Digital finance and corporate ESG performance: the roles of financial mismatch and executive education level
デジタルファイナンスと企業のESGパフォーマンス：金融ミスマッチと経営陣の教育レベルの役割 (AI 翻訳)
Rui Zhao, Jiasen Sun
🤖 gxceed AI 要約
日本語
本研究は、2011年から2022年までの中国A株上場企業を対象に、デジタルファイナンス（DIF）が企業のESGパフォーマンス（ESGP）に与える影響を分析した。DIFはESGPを向上させ、その効果はグリーンイノベーションの促進、資金制約の緩和、金融ミスマッチの解消を通じて間接的に発現する。また、経営陣の教育レベルが高いほど、DIFのESGP促進効果が強化される。
English
Using a sample of Chinese A-share listed companies from 2011 to 2022, this study investigates how digital finance (DIF) affects corporate ESG performance (ESGP). It finds that DIF enhances ESGP directly and indirectly through green innovation, easing financing constraints, and alleviating financial mismatches. Executive education level positively moderates this relationship. The results offer insights into the mechanisms linking digital finance to corporate sustainability.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本研究は中国企業を対象としていますが、デジタルファイナンスがESGパフォーマンスに与える影響を示しており、日本企業におけるデジタル化とESG統合の参考になります。金融ミスマッチや経営陣の教育水準という要素がESGパフォーマンス向上に果たす役割は、日本企業のガバナンス改革にも示唆を与えます。
In the global GX context
This study contributes to the global literature on digital finance and corporate sustainability by detailing the mediating roles of green innovation and financing constraints. While China-specific, the findings are relevant for international investors and regulators exploring how fintech can support ESG outcomes. The moderation effect of executive education underscores the importance of human capital in ESG integration.
👥 読者別の含意
🔬研究者:Researchers can explore the moderated mediation model linking digital finance to ESG performance through green innovation and financial mismatch.
🏢実務担当者:Corporate sustainability teams can leverage digital finance tools and focus on executive education to improve ESG performance.
🏛政策担当者:Policymakers can promote digital finance as a lever for corporate ESG enhancement, especially in emerging markets.
📄 Abstract（原文）
This study aims to explore the relationship between digital finance (DIF) and corporate environmental, social and governance performance (ESGP), with a specific focus on the roles of financial mismatch and executive education level in shaping this relationship. Using a sample of Chinese A-share listed companies from 2011 to 2022, the study investigates the relationship between DIF and corporate ESGP through a moderated mediation model. First, DIF enhances corporate ESGP, which remains robust across multiple robustness tests. In addition, the association between DIF coverage breadth and corporate ESGP follows a U-shaped pattern. Second, DIF indirectly enhances corporate ESGP by fostering green innovation, alleviating financing constraints and addressing financial mismatches. Third, executive education levels strengthen the favorable influence of DIF on corporate ESGP and green innovation and amplify DIF’s ability to mitigate financing constraints. Fourth, the impact of DIF on ESGP shows regional differences but does not differ in ownership or industry. This study contributes to existing literature by offering new insights into how DIF influences corporate ESGP. It emphasizes the crucial roles of financial mismatches and executive education levels in this process, which have been largely overlooked in previous research. The findings provide a deeper understanding of the mechanisms behind DIF’s impact on corporate sustainability and offer valuable implications for policymakers and corporate executives seeking to enhance ESGP through DIF.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1108/cg-04-2025-0273first seen 2026-05-15 20:52:56
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