Financial agglomeration, financing costs, and corporate ESG performance

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-15 DOI:10.1016/j.frl.2025.107786

De Xiao, Xiaotian Xu

引用次数: 0

Abstract

This study uses 2012–2022 data from non-financial firms in China's A-share market to explore the impact of financial agglomeration and financing costs on ESG performance. Results show that financial agglomeration positively affects ESG, while financing costs have a negative impact. Firm size moderates the relationship between financial agglomeration and ESG, with a significant threshold effect. Additionally, the effects of financial agglomeration and financing costs on ESG vary across different types of firms.

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金融集聚、融资成本与企业ESG绩效

本研究采用2012-2022年中国a股非金融企业的数据，探讨金融集聚和融资成本对企业ESG绩效的影响。结果表明，金融集聚对ESG有正向影响，融资成本对ESG有负向影响。企业规模对金融集聚与ESG的关系具有调节作用，且存在显著的阈值效应。此外，金融集聚和融资成本对ESG的影响在不同类型的企业中存在差异。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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