ESG和管理者诚信：来自中国的证据

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-05-12 DOI:10.1016/j.iref.2025.104133

Wendai Lv, Qiuchi Meng, Zhixia Gan, Shilu Sun

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引用次数: 0

摘要

本文探讨了管理诚信在决定环境、社会和治理（ESG）披露质量中的作用。我们首先使用文本分析和机器学习技术，从年度财务报表的管理讨论和分析（MD& a）部分得出管理完整性的衡量标准。然后，我们进行基线回归和一系列稳健性测试。我们的实证研究结果显示，管理诚信与ESG得分之间存在正相关关系，尤其是在环境和社会层面。本研究强调了非财务信息在投资者评估中的重要性，并强调了管理诚信在有效实施ESG战略中的关键作用。

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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ESG and Manager integrity: Evidence from China

This paper investigates the role of management integrity in determining the quality of Environmental, Social, and Governance (ESG) disclosures. We first derive a measure of management integrity from the Management Discussion and Analysis (MD&A) section of annual financial statements using textual analysis and machine learning techniques. We then conduct baseline regressions and a series of robustness tests. Our empirical findings reveal a positive relationship between management integrity and ESG scores, particularly in the environmental and social dimensions. This research emphasizes the importance of non-financial information in investor assessments and highlights the critical role of management integrity in the effective implementation of ESG strategies.

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来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.