A study of the impact of short selling deregulation on ESG performance of listed companies
This paper examines the impact of short selling deregulation on the ESG performance of listed companies and its mechanism of action based on the data of A-share listed companies from 2009 to 2021.The results show that short selling deregulation significantly improves the ESG performance of listed companies.The results of the study pass the parallel trend test and a series of robustness tests.The results by the empirical tests indicate that the promotion effect of short selling deregulation on ESG performance of listed companies is characterized by ownership hetero-geneity and regional heterogeneity.The results by further research indicate that the enhancement effect of short selling deregulation on the ESG performance of listed companies is of more signifi-cance in the case of lower information transparency and higher external monitoring pressure.
short selling deregulationESGinformation transparencyexternal monitoring pressure
万方数据
维普
