Does ESG Information Disclosure Improve Green Innovation in Manufacturing Enterprises?
Sustainability,
Год журнала:
2025,
Номер
17(6), С. 2413 - 2413
Опубликована: Март 10, 2025
Based
on
the
data
of
Chinese
A-share
manufacturing
firms
from
2015
to
2021,
this
paper
employs
multiple
regression
method
explore
relationship
between
ESG
information
disclosure
and
corporate
green
innovation,
while
also
examining
impact
local
government
environmental
attention
relationship.
The
results
indicate
that:
(1)
significantly
promotes
particularly
in
eastern
central
regions
China,
as
well
areas
with
a
strong
Confucian
cultural
background;
(2)
Alleviating
financing
constraints
reducing
agency
costs
are
important
channels
through
which
influences
innovation;
(3)
Local
exhibits
an
“inverted
U-shaped”
regulating
effect
innovation.
Язык: Английский
A Ride on the Wave of “Digital” and an Advance Towards “Green”: The Spatial and Temporal Impacts of the Integration of Digital and Green Finance on the Pollution and Carbon Reduction Performance in China
Sustainability,
Год журнала:
2025,
Номер
17(6), С. 2584 - 2584
Опубликована: Март 14, 2025
The
synergistic
convergence
of
digital
and
green
finance
(DGF)
serves
as
a
critical
role
for
advancing
ecological
modernization
in
urban
systems
carbon
reduction
performance
(PCRP).
Based
on
the
symbiotic
co-evolution
(DF)
(GF),
this
study
explored
developmental
evolutionary
patterns,
spatial
effects,
influence
mechanisms
DGF
PCRP
Chinese
cities.
findings
include
following:
(1)
Between
2011
2022,
levels
both
increased
were
generally
higher
eastern
coastal
cities
than
less
developed
western
(2)
temporal
associations
showed
positive
intensifying
relationship
during
period,
with
most
showing
correlation.
(3)
Spatial
correlation
was
clearly
positive,
characterized
by
clear
trend
expansion
concentration
High-high
aggregates
an
overall
banded
distribution
all
types
aggregates.
clusters
mainly
concentrated
inland
major
cities;
notably,
Low-low
mostly
distributed
around
clusters,
relatively
stable
distribution.
(4)
In
terms
spillover
not
only
contributed
directly
to
but
also
indirectly
advanced
it
through
improving
ESG
performance,
promoting
technology
innovation
increasing
public
concern
environment.
addition,
effect
more
pronounced
parts
non-resource
This
provides
theoretical
empirical
support
deepening
promote
at
city
level.
Язык: Английский
When Environmental, Social, and Governance (ESG) Meets Shareholder Value: Unpacking the Long-Term Effects with a Multi-Period Difference-in-Differences (DID) Approach
Systems,
Год журнала:
2025,
Номер
13(5), С. 315 - 315
Опубликована: Апрель 25, 2025
As
environmental,
social,
and
governance
(ESG)
concerns
increasingly
shape
corporate
behavior,
understanding
their
financial
implications
remains
critical.
This
study
investigates
the
impact
of
ESG
performance
on
shareholder
value,
focusing
mediating
role
dividend
policy.
A
multi-period
difference-in-differences
(DID)
approach
is
applied
to
panel
data
from
Chinese
A-share
listed
firms
between
2011
2022
address
endogeneity
establish
causal
inference.
The
empirical
findings
indicate
that
strong
significantly
enhances
value
policy
a
credible
transmission
mechanism
by
signaling
stability
quality.
Heterogeneity
analysis
reveals
magnitude
effect
further
shaped
firm
size,
profitability,
ownership
concentration,
with
larger,
more
profitable,
less
concentrated
benefiting
more.
Industry-level
stronger
effects
in
capital-
technology-intensive
sectors,
comparatively
minor
labor-intensive
industries.
These
results
extend
literature
clarifying
how
translates
into
identifying
contextual
conditions
amplify
or
attenuate
its
impact.
also
offer
practical
insights
for
aligning
strategies
policies
tailoring
sustainability
regulation
organizational
industry-specific
dynamics.
Язык: Английский