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Economic indicator accuracy and corporate ESG performance

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  • Zhu, Shiqian
  • Tian, Haowen
  • Wang, Chenyu

Abstract

Economic indicators are important tools used to assess the economic situation of a country or region and for macroeconomic control, and the decline in the accuracy of economic indicators creates potential risks. In this study, we use GDP as a proxy for economic indicators and empirically test the intrinsic correlation between its accuracy and firms’ ESG performance. Using A-share listed companies from 2013 to 2021 as our sample, and constructing a proxy for economic indicator accuracy through nighttime satellite data, we find that the accuracy of economic indicators significantly and positively impacts firms’ ESG performance. Furthermore, financial constraints and government intervention can strengthen this positive effect.

Suggested Citation

  • Zhu, Shiqian & Tian, Haowen & Wang, Chenyu, 2024. "Economic indicator accuracy and corporate ESG performance," Economics Letters, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:ecolet:v:243:y:2024:i:c:s0165176524003914
    DOI: 10.1016/j.econlet.2024.111907
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    References listed on IDEAS

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    3. Qureshi, Fiza & Qureshi, Saba & Ismail, Izlin & Yarovaya, Larisa, 2025. "Unlocking economic insights: ESG integration, market dynamics and sustainable transitions," Energy Economics, Elsevier, vol. 145(C).

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