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Media attention, information asymmetry and agribusiness ESG rating divergence

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  • Chen, Tianyu
  • Yin, Ding
  • Li, Xinghua
  • Xu, Xuegao

Abstract

This study examines the impact of media attention on the divergence of ESG ratings among Chinese A-share agricultural companies from 2015 to 2022, utilizing data from six domestic and international rating agencies. The findings indicate that increased media attention reduces ESG rating divergence, especially for non-state-owned enterprises, those not audited by the "Big Four," and companies that do not independently disclose ESG reports. Additionally, information asymmetry moderates the relationship between media attention and ESG rating divergence. Robustness tests confirm the reliability of these results.

Suggested Citation

  • Chen, Tianyu & Yin, Ding & Li, Xinghua & Xu, Xuegao, 2025. "Media attention, information asymmetry and agribusiness ESG rating divergence," Finance Research Letters, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612324017501
    DOI: 10.1016/j.frl.2024.106721
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    5. Shen, Ling & Yang, Xiaozhong & Ma, Guangcheng, 2025. "Can companies’ participation in ESG ratings improve green innovation efficiency? Evidence from Chinese A-share listed companies," Finance Research Letters, Elsevier, vol. 78(C).
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    7. Tongsheng Yao & Yong Shi, 2026. "When ESG ratings disagree: information uncertainty and firm-specific volatility," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 31(4), pages 1-26, April.
    8. Si, Deng-Kui & Zhou, Fu-You & Li, Xiao-Lin & Kong, Dongmin, 2025. "The effect of financial marketization on the nexus between ESG rating uncertainty and corporate innovation," International Review of Financial Analysis, Elsevier, vol. 106(C).
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