Corporate ESG Disclosure and New Quality Productivity: Evidence from Corporate Reputation Mechanisms

The ESG concept encompasses corporate values of sustainable growth and green development, aligning with the contemporary essence of new quality productivity. This study examines the relationship between corporate ESG disclosure and new quality productivity from a reputation perspective, revealing that ESG disclosure promotes both short- and long-term new quality productivity. It facilitates these enhancements through the signal transmission effect and spillover effects of corporate reputation. Furthermore, regional social trust and environmental regulations amplify the enhancement effect of corporate ESG disclosure on new quality productivity, exerting a stronger moderation influence in the long term. Conversely, ESG rating divergence suppresses this enhancement effect, with a more pronounced inhibitory impact in the long term. Additional analysis indicates that media sentiment coverage influences this promotional effect. Positive media sentiment can enhance the positive impact of corporate ESG disclosure, while negative media sentiment can weaken this impact. The findings indicate that reputation influences the effect of ESG disclosure on new quality productivity. These conclusions provide valuable insights into corporate ESG management and the formulation of regulatory ESG policies.