ESG Performance and Corporate Leverage Manipulation
DOI: 10.23977/acccm.2024.060515 | Downloads: 16 | Views: 375
Author(s)
Bao Qu 1, Xingxing Mo 1
Affiliation(s)
1 School of Accounting, Guizhou University of Finance and Economics, Guiyang, 550025, China
Corresponding Author
Xingxing MoABSTRACT
Preventing and resolving debt risks is an important task in the management of state-owned enterprises and a crucial foundation for their high-quality development. This article takes A-share listed companies from 2007 to 2022 as research samples to examine the impact of ESG performance and corporate leverage manipulation behavior. Research has found that ESG performance effectively suppresses corporate leverage manipulation, and subdividing E, S, and G all have significant inhibitory effects. Mechanism research has found that ESG suppresses corporate leverage manipulation behavior by alleviating financing constraints, improving corporate reputation, and curbing earnings manipulation. Heterogeneity analysis found that the inhibitory effect of ESG on corporate leverage manipulation is mainly more significant in non-heavy polluting enterprises and enterprises with high deleveraging pressure.
KEYWORDS
ESG performance; Leverage manipulationCITE THIS PAPER
Bao Qu, Xingxing Mo, ESG Performance and Corporate Leverage Manipulation. Accounting and Corporate Management (2024) Vol. 6: 101-108. DOI: http://dx.doi.org/10.23977/acccm.2024.060515.
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