{"title":"ESG绩效与投资扩张:来自中国上市公司的证据","authors":"","doi":"10.1016/j.frl.2024.106072","DOIUrl":null,"url":null,"abstract":"<div><p>Using the listed company datasets from 2010 – 2022, this paper explores how environment, society, and governance (ESG) performance affects enterprises’ investment expansion. By employing a series of forefront empirical methods, our study finds that enterprises with better ESG performance have higher propensity of investment expansion. The conclusion shows robustness when considering the endogeneity problem and in robustness tests. Additionally, we explore the dynamics of ESG's effects on investment expansion and the impacts from different pillars. Finally, we discuss the mechanism from the perspective of financing sources. This study provides insights for promoting the structural transformation of China's economy.</p></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":null,"pages":null},"PeriodicalIF":7.4000,"publicationDate":"2024-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"ESG performance and investment expansion: Evidence from Chinese listed firms\",\"authors\":\"\",\"doi\":\"10.1016/j.frl.2024.106072\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Using the listed company datasets from 2010 – 2022, this paper explores how environment, society, and governance (ESG) performance affects enterprises’ investment expansion. By employing a series of forefront empirical methods, our study finds that enterprises with better ESG performance have higher propensity of investment expansion. The conclusion shows robustness when considering the endogeneity problem and in robustness tests. Additionally, we explore the dynamics of ESG's effects on investment expansion and the impacts from different pillars. Finally, we discuss the mechanism from the perspective of financing sources. This study provides insights for promoting the structural transformation of China's economy.</p></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":7.4000,\"publicationDate\":\"2024-09-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612324011024\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612324011024","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
ESG performance and investment expansion: Evidence from Chinese listed firms
Using the listed company datasets from 2010 – 2022, this paper explores how environment, society, and governance (ESG) performance affects enterprises’ investment expansion. By employing a series of forefront empirical methods, our study finds that enterprises with better ESG performance have higher propensity of investment expansion. The conclusion shows robustness when considering the endogeneity problem and in robustness tests. Additionally, we explore the dynamics of ESG's effects on investment expansion and the impacts from different pillars. Finally, we discuss the mechanism from the perspective of financing sources. This study provides insights for promoting the structural transformation of China's economy.
期刊介绍:
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