Government green procurement and corporate ESG performance. Wang, S., Wang, Z., & Li, B. Journal of Cleaner Production, Elsevier Ltd, 2024. Cited by: 0![Government green procurement and corporate ESG performance [link]](https://bibbase.org/img/filetypes/link.svg "link")
Paper doi abstract bibtex This study utilizes data from China's A-share listed companies from 2009 to 2022 and manually collects government green procurement lists published on the Chinese government procurement website. By matching this data with listed companies, we employ a multi-period Difference-in-Differences (DID) model to examine the impact of a firm's inclusion in government green procurement lists on its Environmental, Social, and Governance (ESG) performance. We find that government green procurement significantly improves firms' ESG performance. In the mechanism analysis, we find that executive green perceptions and media and analyst attention amplify the positive impact of government green procurement on firms' ESG performance. Through the heterogeneity analysis, we find that government green procurement promotes ESG performance more significantly when the listed company is a state-owned enterprise, and this promotion is more obvious in central state-owned enterprises. In addition, we find that government green procurement enhances ESG performance more significantly when the company is located in a region with higher levels of market integration. Further research find that government green procurement effectively inhibit “greenwashing” behavior and reduce the probability of negative events. Our findings provide important micro-empirical evidence for understanding the effects of market-based policy instruments on corporate ESG performance and contribute positively to the practice of improving corporate governance capabilities. © 2024 Elsevier Ltd
@ARTICLE{Wang2024,
author = {Wang, Shoujie and Wang, Zhao and Li, Bo},
title = {Government green procurement and corporate ESG performance},
year = {2024},
journal = {Journal of Cleaner Production},
volume = {478},
doi = {10.1016/j.jclepro.2024.143945},
url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85206848870&doi=10.1016%2fj.jclepro.2024.143945&partnerID=40&md5=a7ce7831275b80c6347aa67ec2f56722},
affiliations = {School of Accounting, Capital University of Economics and Business, Beijing, China; Mobile Station, Nankai University School of Economics and Everbright Trust Co., Ltd, Beijing, China},
abstract = {This study utilizes data from China's A-share listed companies from 2009 to 2022 and manually collects government green procurement lists published on the Chinese government procurement website. By matching this data with listed companies, we employ a multi-period Difference-in-Differences (DID) model to examine the impact of a firm's inclusion in government green procurement lists on its Environmental, Social, and Governance (ESG) performance. We find that government green procurement significantly improves firms' ESG performance. In the mechanism analysis, we find that executive green perceptions and media and analyst attention amplify the positive impact of government green procurement on firms' ESG performance. Through the heterogeneity analysis, we find that government green procurement promotes ESG performance more significantly when the listed company is a state-owned enterprise, and this promotion is more obvious in central state-owned enterprises. In addition, we find that government green procurement enhances ESG performance more significantly when the company is located in a region with higher levels of market integration. Further research find that government green procurement effectively inhibit “greenwashing” behavior and reduce the probability of negative events. Our findings provide important micro-empirical evidence for understanding the effects of market-based policy instruments on corporate ESG performance and contribute positively to the practice of improving corporate governance capabilities. © 2024 Elsevier Ltd},
author_keywords = {China; ESG performance; Government green procurement; Market-based policy instrument; Sustainable development},
keywords = {Green economy; China; Chinese Government; Corporates; Environmental, social, and governance performance; Government green procurement; Green procurement; Market-based policy instrument; Performance; Policy instruments; State owned enterprise; Green development},
correspondence_address = {Z. Wang; School of Accounting, Capital University of Economics and Business, Beijing, China; email: wzcueb@cueb.edu.cn},
publisher = {Elsevier Ltd},
issn = {09596526},
coden = {JCROE},
language = {English},
abbrev_source_title = {J. Clean. Prod.},
type = {Article},
publication_stage = {Final},
source = {Scopus},
note = {Cited by: 0}
}
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