Capital Market Opening and ESG Performance

Peidong Deng; Jun Wen; Wei He; Yin E. Chen; Yun Peng Wang

doi:10.1080/1540496X.2022.2094761

Capital Market Opening and ESG Performance

Peidong Deng
, Jun Wen
, Wei He
, Yin E. Chen
, Yun Peng Wang

经济与金融学院

Xi'an Jiaotong University
Changsha University of Science and Technology
Xi'an University of Finance and Economics

科研成果: 期刊稿件 › 文章 › 同行评审

46 引用（Scopus）

摘要

This research uses a quasi-natural experiment of the Shanghai-Hong Kong Stock Connect trading system and takes 2011–2019 A-share listed companies as the sample to construct a DID model that empirically proves the improvement effect of capital market opening on corporate ESG performance through external monitoring mechanisms. This effect is also heterogeneous due to firm characteristics. This study presents the Shanghai-Hong Kong Stock Connect trading system as a breakthrough, reveals the mechanism of capital market opening on ESG, and provides new empirical evidence for the study of micro-firm behavior.

源语言	英语
页（从-至）	3866-3876
页数	11
期刊	Emerging Markets Finance and Trade
卷	59
期	13
DOI	https://doi.org/10.1080/1540496X.2022.2094761
出版状态	已出版 - 2023

访问文件

10.1080/1540496X.2022.2094761

其它文件与链接

链接到 Scopus 的出版物

引用此

@article{f38524d7c2f045c38ffda7569cfeff33,

title = "Capital Market Opening and ESG Performance",

abstract = "This research uses a quasi-natural experiment of the Shanghai-Hong Kong Stock Connect trading system and takes 2011{\textendash}2019 A-share listed companies as the sample to construct a DID model that empirically proves the improvement effect of capital market opening on corporate ESG performance through external monitoring mechanisms. This effect is also heterogeneous due to firm characteristics. This study presents the Shanghai-Hong Kong Stock Connect trading system as a breakthrough, reveals the mechanism of capital market opening on ESG, and provides new empirical evidence for the study of micro-firm behavior.",

keywords = "Capital market opening, DID model, ESG, intermediary effect",

author = "Peidong Deng and Jun Wen and Wei He and Chen, \{Yin E.\} and Wang, \{Yun Peng\}",

note = "Publisher Copyright: {\textcopyright} 2022 Taylor \& Francis Group, LLC.",

year = "2023",

doi = "10.1080/1540496X.2022.2094761",

language = "英语",

volume = "59",

pages = "3866--3876",

journal = "Emerging Markets Finance and Trade",

issn = "1540-496X",

publisher = "Routledge",

number = "13",

}

TY - JOUR

T1 - Capital Market Opening and ESG Performance

AU - Deng, Peidong

AU - Wen, Jun

AU - He, Wei

AU - Chen, Yin E.

AU - Wang, Yun Peng

PY - 2023

Y1 - 2023

N2 - This research uses a quasi-natural experiment of the Shanghai-Hong Kong Stock Connect trading system and takes 2011–2019 A-share listed companies as the sample to construct a DID model that empirically proves the improvement effect of capital market opening on corporate ESG performance through external monitoring mechanisms. This effect is also heterogeneous due to firm characteristics. This study presents the Shanghai-Hong Kong Stock Connect trading system as a breakthrough, reveals the mechanism of capital market opening on ESG, and provides new empirical evidence for the study of micro-firm behavior.

AB - This research uses a quasi-natural experiment of the Shanghai-Hong Kong Stock Connect trading system and takes 2011–2019 A-share listed companies as the sample to construct a DID model that empirically proves the improvement effect of capital market opening on corporate ESG performance through external monitoring mechanisms. This effect is also heterogeneous due to firm characteristics. This study presents the Shanghai-Hong Kong Stock Connect trading system as a breakthrough, reveals the mechanism of capital market opening on ESG, and provides new empirical evidence for the study of micro-firm behavior.

KW - Capital market opening

KW - DID model

KW - ESG

KW - intermediary effect

UR - https://www.scopus.com/pages/publications/85133975022

U2 - 10.1080/1540496X.2022.2094761

DO - 10.1080/1540496X.2022.2094761

M3 - 文章

AN - SCOPUS:85133975022

SN - 1540-496X

VL - 59

SP - 3866

EP - 3876

JO - Emerging Markets Finance and Trade

JF - Emerging Markets Finance and Trade

IS - 13

ER -

Capital Market Opening and ESG Performance

摘要

访问文件

其它文件与链接

学术指纹

引用此