Supply chain ESG and non-financial corporate shadow banking: Evidence from China

被引：3

作者：

Zhao, Chunyan ^{[1
]}

Gan, Zhongxin ^{[2
]}

Xu, Zhibo ^{[2
]}

机构：

[1] Tongling Univ, Sch Accounting, Tongling 244061, Anhui, Peoples R China

[2] Solbridge Int Sch Business, Daejeon, South Korea

来源：

FINANCE RESEARCH LETTERS | 2024年 / 66卷

关键词：

Supply chain; ESG; Shadow banking; SOCIAL-RESPONSIBILITY; IMPACT; DEPENDENCY;

D O I：

10.1016/j.frl.2024.105682

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the impact of supply chain ESG on non-financial corporate shadow banking using data on Chinese listed firms from 2009 to 2022. We find that improved supply chain ESG performance effectively inhibits non-financial corporate shadow banking. Mechanism tests indicate that supply chain ESG enhances information transparency, encourages entity investment and alleviates financial constraints. In addition, the negative effect is more pronounced in more marketized regions. Overall, this paper approaches shadow banking from a brand-new perspective that integrates supply chain and ESG.

引用

页数：9

共 29 条

[1] Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence [J].

Albuquerque, Rui ;

Koskinen, Yrjo ;

Zhang, Chendi .

MANAGEMENT SCIENCE, 2019, 65 (10) :4451-4469

[2] Corporate Social Responsibility and Investment Efficiency [J].

Benlemlih, Mohammed ;

Bitar, Mohammad .

JOURNAL OF BUSINESS ETHICS, 2018, 148 (03) :647-671

[3] The impact of supply chain concentration on integration and business performance [J].

Chen, Meng ;

Tang, Xinlin ;

Liu, Hefu ;

Gu, Jibao .

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, 2023, 257

[4] Information Externalities and Voluntary Disclosure: Evidence from a Major Customer's Earnings Announcement [J].

Cho, Young Jun ;

Kim, Yongtae ;

Zang, Yoonseok .

ACCOUNTING REVIEW, 2020, 95 (06) :73-96

[5] Shadow banking of non-financial firms: Arbitrage between formal and informal credit markets in China [J].

Du, Julan ;

Li, Chang ;

Wang, Yongqin .

JOURNAL OF FINANCIAL INTERMEDIATION, 2023, 55

[6] The Impact of Corporate Sustainability on Organizational Processes and Performance [J].

Eccles, Robert G. ;

Ioannou, Ioannis ;

Serafeim, George .

MANAGEMENT SCIENCE, 2014, 60 (11) :2835-2857

[7]

Fang X. M., 2023, EC RES J, V58, P91, DOI DOI 10.54691/BCPBM.V47I.5193

[8] A study of supply chain relationship change and RFID IT adoption: Evidence from listed companies [J].

Gu, Fei ;

He, Mingke .

FINANCE RESEARCH LETTERS, 2024, 61

[9] Economic policy uncertainty, non-financial enterprises' shadow banking activities and stock price crash risk [J].

Han, Xun ;

Hsu, Sara ;

Li, Jianjun ;

An, Ran .

EMERGING MARKETS REVIEW, 2023, 54

[10] Identifying the impact of bank competition on corporate shadow banking: Evidence from China [J].

Jiang, Chun ;

Chang, Ya-Qi ;

Ge, Xinyu ;

Si, Deng-Kui .

ECONOMIC MODELLING, 2023, 126

← 1 2 3 →