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Capital Market Opening and ESG Performance

Author

Listed:
  • Peidong Deng
  • Jun Wen
  • Wei He
  • Yin-E Chen
  • Yun-Peng Wang

Abstract

This research uses a quasi-natural experiment of the Shanghai-Hong Kong Stock Connect trading system and takes 2011–2019 A-share listed companies as the sample to construct a DID model that empirically proves the improvement effect of capital market opening on corporate ESG performance through external monitoring mechanisms. This effect is also heterogeneous due to firm characteristics. This study presents the Shanghai-Hong Kong Stock Connect trading system as a breakthrough, reveals the mechanism of capital market opening on ESG, and provides new empirical evidence for the study of micro-firm behavior.

Suggested Citation

  • Peidong Deng & Jun Wen & Wei He & Yin-E Chen & Yun-Peng Wang, 2023. "Capital Market Opening and ESG Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(13), pages 3866-3876, October.
    • Handle: RePEc:mes:emfitr:v:59:y:2023:i:13:p:3866-3876
    DOI: 10.1080/1540496X.2022.2094761
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    Cited by:

    1. Zhang, Hua & Zhang, Huaqing & Tian, Li & Yuan, Shengli & Tu, Yongqian, 2024. "ESG performance and litigation risk," Finance Research Letters, Elsevier, vol. 63(C).
    2. Wei He & Pingping Luo & Qianxiu Lyu & Jian Hu, 2024. "How Do the Home Country Regulations Promote the Responsibility for Overseas Farmland Investment?," Land, MDPI, vol. 13(7), pages 1-18, July.
    3. Pan-Ting Song & Batsuuri Oyunbazar & Tae-Won Kang, 2024. "The Impact of Agricultural Food Retailers’ ESG Activities on Purchase Intention: The Mediating Effect of Consumer ESG Perception," Sustainability, MDPI, vol. 16(19), pages 1-16, September.
    4. Zhang, Yanan & Zhang, Xiaoyu, 2024. "Top management team functional diversity and ESG performance," Finance Research Letters, Elsevier, vol. 63(C).

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