Impact of Corporate ESG Compliance on Surplus Persistence
The A-share listed companies from 2010 to 2021 were taken as the research sample to explore the impact and mechanism of corporate ESG compliance on surplus sustainability.The study finds that corporate ESG compliance has a significant positive effect on surplus sustainability.The mechanism test shows that corporate ESG compliance contributes to the realization of surplus sustainability by improving external analysts'attention and internal control.Heterogeneity analysis shows that the positive relationship between corporate ESG compliance and surplus sustainability is more significant in non-polluting industries and low air quality regions than in polluting industries and high air quality regions.Enterprises should actively participate in ESG disclosure and fulfill their green governance responsibilities for stable earnings and long-term development.
ESGsurplus sustainabilityexternal analyst attentioninternal control
万方数据
维普
