Stock Market Liberalization and ESG Disclosure Quality —— Evidence from China
认领作者 认领管理权限
发布日期:2022年11月15日 上次修订日期:2022年11月15日

摘要

In this paper, we use a distinct quasi-natural experiments to examine the effect of liberalization of the stock market on corporate environmental, social, and governance(ESG) disclosure quality. We find that the liberation of the opening of Shanghai(Shenzhen)-Hong Kong Stock Connect (SHSC) significantly and consistently improves ESG disclosure quality of listed companies, and this effect is most evident in environmental information disclosure. We then find that the SHSC can improve the quality of ESG disclosure of listed companies through “voting with feet” and “external supervision” effect. Furthermore, the effect is stronger in firms that are Non-SOEs and with low equity concentrations. Overall, our results suggest that the liberalization of stock market can improve the quality of companies’ ESG disclosure quality.

论文统计数据

  • 浏览次数:

  • 下载次数:

    0

相关文献

Hongrui Chai ; Shuai zhang ; Wenyao Zhao ; Stock Market Liberalization and ESG Disclosure Quality —— Evidence from China (2022年11月15日)http://www.cfrn.com.cn//lw/gsjr/gszllw/104625b9ce664c948e68aafcf026517d.htm

选择要认领的作者
真实姓名
*邮 箱
身份验证
确认
取消