Local government debt pressure and corporate ESG performance: Empirical evidence from China
FINANCE RESEARCH LETTERS(2023)
摘要
•This paper is the first to incorporate local government debt pressure, government behaviors and corporate ESG performance into analytical framework.•Local government debt pressure has significant negative effect on corporate ESG performance.•The negative impact of debt pressure on corporate ESG performance varies heterogeneously with different level of development and political relevance.•Debt pressure reduces corporate ESG performance by reducing green innovation capacity and exacerbating financing constraints.
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关键词
local government debt pressure,corporate esg performance
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