How supply chain concentration affects the ESG performance of Chinese listed companies:A business perspective
Suppliers and customers are crucial stakeholders in a company's supply chain,and exploring the influence of supply chain structure on corporate sustainable development serves as a micro foundation for China's successful attainment of"carbon peaking and carbon neu-trality"goals.This paper focuses on the sample of Chinese A-share companies from 2010 to 2022 to investigate the effects and mechanisms of supply chain concentration on corporate envi-ronmental,social,and governance(ESG)performance.Empirical results are as follows.1)In-creasing supply chain concentration suppresses corporate ESG performance,and this conclusion holds true even after considering measurement errors,omitted variables,and reverse causality.2)Supply chain concentration hinders corporate ESG performance through heightened fluctua-tion in operating profit,operational slack and unabsorbed financial slack.The influence of supply chain concentration on corporate ESG performance is reinforced when the performance is above the aspiration and weakened when the performance is below the aspiration.3)The inhibitory effect of supply chain concentration on corporate ESG performance is more pronounced in state-owned enterprises,those with larger market shares,lower innovation capabilities,and higher information transparency.This paper deepens our understanding of the relationship between stakeholders and corporate sustainable development and provides critical scientific evidence for strengthening supply chain management and enhancing ESG performance for businesses.
NETL
NSTL
万方数据
