所属栏目:新金融/绿色金融

Economic Policy Uncertainty and Corporate ESG Performance
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发布日期:2024年05月09日 上次修订日期:2024年05月09日

摘要

Using the sample of Chinese A-share listed firms from 2020 to 2021, this study investigates the impact of EPU on corporate ESG performance. We find that EPU improves corporate ESG performance, and the results largely hold after a series of robustness tests. Furthermore, EPU has a significantly positive effect on each dimension of corporate ESG performance (environment, society and governance). In addition, we document that the positive effect of EPU on corporate ESG performance is more pronounced for state-owned firms, and firms with better internal governance, better external governance, and firms that are more financially-constrained. This study provides large-sample empirical evidence for the effect of EPU on corporate ESG performance, which provides implications for management to make use of corporate ESG performance in the face with uncertain economic policy environment.
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Lu Zheng; Zhibin Chen Economic Policy Uncertainty and Corporate ESG Performance (2024年05月09日) http://www.cfrn.com.cn./lw/15680.html

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