儒家文化会抑制ESG脱钩吗？来自中国的证据

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-09-08 DOI:10.1016/j.iref.2025.104605

Peng Wan , Yu Yang , Xiangyu Chen

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引用次数: 0

摘要

本文实证考察了儒家文化作为一种非正式制度在企业环境、社会和治理（ESG）脱钩中的作用。以2009 - 2023年中国a股上市公司为样本，我们发现儒家文化显著抑制了ESG脱钩现象。进一步分析发现，儒家文化可以通过抑制管理层过度自信和促进管理层诚信来缓解ESG脱钩。调节效应分析表明，当企业面临较弱的外部监督时，儒家文化对ESG脱钩的抑制作用更为显著。本研究表明，儒家文化作为中国社会中影响最广泛、最深刻的传统文化，是ESG去耦的重要治理力量，从而拓宽了ESG去耦的文献。

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Does confucian culture restrain ESG decoupling? Evidence from China

This paper empirically examines the role of Confucian culture as an informal institution on firms’ environmental, social, and governance (ESG) decoupling. Using a sample of Chinese A-share listed companies from 2009 to 2023, we find that Confucian culture significantly inhibits the phenomenon of ESG decoupling. Further analysis reveals that Confucian culture can mitigate ESG decoupling by restraining management overconfidence and promoting managerial integrity. Moderating effect analysis reveals that Confucian culture exerts a more pronounced inhibitory effect on ESG decoupling when companies face weaker external supervision. This study demonstrates that Confucian culture, as the most widely and profoundly influential traditional culture in Chinese society, is an important governing force of ESG decoupling, thereby broadening the literature on ESG decoupling.

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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.