ESG rating divergence, information disclosure, and stock price volatility: evidence from Chinese listed companies

被引：1
|
作者：
Li, Chengming [1 ]
Lai, Shuhao [1 ]
机构：
[1] Minzu Univ China, Sch Econ, 27 Zhongguancun South St, Beijing 100081, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2024年
基金：
中国博士后科学基金; 中国国家自然科学基金;
关键词：
ESG rating divergence; stock price volatility; information disclosure; listed companies;
D O I：
10.1080/13504851.2024.2365327
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study utilizes ESG rating data from nine rating agencies covering Chinese A-share listed companies from 2006 to 2022 to construct a more rational measurement of ESG rating divergence and examines its impact on stock price volatility. The results indicate that excessive ESG divergence worsens stock price volatility, but this linkage between divergence and volatility is mitigated when corporate information disclosure compliance improves.
引用
收藏
页数：6
相关论文
共 50 条
  • [1] Study on Voluntary Information Disclosure and Stock Price Synchronicity: Evidence from Chinese Listed Companies
    Zhang, Ben-Zhao
    Niu, Sheng-Jie
    PROCEEDINGS OF THE 2015 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND MANAGEMENT INNOVATION, 2015, 6 : 501 - 507
  • [2] Environmental, social, and governance information disclosure and stock price crash risk: Evidence from Chinese listed companies
    Xu, Nengrui
    Liu, Jing
    Dou, Huan
    FRONTIERS IN PSYCHOLOGY, 2022, 13
  • [3] ESG rating divergence and corporate green innovation: evidence from Chinese A-share listed companies
    Zhou, Chuanyu
    Cai, Peiling
    Wu, Yunfeng
    ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY, 2025,
  • [4] The Effect of Corporate Social Responsibility on Stock Price Volatility - Evidence from Chinese Listed Companies
    Song, Xiaotong
    JOURNAL OF INFORMATION & KNOWLEDGE MANAGEMENT, 2023, 22 (01)
  • [5] Corporate environmental information disclosure and stock price crash risk: Evidence from Chinese listed heavily polluting companies
    Zhang, Ziqi
    Su, Zhi
    Wang, Ke
    Zhang, Yongji
    ENERGY ECONOMICS, 2022, 112
  • [6] Corporate political connection building and stock price volatility: evidence from Chinese-listed companies
    Guo, Yuhang
    Huang, Lianghua
    Wang, Fanlin
    Guo, Xinxin
    APPLIED ECONOMICS, 2025, 57 (03) : 353 - 367
  • [7] The ESG rating, spillover of ESG ratings, and stock return: Evidence from Chinese listed firms
    Li, Hao
    Guo, Hui
    Hao, Xinyao
    Zhang, Xuan
    PACIFIC-BASIN FINANCE JOURNAL, 2023, 80
  • [8] Can good ESG performance reduce stock price crash risk? Evidence from Chinese listed companies
    Luo, Wenbing
    Tian, Ziyan
    Fang, Xusheng
    Deng, Mingjun
    CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2024, 31 (03) : 1469 - 1492
  • [9] Evaluation of ESG Ratings for Chinese Listed Companies From the Perspective of Stock Price Crash Risk
    Li, Sicheng
    Yin, Pengfei
    Liu, Shuai
    FRONTIERS IN ENVIRONMENTAL SCIENCE, 2022, 10
  • [10] Research on the relationship between ESG disclosure quality and stock liquidity of Chinese listed companies
    Cao, Xinda
    Mei, Tianshen
    Li, Shenglan
    GREEN FINANCE, 2024, 6 (01): : 24 - 51
12345