Business Strategy and the Environment,
Год журнала:
2024,
Номер
33(5), С. 4310 - 4330
Опубликована: Фев. 4, 2024
Abstract
With
the
rise
of
environmental,
social,
and
governance
(ESG)
investment
concepts,
foreign
institutional
investors
have
become
increasingly
concerned
about
corporate
ESG
performance.
Based
on
data
China's
A‐share
listed
companies
from
2011
to
2021,
we
empirically
find
that
performance
enhances
hold
shares.
Economic
policy
uncertainty
significantly
reduces
impact
investors'
shareholdings.
The
mechanism
analyses
show
information
asymmetry
reputation
are
two
transmission
channels
for
influence
Further
analysis
shows
with
good
prone
heavy
investments
long‐term
shareholdings
investors.
heterogeneity
effect
is
more
significant
among
firms
not
state‐owned,
high
business
risk
in
heavily
polluting
industries.
