ESG Performance, Product Market Competition, and High-Quality Corporate Development

DOI

10.2991/978-94-6463-570-6_41How to use a DOI?

Keywords

ESG Performance; Total Factor Productivity; Market Competition; Product Market Competition; Market Structure

Abstract

This paper uses cross-industry enterprise-level panel data from 2012-2022 to explore the impact of corporate Environmental, Social, and Governance (ESG) performance on high-quality corporate development under different product market competition. The study uses a fixed-effects model to analyze the direct impact of ESG performance on high-quality corporate development, and introduces product market competition as a moderating variable to assess its impact on the relationship between ESG and Total Factor Productivity (TFP). The study found that good ESG performance significantly improves the high-quality development of the company, and this effect shows significant heterogeneity in different market competition. Specifically, in markets with weak product competition, that is, monopoly or oligopolistic market structures, the positive impact of ESG on TFP is more significant. This study reveals the complex relationship between ESG, product market competition, and high-quality corporate development, providing policy implications and practical guidance for corporations on how to enhance their strength in different market environments by improving ESG performance.

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  - Chen Zhang
AU  - Yuanxiang Shi
PY  - 2024
DA  - 2024/11/22
TI  - ESG Performance, Product Market Competition, and High-Quality Corporate Development
BT  - Proceedings of the 2024 5th International Conference on Management Science and Engineering Management (ICMSEM 2024)
PB  - Atlantis Press
SP  - 399
EP  - 423
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-570-6_41
DO  - 10.2991/978-94-6463-570-6_41
ID  - Zhang2024
ER  -