ESG新闻对中国股市的影响

IF 4.5 3区管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE

Journal of Global Information Management Pub Date : 2022-01-01 DOI:10.4018/jgim.313916

Xiaoqing Xu, Yan Chen, Jingmei Zhao, Jun Wang

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引用次数: 2

摘要

企业环境、社会和治理(ESG)绩效与企业价值的关系日益受到关注。然而，最近关于企业ESG绩效评估的文献存在潜在的数据来源偏差、覆盖不完整以及机构之间的不确定性。新闻的客观性、及时性和广度使媒体能够提供一个关于ESG的良好视角。本研究考察了与ESG相关的新闻对股票市场的影响，以证实新闻是ESG绩效评估的有益补充。结果表明:1)与ESG无关的新闻相比，ESG新闻对股市的影响更大、更显著。2)在ESG新闻的三个领域中，环境新闻的影响力更大、更显著，且因话题而异。3)环境新闻对不同地区上市公司的影响不同。本研究为从ESG新闻的使用角度全面客观地评估企业ESG绩效和管理企业媒体形象提供了新的思路。

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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The Effect of ESG News on the Chinese Stock Market

The relation between corporate environmental, social, and governance (ESG) performance and firm value has received increasing attention. However, the recent literature on corporate ESG performance evaluation suffers from potentially biased data sources, incomplete coverage, and uncertainty among agencies. The objectivity, timeliness, and breadth of news allow the media to provide a good perspective on ESG instead. This study investigated the effects of ESG-related news on the stock market to confirm that news is a helpful complement to the assessment of ESG performance. The results show that 1) ESG news has a greater and more significant impact on the stock market than news unrelated to ESG. 2) Of the three fields of ESG news, environmental news has a greater and more significant impact, which varies widely by topic. 3) Environmental news has different impacts on listed firms in different regions. This study provides new ideas for a complete and objective assessment of corporate ESG performance and the management of a corporate media image from the use of ESG news.

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来源期刊

Journal of Global Information Management INFORMATION SCIENCE & LIBRARY SCIENCE-

CiteScore

5.80

自引率

14.90%

发文量

118

期刊介绍： Authors are encouraged to submit manuscripts that are consistent to the following submission themes: (a) Cross-National Studies. These need not be cross-culture per se. These studies lead to understanding of IT as it leaves one nation and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one nation transfer. (b) Cross-Cultural Studies. These need not be cross-nation. Cultures could be across regions that share a similar culture. They can also be within nations. These studies lead to understanding of IT as it leaves one culture and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one culture transfer.