Assessing the impact of government environmental attention on corporate ESG performance: Empirical insights from A-share listed firms in China

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-03-25 DOI:10.1016/j.irfa.2025.104164

Xiaoling Ouyang , Xin Yao , Ru Fan

引用次数: 0

Abstract

This study assesses the impact of Governmental Environmental Attention (GEA) on the ESG performance of A-share listed firms in China from 2011 to 2020. Utilizing Python for textual analysis of government reports, we quantified local governments' environmental attention and its influence on ESG. Findings indicate that increased governmental attention significantly boosts ESG performance, especially in privately-owned and politically-connected firms, due to higher regional environmental investments and stronger internal and media scrutiny. The impact of GEA is further moderated by executives' political connections, with varying effects across different regional and economic contexts. These results underscore the importance of integrating environmental policies in corporate strategies to enhance economic quality and productivity.

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政府环境关注对企业ESG绩效的影响评估：来自中国a股上市公司的实证分析

本文研究了2011 - 2020年政府环境关注对中国a股上市公司ESG绩效的影响。我们利用Python对政府报告进行文本分析，量化了地方政府的环境关注度及其对ESG的影响。研究结果表明，政府关注的增加显著提高了ESG绩效，特别是在私营和有政治关系的公司中，这是由于更高的区域环境投资和更强的内部和媒体审查。高管的政治关系进一步缓和了GEA的影响，在不同的地区和经济背景下产生不同的影响。这些结果强调了将环境政策纳入公司战略以提高经济质量和生产力的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.