A full belly counsels well: More stabilisation with more responsibility
Xiaoqi Sheng
TL;DR
This study shows that stable supply chains improve corporate ESG performance, especially for large and non-tech firms in China.
Contribution
It reveals how supply chain stability enhances ESG performance through reduced risk, agency costs, and financing constraints.
Findings
Supply chain stability improves ESG performance, confirmed by multiple robust methods.
The effect is stronger in large firms, non-technology-intensive firms, and those in western regions.
Stable supply chains reduce risk-taking, agency costs, and financing constraints, boosting ESG.
Abstract
This paper uses the data of Chinese A-share listed companies from 2009 to 2022 to study the impact of supply chain stability on corporate ESG performance. To study the impact and mechanism of supply chain stability on corporate ESG performance. This paper found that the improvement of supply chain stability can improve the ESG performance of firms, and this conclusion still holds after the instrumental variables method, systematic GMM method, PSM method, omitted variables test and Double Machine Learning (DML) approach, and the improvement of supply chain stability can optimise the ESG performance of firms through the channels of reducing the corporate risk-taking, reducing the agency costs, and reducing the financing constraints, and this facilitating effect is more significant in the large firms, firms with higher-standard audit supervision, firms located in western regions, and…
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Taxonomy
TopicsSupply Chain Resilience and Risk Management · Global trade, sustainability, and social impact · Sustainable Supply Chain Management