ESG reactions to fintech: The role of cross-border capital flows

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-02-24 DOI:10.1016/j.ribaf.2025.102834

Xukang Liu , Chao-Qun Ma , Yi-Shuai Ren

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引用次数: 0

Abstract

The use of scientific and technological means to promote the development of green and low-carbon financial products and services is conducive to the green transformation and low-carbon sustainable development of the real economy. This study investigates the impact of Fintech on the ESG of Chinese A-share listed firms from 2015 to 2022. The findings suggest that FinTech can significantly enhance firms' ESG performance. Meanwhile, the conclusions remain robust after considering regional industry and firm characteristics, adopting GMM model to account for potential endogeneity. Moreover, cross-border capital flows strengthen the positive relationship between fintech and ESG performance. Further, the main mechanisms through which FinTech affects firms' ESG performance are R&D innovation, attention by research reports, and fund ownership. Finally, our findings provide strong evidence for the positive impact of FinTech on corporate ESG, confirm the importance of cross-border capital flows, and provide more confidence and justification to better promote FinTech development in cross-border innovation environments.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance