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| A Study of the Impact of Competitor ESG Controversies on Corporate ESG Performance |
| YANG Youde，XU Guanghua，ZHONG Ma |
| 1. Nanjing University of Science and Technology, Nanjing, China; 2. Nanjing Forestry University, Nanjing, China |
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Abstract This study examines the impact of competitor ESG controversies on the ESG performance of Chinese A-share listed companies from 2012 to 2020. The results show that competitor ESG controversies significantly improve focal firms’ ESG performance. Analyst attention strengthens this relationship, while corporate finance constraints weaken it. Competitor ESG controversies influence focal firms’ ESG performance by driving their motivations for competitive catching-up and risk avoidance, with competitive catching-up playing a crucial role. Furthermore, the effect of competitor ESG controversies on firms’ ESG performance is significant only in the maturity phase, not in the growth and decline stages.
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Received: 20 November 2023
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