Can ESG Performance Promote Regional Economic Development?
Environmental,Social,and Governance(ESG)factors,serving as the cornerstone of sustainable de-velopment,play a pivotal role in fostering regional economic development.Based on data from Shanghai and Shenzhen A-share listed companies from 2013 to 2022,this paper empirically analyzes the positive effect of ESG performance on regional economic growth.The study indicates that ESG performance notably propels regional economic development,and this finding is strongly supported by a series of rigorous robustness tests.Further mechanistic analysis reveals that ESG effectively drives positive regional economic growth through bolstering innovation capabilities and elevating infor-mation transparency.Notably,this positive impact is not significantly hindered by the product market competition,but exhibits geographical differences,particularly in eastern and central regions,implying that the implementation of ESG strategies in these regions exerts a more substantial influence on promoting economic development.Moreover,the study underscores the paramount importance of ESG factors in the social and governance dimensions within regional e-conomic development.These dimensions are not merely a manifestation of corporate responsibility but also vital cata-lysts for regional economic transformation and upgrading.
万方数据
维普
