Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024)

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The Impact of Environmental, Social, and Governance Performance on Corporate Financing Constraints: Evidence from China’s Listed Companies

Authors
Xingyu Liu1, *
1School of Business, East China University of Science and Technology, Shanghai, China
*Corresponding author. Email: 21011663@mail.ecust.edu.cn
Corresponding Author
Xingyu Liu
Available Online 19 December 2024.
DOI
10.2991/978-94-6463-598-0_2How to use a DOI?
Keywords
ESG performance; Financing constraints; Sustainable development
Abstract

This paper focuses on A-share listed companies in non-financial industries in China from 2013 to 2022 as the research subject, and empirically analyzes the impact of ESG evaluation on corporate financing constraints. The study reveals that strong ESG performance significantly alleviates corporate financing constraints, with robust and reliable results. Furthermore, through grouping tests, it is evident that the effect of ESG performance on alleviating financing constraints is particularly pronounced in companies that voluntarily disclose their ESG performance. Hence, it is imperative for enterprises to prioritize the development of ESG practices, and for governments to enhance incentives and guidance.

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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Volume Title
Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
19 December 2024
ISBN
978-94-6463-598-0
ISSN
2352-5428
DOI
10.2991/978-94-6463-598-0_2How to use a DOI?
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.

Cite this article

risenwbib
TY  - CONF
AU  - Xingyu Liu
PY  - 2024
DA  - 2024/12/19
TI  - The Impact of Environmental, Social, and Governance Performance on Corporate Financing Constraints: Evidence from China’s Listed Companies
BT  - Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024)
PB  - Atlantis Press
SP  - 4
EP  - 12
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-598-0_2
DO  - 10.2991/978-94-6463-598-0_2
ID  - Liu2024
ER  -