The Belt and Road Initiative and ESG Performance of the Enterprises
Regarding the Belt and Road Initiative(BRI)as a quasi-natural experiment,this paper takes Chinese A-share listed enterprises in Shanghai and Shenzhen from 2009 to 2022 as the research object and adopts DID method to evaluate the influence of BRI on ESG performance of the enterprises.The results show that BRI significantly promotes ESG performance of the enterprises,reflecting China's image as a big responsible country in the process of jointly constructing the Belt and Road(B&R).The mechanism test reveals that BRI can improve ESG performance of the enterprises by alleviating financing constraints and promoting digital transformation.The heterogeneity analysis indicates that the promotion effect of BRI on ESG performance of the enterprises is stronger in key cooperative industries,heavy-polluting cooperative industries,state-owned enterprises and enterprises in non-nodal cities.This paper provides reference for advancing the implementation of BRI and improving ESG performance of the enterprises.
the Belt and Road Initiative(BRI)ESG performance of the enterprisesfinancing constraintsdigital transformationDID method
NETL
NSTL
万方数据
