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Financial agglomeration, financing costs, and corporate ESG performance

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  • Xiao, De
  • Xu, Xiaotian

Abstract

This study uses 2012–2022 data from non-financial firms in China's A-share market to explore the impact of financial agglomeration and financing costs on ESG performance. Results show that financial agglomeration positively affects ESG, while financing costs have a negative impact. Firm size moderates the relationship between financial agglomeration and ESG, with a significant threshold effect. Additionally, the effects of financial agglomeration and financing costs on ESG vary across different types of firms.

Suggested Citation

  • Xiao, De & Xu, Xiaotian, 2025. "Financial agglomeration, financing costs, and corporate ESG performance," Finance Research Letters, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:finlet:v:84:y:2025:i:c:s154461232501044x
    DOI: 10.1016/j.frl.2025.107786
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    References listed on IDEAS

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    1. Tülay TELLİOĞLU & Banu DEMİRHAN, 2025. "Analyzing The Impact Of Esg Scores On Financial Performance Using Ccep Estimation: Evidence From Borsa Istanbul," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 20(3), pages 261-279, December.

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