Management short-sighted behavior and enterprise ESG performance - Evidence from listed companies in China

doi:10.1016/j.frl.2024.106002

LZUFE-KMS > 会计学院

	Management short-sighted behavior and enterprise ESG performance - Evidence from listed companies in China
	Xing, Mingqiang1 ; Qi, Lili1 ; Dan, Hu 2; Gao, Mingwei 3
	2024-10
发表期刊	FINANCE RESEARCH LETTERS
卷号	68
摘要	High-order theory indicates that management characteristics determine strategic decision-making and enterprise performance. As developers of strategic directions of enterprises, managers are essential senior human capital. They are vital in strategic planning and adjustment based on external environmental changes impacting enterprise production and operation. China's current managerial context suggests a lack of long-term vision. Guided by sustainable development, long-term visioning is paramount for enterprises to resist external environmental threats and maintain sustainability. Thus, this study uses sample data of A-share non-financial listed companies from 2009 to 2020 to examine whether management's short-sighted behavior impacts enterprises' environmental, social, and governance (ESG) performance and its impact mechanism using a measurement index of management's short-sighted behavior that includes qualitative + quantitative methods. The heterogeneity of this impact based on managers with different backgrounds and senior management team structure is discussed. Our research indicates that management's myopic behavior can significantly inhibit ESG performance. This conclusion is still robust after considering endogeneity and multiple robustness tests. The inhibitory effect is markedly evident in enterprises with no background of poverty and with no overseas experiences; at the same time, this negative effect is more obvious in the executive team with low gender heterogeneity and no professional background in management. Mechanism analysis indicates that management's shortsighted behavior inhibits enterprises' ESG performance by reducing capital expenditure and green innovation performance. This study provides empirical support and theoretical evidence for enterprises to improve their ESG performance while offering insights for enterprises in developing countries to implement ESG practices.
关键词	Management's shortsighted behavior Enterprise ESG performance Capital expenditure Green innovation performance
DOI	10.1016/j.frl.2024.106002
收录类别	SSCI
ISSN	1544-6123
语种	英语
WOS研究方向	Business & Economics
WOS类目	Business, Finance
WOS记录号	WOS:001316504900001
出版者	ACADEMIC PRESS INC ELSEVIER SCIENCE
原始文献类型	Article
EISSN	1544-6131
引用统计	被引频次[WOS]：0 [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/38095
专题	会计学院
通讯作者	Dan, Hu
作者单位	1.Lanzhou Univ Finance & Econ, Sch Accounting, Lanzhou 730020, Peoples R China; 2.Wuhan Qingchuan Univ, Accounting Sch, Wuhan, Hubei, Peoples R China; 3.Univ Illinois Urbana Champagne, Urbana, IL USA
第一作者单位	兰州财经大学
推荐引用方式 GB/T 7714	Xing, Mingqiang,Qi, Lili,Dan, Hu,et al. Management short-sighted behavior and enterprise ESG performance - Evidence from listed companies in China[J]. FINANCE RESEARCH LETTERS,2024,68.
APA	Xing, Mingqiang,Qi, Lili,Dan, Hu,&Gao, Mingwei.(2024).Management short-sighted behavior and enterprise ESG performance - Evidence from listed companies in China.FINANCE RESEARCH LETTERS,68.
MLA	Xing, Mingqiang,et al."Management short-sighted behavior and enterprise ESG performance - Evidence from listed companies in China".FINANCE RESEARCH LETTERS 68(2024).