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Driving Corporate Sustainable Development: Assessing the Impact of ESG Disclosure on Sustainable Growth

In: The Palgrave Handbook of Green Finance for Sustainable Development

Author

Listed:
  • Jiapeng Dai

    (University of Wollongong Malaysia)

  • Qiao Liang

    (University of Wollongong Malaysia)

  • Eddy Tat Hiung Yap

    (University of Wollongong Malaysia)

Abstract

The primary objective of business growth is to attain long-term corporate expansion and optimise shareholder value. Additional research is required to investigate the impact of ESG disclosure on sustainable growth (SGR). By integrating stakeholder theory and signaling theory, a panel data analysis conducted on publicly traded A-share companies in China, reveals that disclosing ESG information can have a positive impact on promoting SGR. Companies that disclose ESG information experience greater promotion of sustainable growth compared to those that do not disclose such information. Moreover, the extent of ESG disclosure positively correlates with the magnitude of the beneficial impact on SGR. Additionally, ESG disclosure contributes to SGR by alleviating financing constraints as well as improving human capital. The results of our study enhance the existing knowledge on ESG disclosure, encourage companies to actively engage in ESG disclosure for SGR, and contribute to a deeper understanding of the relationship between ESG reporting and sustainable business growth.

Suggested Citation

  • Jiapeng Dai & Qiao Liang & Eddy Tat Hiung Yap, 2024. "Driving Corporate Sustainable Development: Assessing the Impact of ESG Disclosure on Sustainable Growth," Palgrave Studies in Impact Finance, in: Ahmed Imran Hunjra & John W. Goodell (ed.), The Palgrave Handbook of Green Finance for Sustainable Development, chapter 0, pages 595-616, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-031-65756-6_22
    DOI: 10.1007/978-3-031-65756-6_22
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    Citations

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    Cited by:

    1. Yang, Yanwu & Ren, Haili & Liu, Yutong & Yang, Yusen, 2025. "Integration of technology and finance, digital transformation and corporate green innovation," Finance Research Letters, Elsevier, vol. 71(C).
    2. Zhang, Cong & Teng, Wei & Liu, Zhaoqian, 2025. "Does managerial short-termism affect corporate social responsibility?," Finance Research Letters, Elsevier, vol. 73(C).
    3. Li, Lu & Gan, Yufei & Bi, Shuochen & Fu, Haokai, 2025. "Substantive or strategic? Unveiling the green innovation effects of pilot policy promoting the integration of technology and finance," International Review of Financial Analysis, Elsevier, vol. 97(C).
    4. Zhang, Xiaohan & Yang, Xi & Fu, Qiuyao, 2025. "Digital economy, dynamic capabilities, and corporate innovation boundary," Finance Research Letters, Elsevier, vol. 73(C).
    5. Wang, Shaohui & Yong, Yanlan & Liu, Xizhang & Wang, Yunliang, 2024. "How Fintech mitigates credit mismatches to promote green innovation: Evidence from Chinese listed enterprises," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    6. Gong, Qinyi & Zhang, Rui, 2025. "Digital finance as a catalyst for energy transition and sustainable rural economic growth," Finance Research Letters, Elsevier, vol. 71(C).
    7. Yue, Wang, 2025. "Supply chain digitalization and corporate green innovation," Finance Research Letters, Elsevier, vol. 74(C).
    8. Wang, Sanchuan & Shu, Wanwu & Cui, Lianbiao, 2024. "Green finance policy and green economic transformation," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    9. Tan, Yingxue & Lin, Bo & Wang, Leyi, 2025. "Green finance and corporate environmental performance," International Review of Economics & Finance, Elsevier, vol. 98(C).
    10. Ma, Lianfeng & Gan, Yufei & Huang, Ping, 2025. "Higher education investment, human capital, and high-quality economic development," Finance Research Letters, Elsevier, vol. 71(C).
    11. Zhao, Yidan & Zhang, Cong & Zhao, Yiming & Zhou, Lin, 2025. "Data-Driven sustainability: Examining the impact of data element utilization on corporate ESG performance," Finance Research Letters, Elsevier, vol. 73(C).
    12. Dong, Haiyan & Zhang, Cong & Teng, Wei, 2025. "Top management team heterogeneity and corporate ESG performance," Finance Research Letters, Elsevier, vol. 73(C).
    13. Zhao, Minghui & Fong, Kwong Yee & Leong, Wai Nga & Li, Qiu & Chen, Rujie, 2025. "Nonexecutive employee compensation and firm labor productivity," Finance Research Letters, Elsevier, vol. 73(C).
    14. Wei, Feiqiong & Xie, Baiwei & Chen, Mingyan, 2025. "Digital financial inclusion, e-commerce development and entrepreneurial activity," International Review of Financial Analysis, Elsevier, vol. 97(C).
    15. Li, Yu & Zhong, Huiyi & Tong, Qiye, 2024. "Artificial intelligence, dynamic capabilities, and corporate financial asset allocation," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    16. Wu, Jianan & Guo, Cheng & Liu, Xiaojing & Dai, Jiapeng, 2025. "Policy-driven employment structure transformation: The role of innovation and education investment," International Review of Economics & Finance, Elsevier, vol. 98(C).
    17. Wang, Lu, 2025. "Digital transformation, audit risk, and the low-carbon transition of China's energy enterprises," Finance Research Letters, Elsevier, vol. 71(C).
    18. Zhang, Zhi & Meng, Qingkun & Wang, Jun & Wu, Ying, 2025. "Digital economy, customer stability, and organizational resilience," Finance Research Letters, Elsevier, vol. 72(C).
    19. Li, Pengcheng & Guo, Xiaochuan & Wang, Fengzheng & Zhang, Qifeng, 2025. "Digital transformation and corporate innovation boundaries: Role of supply chain concentration and transparency," International Review of Financial Analysis, Elsevier, vol. 98(C).
    20. Li, Ziwei & Hyung, Dae Eun & Lee, Dong Young, 2025. "Financial flexibility and corporate financing efficiency," International Review of Financial Analysis, Elsevier, vol. 98(C).
    21. Zhang, Cong & Yang, Jianhua, 2024. "Artificial intelligence and corporate ESG performance," International Review of Economics & Finance, Elsevier, vol. 96(PC).
    22. Liu, Meihan & Zhao, Jingjie & Liu, Hongtao, 2025. "Digital transformation, employee and executive compensation, and sustained green innovation," International Review of Financial Analysis, Elsevier, vol. 97(C).
    23. Hu, Haichuan & Jia, Zhenting & Yang, Siyao, 2025. "Exploring FinTech, green finance, and ESG performance across corporate life-cycles," International Review of Financial Analysis, Elsevier, vol. 97(C).
    24. Chen, Qian, 2025. "Energy policy uncertainty, financial development and public-private investment in BRIC nations," Finance Research Letters, Elsevier, vol. 71(C).

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