ESG Performance,Institutional Investors'Shareholding and Corporate Performance——Empirical Evidence from China's Capital Market
ESG is the core framework and evaluation system for enterprises to fulfill their environmental,social and governance responsibilities.In order to encourage listed companies to pay more attention to ESG practice,this paper takes the data of Shanghai and Shenzhen A-shares listed companies from 2010 to 2021 as samples to explore the relationship among ESG performance,institutional investor shareholding and corporate performance through empirical research.The results show that there is a significant positive correlation between ESG performance and institutional investor shareholding on corporate performance.Institutional investor shareholding plays a moderating role between ESG performance and corporate performance.The ESG performance of listed companies in high-tech industries,heavy pollution industries and low marketization areas has a more significant role in promoting their performance.Based on the above research conclusions,companies should strengthen ESG performance to promote performance improvement,enhance its interaction with institutional investors,and develop ESG strategies for specific industries conforming to regional differences.The government should strengthen the ESG information disclosure policy,support institutional investors to participate in corporate governance and provide differentiated policy support.
ESG performancecorporate performanceshareholding by institutional investors
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