IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v64y2024ics1544612324005063.html
   My bibliography  Save this article

How do property rights affect corporate ESG performance? The moderating effect of green innovation efficiency

Author

Listed:
  • Chen, Chaofan
  • Li, Wen-Bo
  • Zhang, Heng

Abstract

Data from China's A-share listed companies indicates that property rights (PR) significantly influence Environmental, Social, and Governance (ESG) performance, with state-owned enterprises (SOEs) outperforming non-SOEs. The state-owned shareholding ratio (SSR) does not linearly correlate with higher ESG performance. Instead, a non-linear threshold effect is observed, and maintaining SSR below 42 % significantly enhances ESG performance. Additionally, green innovation efficiency (GIE) moderates the impact of PR on ESG performance, and the increase in GIE exacerbates the disparity in ESG performance between SOEs and non-SOEs. Compared to the efficiency of applying green tech achievements, green tech R&D efficiency has a more pronounced moderating effect.

Suggested Citation

  • Chen, Chaofan & Li, Wen-Bo & Zhang, Heng, 2024. "How do property rights affect corporate ESG performance? The moderating effect of green innovation efficiency," Finance Research Letters, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324005063
    DOI: 10.1016/j.frl.2024.105476
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612324005063
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2024.105476?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Property rights; ESG performance; State-owned shareholding ratio; Green innovation efficiency; Three-stage DEA-SBM model;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324005063. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.