Can green finance improve corporate ESG performance? Empirical evidence from Chinese A-share listed companies

被引：2
|
作者：
Zhu, Huiqi [1 ]
Li, Xiaofan [1 ]
机构：
[1] Wuhan Inst Technol, Sch Law & Business, 206 Guanggu 1st Rd,Donghu New & High Technol Dev Z, Wuhan 430025, Peoples R China
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2024年
关键词：
Green finance; ESG performance; financing constraints; corporate social responsibility awareness; difference-in-differences; INDUSTRIES;
D O I：
10.1080/16081625.2024.2371302
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Leveraging China's 2017 Green Finance Reform and Innovation Pilot Zone Policy (GFPP) as an exogenous shock, this study selects A-share listed companies spanning from 2014 to 2022 as the sample, employing the difference-in-differences (DID) to examine the impact and mechanism of GFPP on corporate ESG performance. The study reveals that GFPP significantly enhance corporate ESG performance, with corporate financing constraints and social responsibility awareness mediating this relationship. Furthermore, the incentivizing effect of GFPP on corporate ESG performance is notably pronounced in enterprises located in the eastern region, small-scale enterprises, non-state-owned enterprises, and heavily polluting industries.
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页数：18
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