{"title":"Economic indicator accuracy and corporate ESG performance","authors":"Shiqian Zhu , Haowen Tian , Chenyu Wang","doi":"10.1016/j.econlet.2024.111907","DOIUrl":null,"url":null,"abstract":"<div><p>Economic indicators are important tools used to assess the economic situation of a country or region and for macroeconomic control, and the decline in the accuracy of economic indicators creates potential risks. In this study, we use GDP as a proxy for economic indicators and empirically test the intrinsic correlation between its accuracy and firms’ ESG performance. Using A-share listed companies from 2013 to 2021 as our sample, and constructing a proxy for economic indicator accuracy through nighttime satellite data, we find that the accuracy of economic indicators significantly and positively impacts firms’ ESG performance. Furthermore, financial constraints and government intervention can strengthen this positive effect.</p></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"243 ","pages":"Article 111907"},"PeriodicalIF":1.8000,"publicationDate":"2024-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0165176524003914","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2024/8/12 0:00:00","PubModel":"Epub","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Economic indicators are important tools used to assess the economic situation of a country or region and for macroeconomic control, and the decline in the accuracy of economic indicators creates potential risks. In this study, we use GDP as a proxy for economic indicators and empirically test the intrinsic correlation between its accuracy and firms’ ESG performance. Using A-share listed companies from 2013 to 2021 as our sample, and constructing a proxy for economic indicator accuracy through nighttime satellite data, we find that the accuracy of economic indicators significantly and positively impacts firms’ ESG performance. Furthermore, financial constraints and government intervention can strengthen this positive effect.
期刊介绍：
Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.
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