{"title":"生态风险与企业可持续性:考察环境、社会和治理绩效、风险管理和生产力","authors":"","doi":"10.1016/j.irfa.2024.103551","DOIUrl":null,"url":null,"abstract":"<div><p>Environmental, social, and governance (ESG) performance is an essential indicator of sustainable corporate behaviour that balances short-term gains with long-term societal growth and ecological preservation. We scrutinise the influence of ESG performance on corporate risk-taking and the resulting impacts on firm productivity. Using data from Chinese listed firms from 2009 to 2020, our analysis indicates a significant negative relationship between corporate ESG performance and risk-taking, with a resultant increase in total factor productivity. Regional green innovation and environmental regulatory frameworks significantly augment the effects of ESG performance on risk management. The results extend the understanding of the intricate role of ESG commitments in risk management, and offer constructive insights for corporate decision-making and policy development aimed at confronting the environmental challenges of the 21st century.</p></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":null,"pages":null},"PeriodicalIF":7.5000,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Ecological risk and corporate sustainability: Examining ESG performance, risk management, and productivity\",\"authors\":\"\",\"doi\":\"10.1016/j.irfa.2024.103551\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Environmental, social, and governance (ESG) performance is an essential indicator of sustainable corporate behaviour that balances short-term gains with long-term societal growth and ecological preservation. We scrutinise the influence of ESG performance on corporate risk-taking and the resulting impacts on firm productivity. Using data from Chinese listed firms from 2009 to 2020, our analysis indicates a significant negative relationship between corporate ESG performance and risk-taking, with a resultant increase in total factor productivity. Regional green innovation and environmental regulatory frameworks significantly augment the effects of ESG performance on risk management. The results extend the understanding of the intricate role of ESG commitments in risk management, and offer constructive insights for corporate decision-making and policy development aimed at confronting the environmental challenges of the 21st century.</p></div>\",\"PeriodicalId\":48226,\"journal\":{\"name\":\"International Review of Financial Analysis\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":7.5000,\"publicationDate\":\"2024-09-12\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Financial Analysis\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1057521924004836\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521924004836","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Ecological risk and corporate sustainability: Examining ESG performance, risk management, and productivity
Environmental, social, and governance (ESG) performance is an essential indicator of sustainable corporate behaviour that balances short-term gains with long-term societal growth and ecological preservation. We scrutinise the influence of ESG performance on corporate risk-taking and the resulting impacts on firm productivity. Using data from Chinese listed firms from 2009 to 2020, our analysis indicates a significant negative relationship between corporate ESG performance and risk-taking, with a resultant increase in total factor productivity. Regional green innovation and environmental regulatory frameworks significantly augment the effects of ESG performance on risk management. The results extend the understanding of the intricate role of ESG commitments in risk management, and offer constructive insights for corporate decision-making and policy development aimed at confronting the environmental challenges of the 21st century.
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.