The impact of common ownership between banks and firms on corporate ESG performance: Evidence from China

IF 4.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2025-08-05 DOI:10.1016/j.ememar.2025.101345

Zhiwen Wang

引用次数: 0

Abstract

This paper examines the impact and mechanisms of common ownership between banks and firms on corporate ESG performance, by using a dataset derived from the lending and equity relationship between Chinese A-share listed companies and banks from 2009 to 2023. This common ownership significantly enhances corporate ESG performance through a financing channel that increases loan size and eases financing constraints, and an information channel that reduces information asymmetry and increases external regulation. The positive effect is particularly evident among firms with lower media attention and heavily polluting industries.

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银企共同持股对企业ESG绩效的影响：来自中国的证据

本文利用2009年至2023年中国a股上市公司与银行贷款和股权关系数据集，考察了银企共同持股对企业ESG绩效的影响及其机制。这种共同所有权通过增加贷款规模和缓解融资约束的融资渠道，以及减少信息不对称和增加外部监管的信息渠道，显著提高了企业ESG绩效。这种积极影响在媒体关注度较低的公司和污染严重的行业中尤为明显。

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

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.