Affiliation:
1. College of Business Administration Capital University of Economics and Business Beijing China
2. Department of Information Management National Kaohsiung University of Science and Technology Kaohsiung Taiwan
3. UKM Graduate School of Business Universiti Kebangsaan Malaysia Bangi Selangor Malaysia
4. Institute of Innovation and Circular Economy Asia University Taichung Taiwan
5. Department of Medical Research China Medical University Hospital, China Medical University Taichung Taiwan
6. Ramon V. Del Rosario College of Business De La Salle University Manila Philippines
Abstract
AbstractThis study establishes a connection between existing literature on corporate environmental, social, and governance (ESG) matters, information disclosure, and green bonds by employing the issuance of green bonds to indicate investors' acknowledgment of a company's sustainable activities. Prior research has not adequately addressed the relationship between ESG performance, disclosure, and green bond issuance. A novel dataset has been compiled by merging ESG performance and information disclosure data of Chinese‐listed companies spanning from 2016 to 2020, alongside green bond issuance information from the Wind and Hexun databases. Concurrently, China's pursuit of carbon neutrality necessitates the establishment of a green, low‐carbon, and circular economy framework. ESG has surfaced as an indispensable instrument for appraising a company's sustainability and advocating the enhancement of its information disclosure systems, thereby aiding investors in forming well‐informed judgments. This study scrutinizes the correlation between each facet of ESG performance, disclosure, and green bond issuance, from the perspective of companies listed in emerging markets. The findings corroborate that companies exhibiting commendable ESG practices are more predisposed to issuing green bonds, particularly when such practices are suitably disclosed. The identified evidence will spur the enforcement of obligatory ESG disclosure regulations, further propelling China's advancement in ecological civilization and green finance.
Subject
Management, Monitoring, Policy and Law,Strategy and Management,Geography, Planning and Development,Business and International Management
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献