Official Turnover and Corporate ESG Practices: Evidence from China
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View abstract on PubMed
Summary
This summary is machine-generated.Local official turnover in China influences corporate environmental, social, and governance (ESG) practices by altering economic policies and resource allocation. This effect is stronger with government intervention, industry competition, and for private firms.
Area Of Science
- Economics
- Political Science
- Corporate Governance
Background
- Growing concern for Environmental, Social, and Governance (ESG) practices.
- Limited research on situational factors influencing corporate ESG decisions.
- Need to understand macro-institutional impacts on ESG.
Purpose Of The Study
- To investigate the effect of local official turnover on corporate ESG practices in China.
- To analyze the boundary conditions (region, industry, corporate) of this effect.
- To explore the underlying motivations (risk aversion, development) driving ESG changes.
Main Methods
- Analysis of 9,428 observations from Chinese A-share listed companies (2009-2019).
- Econometric modeling to assess the relationship between official turnover and ESG.
- Examination of moderating effects across different regional, industry, and corporate characteristics.
Main Results
- Official turnover positively impacts corporate ESG practices.
- The effect is amplified under high government intervention, intense industry competition, and for private enterprises.
- Significant ESG promotion occurs with abnormal official turnover and strong regional economic development.
Conclusions
- Local official turnover is a significant macro-institutional factor influencing corporate ESG.
- Understanding situational dynamics is crucial for effective ESG strategy.
- Findings contribute to the literature on ESG decision-making scenarios.
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