Giving full play to the role of"chain master"is critical to enhance the supply chain's resili-ence and realize high-quality economic development.This paper empirically examines the spillover effect of ESG performance of"chain master"based on the data of A-share listed enterprises in Shanghai and Shenzhen from 2013 to 2022.The result shows that the ESG performance of"chain master"can positively influence the chain node enterprises.The above conclusion has passed a series of endogeneity and robustness tests.Further research shows that the ESG performance of"chain master"exerts pressure mechanism,knowledge spillover mechanism,and ecological network syn-ergy mechanism on node enterprises.Moreover,the trust intensity between the"chain master"and the node enterprise has a positive moderating effect on this spillover effect.Additionally,the ESG performance of"chain master"is more exemplary when"chain master"enterprises are on the supply side or the merchant guild culture gangs more deeply influences node enterprises.We reveal the micro-mechanism of ESG performance of firms in the supply chain network,and provide practi-cal references for strengthening the driving role of"chain master"firms.
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