Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026)

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Corporate ESG Performance and Its Impact on Financial Constraints in China’s A-Share Listed Companies

Authors
Yaxin Luo1, *
1School of Arts, Design & Architecture, The University of New South Wales, Sydney, 2052, Australia
*Corresponding author. Email: 984468077@qq.com
Corresponding Author
Yaxin Luo
Available Online 29 April 2026.
DOI
10.2991/978-94-6239-642-5_47How to use a DOI?
Keywords
ESG Performance; Financial Constraints; Leverage; Firm Size; Heterogeneity Analysis
Abstract

In light of significant changes in the global economic and social landscape, corporate environmental, social, and governance (ESG) performance has increasingly become a central focus for investors and stakeholders. This study examines a sample of non-financial listed companies in China’s A-share market from 2015 to 2024, employing ESG rating data from SynTao Green Finance to investigate the influence and mechanisms of corporate ESG performance on financing constraints. Utilizing a panel regression methodology, the research incorporates leverage ratio and enterprise size as moderating variables to conduct a comprehensive analysis of the differential effects of financing constraints on enterprises. The findings reveal that ESG performance substantially mitigates corporate financing constraints, with the effect being more pronounced in enterprises with low leverage and smaller scale. Robustness checks further affirm the validity of these conclusions. The results provide empirical evidence for companies aiming to optimize their financing conditions and achieve sustainable development by enhancing their ESG performance.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
29 April 2026
ISBN
978-94-6239-642-5
ISSN
2352-5428
DOI
10.2991/978-94-6239-642-5_47How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yaxin Luo
PY  - 2026
DA  - 2026/04/29
TI  - Corporate ESG Performance and Its Impact on Financial Constraints in China’s A-Share Listed Companies
BT  - Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026)
PB  - Atlantis Press
SP  - 486
EP  - 497
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-642-5_47
DO  - 10.2991/978-94-6239-642-5_47
ID  - Luo2026
ER  -