESG) has progressively drawn increasing attention. Integrating the perspectives of stakeholder theory and signaling theory, this study employed the Malmquist-Luenberger productivity index, fixed-effects regression model, mediating effect model, propensity matching score difference-in-differences model, and a two-stage least squares method. Using the research sample of Chinese A-share listed companies between 2011 and 2021, the mechanisms linking ESG ratings and each component (the individual scores of E, S, and G) with the green innovation and green total factor productivity (GTFP) of enterprises were investigated. This study conducted heterogeneity analysis integrating regional, industry, and enterprise dimensions, fully considered the potential endogeneity issues, and conducted multiple robustness tests by exploring alternative approaches, replacing the measures of indicators, and reducing the research sample. The results demonstrated that higher ESG ratings significantly improved the green innovation and GTFP of enterprises. This improvement was achieved through the stakeholders and signaling mechanisms, and was more prominent in economically underdeveloped regions, patent-intensive industries, and industries with lower environmental risk. In addition, the impact varied among enterprises with different property rights. The findings elucidate the pathways through which soft regulation influences micro-level corporate decision-making, making significant contributions to the literature. Furthermore, this study provides a theoretical foundation and policy reference for constructing a positive feedback loop mechanism for ESG ratings and promoting the green transformation and upgrading of enterprises.