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ESG performance and investment-financing maturity mismatch: Evidence from Chinese A-share listed companies

Author

Listed:
  • Liu, Jiaxin
  • Li, Jingfang
  • Zhang, Yuan

Abstract

This paper tests the impact mechanism of ESG performance on investment and financing mismatch of Chinese listed companies from 2010 to 2023. It is found that ESG performance has a significant alleviating effect on the investment and financing mismatch of enterprises. The debt maturity structure and the information transparency play a mediating role between the two. Furthermore, the impact of an enterprise's ESG performance on the mismatch of its investment and financing is more significant among enterprises with a higher risk appetite, non-state-owned, lower external supervision intensity, and non-manufacturing.

Suggested Citation

  • Liu, Jiaxin & Li, Jingfang & Zhang, Yuan, 2025. "ESG performance and investment-financing maturity mismatch: Evidence from Chinese A-share listed companies," Finance Research Letters, Elsevier, vol. 85(PC).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pc:s1544612325013406
    DOI: 10.1016/j.frl.2025.108083
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    References listed on IDEAS

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