Research Article
ESG Performance and Corporate Risk under Different Dimensions ——An Empirical Study Based on A-share Listed Companies
@INPROCEEDINGS{10.4108/eai.24-5-2024.2350185, author={Xupeng Wang and Liang Liu and Ling Yang}, title={ESG Performance and Corporate Risk under Different Dimensions ------An Empirical Study Based on A-share Listed Companies}, proceedings={Proceedings of the 3rd International Conference on Mathematical Statistics and Economic Analysis, MSEA 2024, May 24--26, 2024, Jinan, China}, publisher={EAI}, proceedings_a={MSEA}, year={2024}, month={10}, keywords={esg performance enterprise risk information transparency agency cost}, doi={10.4108/eai.24-5-2024.2350185} }- Xupeng Wang
Liang Liu
Ling Yang
Year: 2024
ESG Performance and Corporate Risk under Different Dimensions ——An Empirical Study Based on A-share Listed Companies
MSEA
EAI
DOI: 10.4108/eai.24-5-2024.2350185
Abstract
The study empirically examines the impact of corporate ESG performance on corporate risk based on 4,829 listed companies in A-shares from 2009 to 2022. The results of the study show that enhancing corporate ESG performance can significantly reduce corporate risk. Heterogeneity analysis shows that compared with state-owned enterprises, non-state-owned enterprises' ESG performance has a more significant effect on corporate risk reduction. Further analysis reveals that the risk reduction effect of ESG mainly originates from the corporate governance dimension, the risk reduction effect of ESG mainly originates from corporate governance G, and the reduction effect of social responsibility S and environmental responsibility E on corporate risk is slightly lower than the former.