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Enterprises’ globalization and ESG performance

Author

Listed:
  • Hu, Huijing
  • Tu, Zekai
  • Chen, Aoyun
  • Huang, Juanjuan

Abstract

This paper selects the data of China's A-share listed companies from 2011 to 2021 to explore the impact of enterprises' internationalization behaviors on their ESG performance. The study finds that internationalization activities promote the optimization of ESG performance;internationalization of state-owned enterprises (SOEs) in the field of production and operation is more conducive to the enhancement of their own ESG performance than internationalization of non-state-owned enterprises (NSOEs) at the level of their governance structure;especially in the manufacturing industry, has a more significant positive effect on ESG.

Suggested Citation

  • Hu, Huijing & Tu, Zekai & Chen, Aoyun & Huang, Juanjuan, 2023. "Enterprises’ globalization and ESG performance," Finance Research Letters, Elsevier, vol. 58(PD).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323010255
    DOI: 10.1016/j.frl.2023.104653
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    References listed on IDEAS

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    Cited by:

    1. Zhou, Jing & Wu, Kaiwen & Li, Youwei, 2025. "Does firm internationalization improve ESG performance? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 101(C).
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    3. Ma, Luyao & Lv, Xin & Shen, Zhiyang & Yu, Chang & Zhang, Qingyi, 2026. "How green bonds influence corporate environmental behaviour: A heterogeneous analysis," Research in International Business and Finance, Elsevier, vol. 83(C).
    4. Zhang, Lu & Xu, Shiyan & Chen, Jun & Li, Heng & Huo, Jiazhen, 2025. "The impact of ESG ratings on corporate overseas performance: A quasi-experiment based on a staggered DID model," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1453-1466.
    5. Yang, Ping & Lv, Yanqin & Chen, Xiaodan & Lv, Juan, 2024. "Digital finance, natural resource constraints and firms' low-carbon behavior: Evidence from listed companies," Resources Policy, Elsevier, vol. 89(C).
    6. Luo, Wenbing & Lei, Shuting & Deng, Mingjun, 2025. "How CEO social capital affects corporate ESG performance? evidence from China," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 264-280.
    7. Liu, Xue-Ying & Zhao, Xin-Xin & Ma, Kun & Sharma, Susan Sunila, 2024. "The impact of financial sanctions on ESG performance of target countries," Pacific-Basin Finance Journal, Elsevier, vol. 87(C).
    8. Stephen Chen & Jintao Zhang & Hao Tan, 2025. "Comparing the Effects of Internationalization on CSR in Service and Non-Service MNEs," Management International Review, Springer, vol. 65(3), pages 459-485, June.
    9. Tu, Zhengge & Cao, Yu & Goh, Mark & Wang, Yujia, 2024. "Executive green cognition and corporate ESG performance," Finance Research Letters, Elsevier, vol. 69(PB).
    10. Xu, Mengmeng & Wang, Zihao & Zhou, Yanjiao & Wang, Feng & Wu, Zhan, 2025. "Environmental information transparency and firms' sustainable development: Evidence from automatic environment monitoring and information disclosure in China," Energy Economics, Elsevier, vol. 150(C).
    11. Ren, Zhongfu & Xu, Han, 2025. "From fee to tax: Can legal system strengthening enhance environmental performance?," Finance Research Letters, Elsevier, vol. 86(PF).
    12. Hai, Benlu & Shi, Hongyan & Piao, Tianyu & Dou, Zhaoheng, 2024. "Digitalization of tax administration and its impact on corporate ESG performance," Finance Research Letters, Elsevier, vol. 68(C).
    13. Adriana Michel Campos Velarde & Ana Lucia Gutierrez Gutierrez & Isabella Mercado Arango & Jennifer Dominic Ochavano Aguero & Valeria Estefany Quiroz Saavedra & Julio Ricardo Moscoso Cuaresma & Carlos , 2025. "The Impact of Business Internationalisation on Corporate Social Responsibility: A Study of Peruvian Manufacturing Firms," Sustainability, MDPI, vol. 17(11), pages 1-22, May.
    14. Li, Puying & Li, Xinna & Wu, Qiang, 2025. "Digitalization drives Sustainability: How digital trade enhances corporate ESG performance through innovation, internationalization and transparency," International Review of Economics & Finance, Elsevier, vol. 101(C).
    15. Lin, Yuya & Li, Shoubo, 2025. "Supply chain resilience, ESG performance, and corporate growth," International Review of Economics & Finance, Elsevier, vol. 97(C).
    16. Suo, Wen & Qiao, Pengliang, 2025. "Patient capital, green innovation bubble, and corporate ESG performance," Finance Research Letters, Elsevier, vol. 86(PF).
    17. Pengfei Ge & Yichao Liu & Chuxiong Tang & Rui Zhu, 2025. "Green bonds and corporate Environmental social and governance performance: Innovative approaches to identifying greenwashing in green bond markets," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(1), pages 1060-1078, January.
    18. Wang, Chenxi & Duan, Ran & Pan, Xingguang, 2024. "Directors assigned by non-state shareholders and innovation in state-owned enterprises," Finance Research Letters, Elsevier, vol. 66(C).

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