“National Team” Shareholding and ESG Performance: The Mediating Role of Financial Constraints

DOI

10.2991/978-94-6463-578-2_15How to use a DOI?

Keywords

“National team” shareholding; ESG performance; Financing constraints; State-owned enterprise; Agency costs

Abstract

This study investigates how “National Team” shareholding affects corporate environmental, social, and governance (ESG) performance, with a focus on the roles of financing constraints as a mediating variable, and agency costs and state-owned enterprise as moderating variables. Using empirical data from Chinese listed companies, the findings reveal that “national team” shareholding significantly enhances ESG performance. Further analysis indicates that this improvement occurs indirectly through the alleviation of financing constraints. Additionally, agency costs negatively moderate this relationship, in other words, when agency costs are high, the positive impact of national team shareholding on ESG performance diminishes. Furthermore, the nature of state-owned enterprises positively moderates this relationship, amplifying the positive effects of national team shareholding on ESG performance, particularly within state-owned enterprises. This study not only contributes to the existing literature on the link between national team shareholding and corporate ESG performance but also offers valuable insights for enterprises and policymakers.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinyue Ge
PY  - 2024
DA  - 2024/12/01
TI  - “National Team” Shareholding and ESG Performance: The Mediating Role of Financial Constraints
BT  - Proceedings of the 2024 International Conference on Artificial Intelligence and Digital Management (ICAIDM 2024)
PB  - Atlantis Press
SP  - 126
EP  - 140
SN  - 1951-6851
UR  - https://doi.org/10.2991/978-94-6463-578-2_15
DO  - 10.2991/978-94-6463-578-2_15
ID  - Ge2024
ER  -