How does digital finance affect firm environmental, social and governance (ESG) performance? - Evidence from Chinese listed firms

被引：24
作者：
Xue, Liuyang [1 ]
Dong, Junan [2 ]
Zha, Yifan [3 ]
机构：
[1] Nankai Univ, Business Sch, Baidi Rd, Tianjin 300071, Peoples R China
[2] Shandong Univ, Sch Management, Jinan 250100, Shandong, Peoples R China
[3] Dongbei Univ Finance & Econ, Sch Business Adm, Dalian 116025, Liaoning, Peoples R China
来源：
HELIYON | 2023年 / 9卷 / 10期
关键词：
Digital finance; Environmental Social and governance (ESG) performance; Sustainable development; Mechanism analysis; China; SUB-NATIONAL INSTITUTIONS; CORPORATE GOVERNANCE; AGENCY COSTS; RESPONSIBILITY; INNOVATION; TRANSFORMATION; TECHNOLOGY; STRATEGIES;
D O I：
10.1016/j.heliyon.2023.e20800
中图分类号：
O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];
学科分类号：
07 ; 0710 ; 09 ;
摘要：
The use of digital finance to promote firm environmental, social, and governance (ESG) fulfillment is the key to achieving sustainable development. This study uses the data of Chinese listed firms from 2010 to 2019 and China Digital Financial Inclusion Index of Peking University to empirically examine the impact and mechanism of digital finance on firm ESG performance. Results show that digital finance significantly and positively impacts firm ESG performance. Mechanism tests reveal that digital finance influences ESG performance by promoting firm green innovation, improving firm goodwill and reducing agency costs. Moreover, political connections negatively moderate the relationship between digital finance and firm ESG performance, while regional institutional development positively moderates this relationship. Subdivision of digital finance dimension test shows that the main factors affecting ESG performance are the depth of use and the degree of digitization, while the breadth of coverage is not significant. Digital finance can also promote firm innovation by promoting ESG performance. This study integrates the value effect of digital finance with the concept of sustainable development, which has important theoretical and practical significance.
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页数：12
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