小蝌蚪福建导航app绿巨人王彩博士与中央民族大学管理学院蒋亚含博士、中国会计学会李莎博士、中央民族大学管理学院硕士生万晶合作撰写的学术论文“Do institutional investors’ corporate site visits improve ESG performance? Evidence from China”在《Pacific-Basin Finance Journal》2022年第12期发表。
Based on data from a sample of Chinese Shenzhen-listed companies from 2012 to 2020, this paper studies the relationship between institutional investors’ corporate site visits and environmental, social, and governance (ESG) performance. We find that the subsequent ESG performance of firms visited by institutional investors is significantly improved. Further analysis shows that institutional investors drive companies to improve ESG levels by improving the quality of corporate accounting information, increasing environmental protection investment, and increasing media attention. We further document that the positive effects of investors’ site visits on corporate ESG performance are more pronounced for financially constrained enterprises, enterprises receiving more government grants, and enterprises in highly polluted regions. Overall, these findings suggest that institutional investors’ site visits can play a governance role in corporate ESG activities.