业务
债务
内债
政府(语言学)
金融体系
负债率
中国
债务水平和流动
政府债务
债务与国内生产总值比率
会计
货币经济学
财务
经济
政治学
语言学
哲学
法学
作者
S. Z. Nie,J. Liu,Gang Zeng,Jiyuan You
标识
DOI:10.1016/j.frl.2023.104416
摘要
This paper is the first to incorporate local government debt pressure, government behaviors and corporate ESG performance into analytical framework. Using the comprehensive data of government debt and Chinese listed companies from 2015 to 2020, we find the negative correlation between debt pressure and corporate ESG performance. Furthermore, the adverse influence of debt pressure on corporate ESG performance is markedly pronounced in state-owned companies, companies with elevated political relevance, and companies situated in the inland and northern regions of China. The study also reveals that debt pressure weak ESG performance by aggravating financial constraints and diminishing the capacity for green innovation.
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