Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29–31, 2024, Wuhan, China

Research Article

ESG Performance and Corporate Risk -- Based on Chinese Listed Companies

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  • @INPROCEEDINGS{10.4108/eai.29-3-2024.2347414,
        author={Xupeng  Wang and Liang  Liu and Yunqi  Jia},
        title={ESG Performance and Corporate Risk -- Based on Chinese Listed Companies},
        proceedings={Proceedings of the 3rd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2024, March 29--31, 2024, Wuhan, China},
        publisher={EAI},
        proceedings_a={ICBBEM},
        year={2024},
        month={6},
        keywords={esg performance enterprise risk information transparency agency cost},
        doi={10.4108/eai.29-3-2024.2347414}
    }
    
  • Xupeng Wang
    Liang Liu
    Yunqi Jia
    Year: 2024
    ESG Performance and Corporate Risk -- Based on Chinese Listed Companies
    ICBBEM
    EAI
    DOI: 10.4108/eai.29-3-2024.2347414
Xupeng Wang1,*, Liang Liu1, Yunqi Jia2
  • 1: State Grid Energy Research Institute Co., LTD
  • 2: State Grid Corporation of China Limited
*Contact email: wangxupeng@sgeri.sgcc.com.cn

Abstract

Based on 4829 A-share listed companies from 2009 to 2022, this study empirically examines the impact of corporate ESG performance on corporate risk. The results show that improving enterprise ESG performance can significantly reduce enterprise risk. Mechanism analysis shows that ESG performance can improve corporate performance, increase corporate information transparency and reduce agency costs, thus reducing corporate risks.