The impact of environmental, social, and governance ratings on corporate innovation: From the perspective of informal institutions
Wei Zhu,
Wei‐jian Li,
Lei Wang
Abstract:The significance of rating events in capital markets has garnered considerable attention from investors, experts, and academics, with third‐party rating agencies being one of the topics. We focus on the impact of environmental, social, and governance (ESG) ratings on corporate innovation and confirm a positive relationship. We also believe that ESG ratings play a governance role as informal institutions in stimulating corporate innovation. The efficacy of ESG ratings in promoting corporate innovation is depend… Show more
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