원문정보
초록
영어
This study investigates the effect of corporate strategy deviance on ESG performance and the moderating effect of investor sentiment in China. In addition, we further explore whether the nature of property rights and regional differences will affect the relationship between them. We find that corporate strategy deviance can significantly inhabit ESG performance. And investor sentiment negatively moderates the inhibitory effect of strategy deviance on ESG. Furthermore, compared with non-state-owned corporates and corporates in the central and western regions, the inhibitory effect of strategy deviance on ESG performance is more significant in the state-owned corporates and corporates in east regions. This result enriches the economic consequence of strategy deviance and supply the motivation of ESG performance.
목차
Ⅰ. Introduction
Ⅱ. Literature Review and Hypothesis Development
2.1 Strategy Deviance
2.2 ESG Performance
2.3 Hypothesis Development
Ⅲ. Methodology
3.1 Sample Selection
3.2 Variable Definitions
3.3 Research Models
IV. Regression Result
4.1 Descriptive Statistics
4.2 Correlation Analysis
4.3 Regression Analysis
Ⅴ. Robustness Test
5.1 Replace the Measurement Method of ESG Performance
5.2 Endogeneity Test
Ⅵ. Further Analysis
6.1 Analysis based on the Nature of Property Rights
6.2 Analysis based on the Regions
Ⅶ. Conclusions
References