ESG Performance and Corporate Organizational Resilience: Evidence from A-share Listed Companie

Aiqi Yan; Boyan Zheng

doi:10.54691/23rbpe35

Authors

Aiqi Yan
Boyan Zheng

DOI:

https://doi.org/10.54691/23rbpe35

Keywords:

ESG Performance; Organizational Resilience; Performance Growth; Financial Volatility.

Abstract

With the development of the sustainable green concept and the operational challenges faced by most companies in today's complex and dynamic business environment, the ESG concept, which focuses on environmental, social and corporate governance, has gradually gained the attention of stakeholders and has gradually become a key component of corporate management, based on which this paper explores the impact of ESG performance on the organizational resilience of companies. Based on the A-share panel data of Chinese listed companies from 2009 to 2022, this paper conducts an empirical analysis based on the annual average of CSI ESG rating scores. The results show that ESG scores have significant positive results on corporate organizational toughness, and significant positive and negative effects on the dimensions of performance growth and financial volatility, respectively. In the heterogeneity analysis, relative to the non- manufacturing industry, the ESG performance of manufacturing enterprises has a stronger significance on organizational toughness; the results are more significant in the eastern region compared to the central region and the western region; and the results are significant for both non-state-controlled and state-controlled enterprises, but the coefficients are different.

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