Does managerial networking impinge our morality in Guanxi context? The moderating effect of corruption perception

Wu, Bao; Fang, Chevy-Hanqing; Wang, Qi; Huang, Qiongxian

doi:10.1016/j.ememar.2023.101008

Cited by 6 publications

(2 citation statements)

References 91 publications

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“…The majority of empirical studies indicate a significant positive correlation between ESG practices and corporate financial performance (Fatemi et al, 2018;Friede et al, 2015). Moreover, a growing body of literature has found that ESG performance not only reshapes corporate operations (Fatemi et al, 2018;Friede et al, 2015), but also influences strategic decisions related to business growth and expansion, such as corporate investment activities (Mohammad & Wasiuzzaman, 2021) and innovation activities (Jin et al, 2024;Wu, Fang, et al, 2023;Wu et al, 2024).…”

Section: Corporate Esg and Its Outcomes In Stakeholder Frameworkmentioning

confidence: 99%

“…Apart from macro‐level policy support, such as the Belt and Road Initiative, it is worth paying attention to potential corporate strategies that have contributed to this remarkable growth in OFDI (Liu et al, 2020). Second, although Chinese firms were accused of frequent misconduct in the early stages of pursuing rapid development (Wu, Fang, et al, 2023), in recent years, the majority of Chinese listed companies have made efforts to integrate sustainability into their corporate strategies (Tan & Zhu, 2022; Zhang & Lucey, 2022). A Chinese sample is therefore suitable to explore the association between ESG performance and OFDI.…”

Section: Introductionmentioning

confidence: 99%

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How does ESG performance impact corporate outward foreign direct investment?

Wang,

Ren,

et al. 2024

Financ Manag Account

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In recent decades, environmental, social, and governance (ESG) factors have received increasing attention in the literature of corporate internationalization. While prior studies have extensively examined how ESG initiatives implemented in the host country enhance corporate international performance, less attention has been paid to the facilitating role of previously accumulated ESG performance in the internationalization process. Drawing on a sample of 2083 unique publicly listed Chinese firms from 2010 to 2019, we explore whether and how ESG performance promotes corporate outward foreign direct investment (OFDI). Our findings indicate a positive association between corporate ESG performance and both the propensity and scale of OFDI. We also identify financial constraints and corporate reputation as two mechanisms through which ESG performance influences OFDI. Our additional analysis suggests that the reputation‐strengthening mechanism of ESG performance is more pronounced for family firms, whereas no significant difference is observed between family and nonfamily firms in terms of the financial mechanism. These findings have important implications for managers and policymakers seeking to promote sustainable development and internationalization.

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