The Impact of ESG Performance on Organizational Resilience: Evidence From China

IF 9.1 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2025-07-09 DOI:10.1002/csr.70061

Wenbing Luo, Yuxin Yu, Xiaotian Cao, Mingjun Deng

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Abstract

In the context of VUCA (volatile, uncertain, complex, ambiguous), organizational resilience has become increasingly important for the long-term development of enterprises. Using data from Chinese A-share listed enterprises between 2009 and 2022, this study examines the impact of ESG performance on organizational resilience and explores the underlying mechanisms. The results show that ESG performance has a significant positive impact on organizational resilience, and ESG primarily transmits its impact by improving investment efficiency and analyst attention, and reducing the cost of debt financing. Further analysis indicates that enterprise digitization strengthens the connection between ESG and organizational resilience. The promoting effect of ESG is more pronounced in non-Western regions of China and in enterprises not audited by the Big Four. The existing literature exhibits certain research gaps in exploring the non-economic effects of ESG performance. This study fills these gaps by expanding the influence mechanisms based on perspectives such as “resource-relationship-governance”. Our conclusions provide empirical evidence for enhancing organizational resilience and promoting the sustainable development of enterprises and society.

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ESG绩效对组织弹性的影响：来自中国的证据

在VUCA （volatile, uncertainty, complex, ambiguous）的背景下，组织弹性对于企业的长远发展变得越来越重要。本文利用2009 - 2022年中国a股上市企业的数据，考察了ESG绩效对企业组织弹性的影响，并探讨了影响机制。结果表明，ESG绩效对组织弹性具有显著的正向影响，ESG的影响主要通过提高投资效率和分析师关注度、降低债务融资成本来传递。进一步分析表明，企业数字化强化了ESG与组织弹性之间的联系。ESG的促进作用在中国非西部地区和未被“四大”审计的企业中更为明显。现有文献在探讨ESG绩效的非经济效应方面存在一定的研究空白。本研究从“资源-关系-治理”等视角拓展了影响机制，填补了这些空白。研究结果为增强组织弹性，促进企业和社会的可持续发展提供了实证依据。

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

Corporate Social Responsibility and Environmental Management Multiple-

CiteScore

17.20

自引率

16.30%

发文量

189

期刊介绍： Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas. The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.