Corporate Financialization, ESG Performance and Sustainability Development: Evidence from Chinese-Listed Companies
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Rehman, Shafique Ur & Kraus, Sascha & Shah, Syed Asim & Khanin, Dmitry & Mahto, Raj V., 2021. "Analyzing the relationship between green innovation and environmental performance in large manufacturing firms," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
- Thomas I. Palley, 2013.
"Financialization: What It Is and Why It Matters,"
Palgrave Macmillan Books, in: Financialization, chapter 2, pages 17-40,
Palgrave Macmillan.
- Thomas I. Palley, 2007. "Financialization: What It Is and Why It Matters," Economics Working Paper Archive wp_525, Levy Economics Institute.
- Thomas I. Palley, 2008. "Financialization: What it is and Why it Matters," IMK Working Paper 04-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Thomas I. Palley, 2007. "Financialization: What It Is and Why It Matters," Working Papers wp153, Political Economy Research Institute, University of Massachusetts at Amherst.
- James Crotty, 2003.
"The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era,"
Review of Radical Political Economics, Union for Radical Political Economics, vol. 35(3), pages 271-279, September.
- James Crotty, 2005. "The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era," Research Briefs rb2003-5, Political Economy Research Institute, University of Massachusetts at Amherst.
- Gleadle, Pauline & Parris, Stuart & Shipman, Alan & Simonetti, Roberto, 2014. "Restructuring and innovation in pharmaceuticals and biotechs: The impact of financialisation," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(1), pages 67-77.
- Li, Chao & Wu, Mian & Chen, Xi & Huang, Wenli, 2022. "Environmental, social and governance performance, corporate transparency, and credit rating: Some evidence from Chinese A-share listed companies," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
- Ozgür Orhangazi, 2008.
"Financialisation and capital accumulation in the non-financial corporate sector:,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(6), pages 863-886, November.
- Özgür Orhangazi, 2007. "Financialization and Capital Accumulation in the Non-Financial Corporate Sector," Working Papers wp149, Political Economy Research Institute, University of Massachusetts at Amherst.
- Shleifer, Andrei & Vishny, Robert W, 1997.
"A Survey of Corporate Governance,"
Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Shleifer, Andrei & Vishny, Robert W., 1997. "A Survey of Corporate Governance," Scholarly Articles 30728046, Harvard University Department of Economics.
- Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
- Demir, FIrat, 2009. "Financial liberalization, private investment and portfolio choice: Financialization of real sectors in emerging markets," Journal of Development Economics, Elsevier, vol. 88(2), pages 314-324, March.
- Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008.
"Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005),"
European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
- Thierry Theurillat & José Corpataux & Olivier Crevoisier, 2010. "Property Sector Financialization: The Case of Swiss Pension Funds (1992–2005)," GRET Publications and Working Papers 01-10, GRET Group of Research in Territorial Economy, University of Neuchâtel.
- Galindo, Arturo & Schiantarelli, Fabio & Weiss, Andrew, 2007.
"Does financial liberalization improve the allocation of investment?: Micro-evidence from developing countries,"
Journal of Development Economics, Elsevier, vol. 83(2), pages 562-587, July.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2001. "Does Financial Liberalization Improve the Allocation of Investment? Micro Evidence from Developing Countries," Boston College Working Papers in Economics 503, Boston College Department of Economics, revised 29 Oct 2003.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2002. "Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries," Research Department Publications 4295, Inter-American Development Bank, Research Department.
- Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2005. "Does Financial Liberalization Improve the Allocation of Investment? Micro Evidence from Developing Countries," Boston College Working Papers in Economics 625, Boston College Department of Economics.
- Galindo, Arturo & Schiantarelli, Fabio & Weiss, Andrew, 2002. "Does Financial Liberalization Improve the Allocation of Investment?: Micro Evidence from Developing Countries," IDB Publications (Working Papers) 1434, Inter-American Development Bank.
- Jia, Zhijie, 2023. "The hidden benefit: Emission trading scheme and business performance of downstream enterprises," Energy Economics, Elsevier, vol. 117(C).
- Derek Bosworth & Mark Rogers, 2001. "Market Value, R&D and Intellectual Property: An Empirical Analysis of Large Australian Firms," The Economic Record, The Economic Society of Australia, vol. 77(239), pages 323-337, December.
- Ki‐Hoon Lee & Ji‐Whan Kim, 2011. "Integrating Suppliers into Green Product Innovation Development: an Empirical Case Study in the Semiconductor Industry," Business Strategy and the Environment, Wiley Blackwell, vol. 20(8), pages 527-538, December.
- Chang, Eric C. & Wong, Sonia M.L., 2009. "Governance with multiple objectives: Evidence from top executive turnover in China," Journal of Corporate Finance, Elsevier, vol. 15(2), pages 230-244, April.
- Sebastiano Cupertino & Costanza Consolandi & Alessandro Vercelli, 2019. "Corporate Social Performance, Financialization, and Real Investment in US Manufacturing Firms," Sustainability, MDPI, vol. 11(7), pages 1-15, March.
- Han, Seungjin & Qiu, Jiaping, 2007. "Corporate precautionary cash holdings," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 43-57, March.
- Wang, Kai-Hua & Umar, Muhammad & Akram, Rabia & Caglar, Ersin, 2021. "Is technological innovation making world "Greener"? An evidence from changing growth story of China," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
- Lin, Yongjia & Fu, Xiaoqing & Fu, Xiaolan, 2021. "Varieties in state capitalism and corporate innovation: Evidence from an emerging economy," Journal of Corporate Finance, Elsevier, vol. 67(C).
- Najah Attig & Narjess Boubakri & Sadok El Ghoul & Omrane Guedhami, 2016. "Firm Internationalization and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 134(2), pages 171-197, March.
- Gerald Epstein, 2018. "On the Social Efficiency of Finance," Development and Change, International Institute of Social Studies, vol. 49(2), pages 330-352, March.
- Samuel Drempetic & Christian Klein & Bernhard Zwergel, 2020. "The Influence of Firm Size on the ESG Score: Corporate Sustainability Ratings Under Review," Journal of Business Ethics, Springer, vol. 167(2), pages 333-360, November.
- Jia, Zhijie & Wen, Shiyan & Lin, Boqiang, 2021. "The effects and reacts of COVID-19 pandemic and international oil price on energy, economy, and environment in China," Applied Energy, Elsevier, vol. 302(C).
- repec:bla:ecorec:v:77:y:2001:i:239:p:323-37 is not listed on IDEAS
- Meiling Wang & Silu Pang & Ikram Hmani & Ilham Hmani & Cunfang Li & Zhengxia He, 2021. "Towards sustainable development: How does technological innovation drive the increase in green total factor productivity?," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(1), pages 217-227, January.
- Li, Guangpei & Wang, Xiaoyu & Su, Shibin & Su, Yuan, 2019. "How green technological innovation ability influences enterprise competitiveness," Technology in Society, Elsevier, vol. 59(C).
- Eiadat, Yousef & Kelly, Aidan & Roche, Frank & Eyadat, Hussein, 2008. "Green and competitive? An empirical test of the mediating role of environmental innovation strategy," Journal of World Business, Elsevier, vol. 43(2), pages 131-145, March.
- Engelbert Stockhammer, 2004.
"Financialisation and the slowdown of accumulation,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(5), pages 719-741, September.
- Engelbert Stockhammer, 2000. "Financialization and the Slowdown of Accumulation," Working Papers geewp14, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
- repec:nct:journl:v:18:y:2010:i:2:p:189-212 is not listed on IDEAS
- Du, Julan & Li, Chang & Wang, Yongqin, 2017. "A comparative study of shadow banking activities of non-financial firms in transition economies," China Economic Review, Elsevier, vol. 46(S), pages 35-49.
- Camélia Radu & Nadia Smaili, 2021. "Corporate performance patterns of Canadian listed firms: Balancing financial and corporate social responsibility outcomes," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 3344-3359, November.
- Breuer, Wolfgang & Müller, Torbjörn & Rosenbach, David & Salzmann, Astrid, 2018. "Corporate social responsibility, investor protection, and cost of equity: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 34-55.
- Baumann, Manuel & Domnik, Tobias & Haase, Martina & Wulf, Christina & Emmerich, Philip & Rösch, Christine & Zapp, Petra & Naegler, Tobias & Weil, Marcel, 2021. "Comparative patent analysis for the identification of global research trends for the case of battery storage, hydrogen and bioenergy," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
- Sunanda Sen & Zico Dasgupta, 2018. "Financialisation and corporate investments: the Indian case," Review of Keynesian Economics, Edward Elgar Publishing, vol. 6(1), pages 96-113, January.
- Dennis E. Smallwood & John Conlisk, 1979. "Product Quality in Markets Where Consumers are Imperfectly Informed," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 93(1), pages 1-23.
- Thierry Theurillat & José Corpataux & Olivier Crevoisier, "undated". "Property Sector Financialization: The Case of Swiss Pension Funds (1992–2005)," GRET Journal Papers 02-10, GRET Group of Research in Territorial Economy, University of Neuchâtel.
- Shuxia Zhang & Xiangyang Yin & Liping Xu & Ziyu Li & Deyue Kong, 2022. "Effect of Environmental, Social, and Governance Performance on Corporate Financialization: Evidence from China," Sustainability, MDPI, vol. 14(17), pages 1-20, August.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Dong Chen & Shi Chen, 2024. "Patent Protection Policy and Firms’ Green Technology Innovation: Mediating Roles of Open Innovation and Human Capital," Sustainability, MDPI, vol. 16(5), pages 1-17, March.
- Taejin Lim & Donggi Kim & Keuntae Cho, 2024. "CTO Characteristics and ESG Performance of Corporation: Evidence from Korea," Sustainability, MDPI, vol. 16(17), pages 1-21, September.
- Ting Qian & Caoyuan Yang, 2023. "State-Owned Equity Participation and Corporations’ ESG Performance in China: The Mediating Role of Top Management Incentives," Sustainability, MDPI, vol. 15(15), pages 1-21, July.
- Shuanglian Chen & Benhuan Nie & Xiaohua Huang, 2024. "Nonlinear Impact of Corporate Financialization on Sustainable Development Ability: Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(8), pages 1-23, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Zhenghui Li & Yan Wang & Yong Tan & Zimei Huang, 2020. "Does Corporate Financialization Affect Corporate Environmental Responsibility? An Empirical Study of China," Sustainability, MDPI, vol. 12(9), pages 1-19, May.
- Ke Guo & Xuemeng Guo & Jun Zhang, 2023. "Financial asset allocation duality and enterprise upgrading: empirical evidence from the Chinese A-share market," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-11, December.
- Ren, Xiaoyi & Shao, Huan, 2022. "Non-state shareholder governance and shadow banking business: Evidence from Chinese state-owned manufacturing enterprises," Research in International Business and Finance, Elsevier, vol. 60(C).
- Zhang, Chengsi & Zheng, Ning, 2020. "Monetary policy and financial investments of nonfinancial firms: New evidence from China," China Economic Review, Elsevier, vol. 60(C).
- Hanying Qi, 2019. "A New Literature Review on Financialization," Journal of Accounting, Business and Finance Research, Scientific Publishing Institute, vol. 7(2), pages 40-50.
- Rita Vieira & Graça Azevedo & Jonas Oliveira, 2024. "Systematic review in financialization politics: the role of corporate governance and managerial compensation," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 21(3), pages 376-405, September.
- Yingying Zhou & Yuehan Du & Fengyi Lei & Ziru Su & Yifei Feng & Jie Li, 2021. "Influence of Financialization of Heavily Polluting Enterprises on Technological Innovation under the Background of Environmental Pollution Control," IJERPH, MDPI, vol. 18(24), pages 1-21, December.
- Annina Kaltenbrunner & Juan Pablo Painceira, 2016. "International and Domestic Financialisation in Middle Income Countries; The Brazilian Experience," Working papers wpaper146, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
- Qi, Yong & Yang, Yudi & Yang, Shuo & Lyu, Simeng, 2021. "Does government funding promote or inhibit the financialization of manufacturing enterprises? Evidence from listed Chinese enterprises," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
- Yang, Jizhe & Jiang, Tingfeng & Wen, Xingchun & Dai, Lu, 2024. "Time-varying and spillover effects of the macroeconomy on nonfinancial corporate financialization: Evidence from China," Journal of Asian Economics, Elsevier, vol. 90(C).
- Georgios Argitis & Stella Michopoulou, 2011.
"Are Full Employment and Social Cohesion Possible Under Financialization?,"
Forum for Social Economics, Taylor & Francis Journals, vol. 40(2), pages 139-155, January.
- Georgios Argitis & Stella Michopoulou, 2011. "Are Full Employment and Social Cohesion Possible Under Financialization?," Forum for Social Economics, Springer;The Association for Social Economics, vol. 40(2), pages 139-155, July.
- Karsten Kohler & Alexander Guschanski & Engelbert Stockhammer, 2019.
"The impact of financialisation on the wage share: a theoretical clarification and empirical test,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 43(4), pages 937-974.
- Karsten Kohler & Alexander Guschanski & Engelbert Stockhammer, 2018. "The impact of financialisation on the wage share: a theoretical clarification and empirical test," Working Papers PKWP1802, Post Keynesian Economics Society (PKES).
- Kohler, Karsten & Guschanski, Alexander & Stockhammer, Engelbert, 2019. "The impact of financialisation on the wage share: A theoretical clarification and empirical test," Greenwich Papers in Political Economy 23472, University of Greenwich, Greenwich Political Economy Research Centre.
- Kohler, Karsten & Guschanski, Alexander & Stockhammer, Engelbert, 2018. "The impact of financialisation on the wage share. A theoretical clarification and empirical test," Economics Discussion Papers 2018-1, School of Economics, Kingston University London.
- Huang, Bingbing & Cui, Yuying & Chan, Kam C., 2022. "Firm-level financialization: Contributing factors, sources, and economic consequences," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1153-1162.
- Shromona Ganguly, 2021. "Financialization of the Real Economy: New Empirical Evidence from the Non-financial Firms in India Using Conditional Logistic Model," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 19(3), pages 493-523, September.
- Zhang, Chengsi & Zheng, Ning, 2020. "The financial investment decision of non-financial firms in China," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).
- Giampaolo Gabbi & Elisa Ticci, 2014. "Implications of financialisation for sustainability," Working papers wpaper47, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
- Jiang, Fuxiu & Shen, Yanyan & Cai, Xinni, 2022. "Can multiple blockholders restrain corporate financialization?," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
- Feng, Yumei & Yu, Qiang & Nan, Xingheng & Cai, Yongbin, 2022. "Can employee stock ownership plans reduce corporate financialization? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 140-151.
- Hasan BAKIR & Görkem BAHTİYAR, 2017. "Great Recession, Financialization and Marxian Political Economy," Sosyoekonomi Journal, Sosyoekonomi Society, issue 25(33).
- Köhler, Karsten & Guschanski, Alexander & Stockhammer, Engelbert, 2015. "How does financialisation affect functional income distribution? A theoretical clarification and empirical assessment," Economics Discussion Papers 2015-5, School of Economics, Kingston University London.
More about this item
Keywords
corporate financialization; ESG performance; green technology innovation;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:4:p:2978-:d:1060115. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.