{"title":"同行企业的ESG绩效如何影响碳减排?","authors":"Pei Wang , Weixian Xue , Zhi Li","doi":"10.1016/j.frl.2025.107711","DOIUrl":null,"url":null,"abstract":"<div><div>This study analyzes the green spillover effects of peer firms' ESG performance on the carbon reduction actions of focal organizations from 2013 to 2023. Empirical data indicates that superior ESG practices among industry peers substantially improve the decarbonization efforts of focal enterprises, principally mediated by diminished financial restrictions and increased public attention. Competitive pressures and the pursuit of legitimacy compel focal firms to implement sustainable practices, especially when peers exhibit genuine ESG commitments. The findings highlight the pivotal influence of peer dynamics and institutional circumstances in expediting business climate shifts.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"83 ","pages":"Article 107711"},"PeriodicalIF":7.4000,"publicationDate":"2025-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How does peer firms' ESG performance affect carbon emission reductions ?\",\"authors\":\"Pei Wang , Weixian Xue , Zhi Li\",\"doi\":\"10.1016/j.frl.2025.107711\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study analyzes the green spillover effects of peer firms' ESG performance on the carbon reduction actions of focal organizations from 2013 to 2023. Empirical data indicates that superior ESG practices among industry peers substantially improve the decarbonization efforts of focal enterprises, principally mediated by diminished financial restrictions and increased public attention. Competitive pressures and the pursuit of legitimacy compel focal firms to implement sustainable practices, especially when peers exhibit genuine ESG commitments. The findings highlight the pivotal influence of peer dynamics and institutional circumstances in expediting business climate shifts.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"83 \",\"pages\":\"Article 107711\"},\"PeriodicalIF\":7.4000,\"publicationDate\":\"2025-06-04\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612325009699\",\"RegionNum\":2,\"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":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325009699","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
How does peer firms' ESG performance affect carbon emission reductions ?
This study analyzes the green spillover effects of peer firms' ESG performance on the carbon reduction actions of focal organizations from 2013 to 2023. Empirical data indicates that superior ESG practices among industry peers substantially improve the decarbonization efforts of focal enterprises, principally mediated by diminished financial restrictions and increased public attention. Competitive pressures and the pursuit of legitimacy compel focal firms to implement sustainable practices, especially when peers exhibit genuine ESG commitments. The findings highlight the pivotal influence of peer dynamics and institutional circumstances in expediting business climate shifts.
期刊介绍:
Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies.
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