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Supply chain ESG and non-financial corporate shadow banking: Evidence from China

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  • Zhao, Chunyan
  • Gan, Zhongxin
  • Xu, Zhibo

Abstract

This paper examines the impact of supply chain ESG on non-financial corporate shadow banking using data on Chinese listed firms from 2009 to 2022. We find that improved supply chain ESG performance effectively inhibits non-financial corporate shadow banking. Mechanism tests indicate that supply chain ESG enhances information transparency, encourages entity investment and alleviates financial constraints. In addition, the negative effect is more pronounced in more marketized regions. Overall, this paper approaches shadow banking from a brand-new perspective that integrates supply chain and ESG.

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  • Zhao, Chunyan & Gan, Zhongxin & Xu, Zhibo, 2024. "Supply chain ESG and non-financial corporate shadow banking: Evidence from China," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324007128
    DOI: 10.1016/j.frl.2024.105682
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    References listed on IDEAS

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    1. Zhao, Qiao & Wang, Wangqing & Tao, Yingjia, 2025. "Supply chain sustainability and its impact on firm market competitiveness: A perspective based on ESG practices," International Review of Economics & Finance, Elsevier, vol. 101(C).
    2. Liu, Tingting & Du, Yong & Tan, Shuying & Zhao, Shuhan, 2025. "Peer effect of nonfinancial corporate shadow banking: Evidence from common analyst networks in China," Global Finance Journal, Elsevier, vol. 68(C).
    3. Gan, Zhongxin & Yusupov, Nurmukhammad, 2025. "Supply chain ESG and green innovation at midstream firms: An integrated approach with both supplier and buyer sides," Research in International Business and Finance, Elsevier, vol. 78(C).

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