{"title":"空间中的可持续金融:银行集聚如何塑造企业ESG绩效","authors":"Weijie Tan, Wanting Sun, Xihui Haviour Chen","doi":"10.1002/csr.70071","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>While prior research has examined the role of the banking sector in corporate ESG transformation, the internal financial mechanisms and external driving forces involved remain underexplored. Drawing on multi-source big data, this study constructs an ESG financial cooperation index for Chinese listed companies and identifies ESG-related news from over 10 million media texts. It investigates the relationship between bank agglomeration and corporate ESG performance. The findings suggest that bank agglomeration enhances corporate ESG outcomes primarily by fostering ESG financial cooperation, with media attention to ESG issues further amplifying this effect. Heterogeneity analysis reveals that the impact is more pronounced among private firms, non-recessionary enterprises, and downstream firms in the supply chain. Additionally, bank entry and exit contribute to reshaping the spatial distribution of credit resources, with bank entry significantly encouraging corporate ESG practices. State-owned bank agglomeration predominantly improves environmental performance, joint-stock banks focus on social responsibility and governance, and foreign banks drive comprehensive ESG development. This paper proposes a novel pathway for sustainable financial cooperation to empower corporate ESG transformation and expands the theoretical perspective by highlighting the role of media ESG attention, offering valuable insights for the transition of emerging economies.</p>\n </div>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6966-6983"},"PeriodicalIF":9.1000,"publicationDate":"2025-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Sustainable Finance in Space: How Bank Agglomeration Shapes Corporate ESG Performance\",\"authors\":\"Weijie Tan, Wanting Sun, Xihui Haviour Chen\",\"doi\":\"10.1002/csr.70071\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div>\\n \\n <p>While prior research has examined the role of the banking sector in corporate ESG transformation, the internal financial mechanisms and external driving forces involved remain underexplored. Drawing on multi-source big data, this study constructs an ESG financial cooperation index for Chinese listed companies and identifies ESG-related news from over 10 million media texts. It investigates the relationship between bank agglomeration and corporate ESG performance. The findings suggest that bank agglomeration enhances corporate ESG outcomes primarily by fostering ESG financial cooperation, with media attention to ESG issues further amplifying this effect. Heterogeneity analysis reveals that the impact is more pronounced among private firms, non-recessionary enterprises, and downstream firms in the supply chain. Additionally, bank entry and exit contribute to reshaping the spatial distribution of credit resources, with bank entry significantly encouraging corporate ESG practices. State-owned bank agglomeration predominantly improves environmental performance, joint-stock banks focus on social responsibility and governance, and foreign banks drive comprehensive ESG development. This paper proposes a novel pathway for sustainable financial cooperation to empower corporate ESG transformation and expands the theoretical perspective by highlighting the role of media ESG attention, offering valuable insights for the transition of emerging economies.</p>\\n </div>\",\"PeriodicalId\":48334,\"journal\":{\"name\":\"Corporate Social Responsibility and Environmental Management\",\"volume\":\"32 5\",\"pages\":\"6966-6983\"},\"PeriodicalIF\":9.1000,\"publicationDate\":\"2025-07-14\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Corporate Social Responsibility and Environmental Management\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1002/csr.70071\",\"RegionNum\":2,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/csr.70071","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Sustainable Finance in Space: How Bank Agglomeration Shapes Corporate ESG Performance
While prior research has examined the role of the banking sector in corporate ESG transformation, the internal financial mechanisms and external driving forces involved remain underexplored. Drawing on multi-source big data, this study constructs an ESG financial cooperation index for Chinese listed companies and identifies ESG-related news from over 10 million media texts. It investigates the relationship between bank agglomeration and corporate ESG performance. The findings suggest that bank agglomeration enhances corporate ESG outcomes primarily by fostering ESG financial cooperation, with media attention to ESG issues further amplifying this effect. Heterogeneity analysis reveals that the impact is more pronounced among private firms, non-recessionary enterprises, and downstream firms in the supply chain. Additionally, bank entry and exit contribute to reshaping the spatial distribution of credit resources, with bank entry significantly encouraging corporate ESG practices. State-owned bank agglomeration predominantly improves environmental performance, joint-stock banks focus on social responsibility and governance, and foreign banks drive comprehensive ESG development. This paper proposes a novel pathway for sustainable financial cooperation to empower corporate ESG transformation and expands the theoretical perspective by highlighting the role of media ESG attention, offering valuable insights for the transition of emerging economies.
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.