GX & Decarbonization Research

J. Przybytniowski, Paweł Dziekański

This study identifies and analyzes greenwashing strategies in financial services, assessing their systemic risk to sustainable development. Using systematic literature review and EU legal analysis (SFDR, EU Taxonomy, CSRD, Green Claims Dire…

B. Saktiawan, T. R. Dewi, T. Risfandy +1

This study examines how bank competition affects corporate ESG performance in Indonesia and Malaysia using panel data from 588 firms (2015-2024). Fixed effects analysis shows that increased bank competition boosts ESG performance by easing …

Cyrine Mhiri, A. Ajina

Using panel data of 337 US firms from 2015-2021, this study finds that better SDG performance reduces the cost of equity, highlighting financial benefits of sustainability.

Zijun Hong

This study examines the impact of China's 'New Quality Productive Forces' (NQPF) concept on greenwashing in manufacturing firms. Using entropy method to measure NQPF, it finds that NQPF significantly reduces greenwashing by alleviating fina…

Yihang Zhao

Using Chinese A-share listed firms from 2012-2023, this paper finds that green factory certification improves ESG performance through easing financing constraints and stimulating green innovation, with stronger effects in low-carbon pilot c…

Fan Zhang

This paper examines the impact of ESG performance on financial performance of Chinese manufacturing firms from 2019 to 2023 using a two-way fixed effects model. It finds that better ESG performance improves financial performance by reducing…

Xin Liu

This study examines the impact of ESG rating divergence (ESGRD) on firm resilience using Chinese data. It finds that ESGRD significantly reduces firm resilience. The information channel has a positive effect (reducing analyst forecast diver…

Zhao Xue

This paper systematically examines how ESG ratings affect corporate financial and non-financial performance, using stakeholder theory and resource-based view. It finds that superior ESG performance improves financial metrics and long-term c…

Tanveer Bagh, Elie Bouri, Hammad Riaz +1

This study examines the effect of ESG performance on corporate risk-taking in a global sample of 8,492 firms across 52 countries (2011-2023). Higher ESG standards reduce excessive risk-taking, strengthened by strong governance. Mechanisms i…

Yuyi Pan

This paper examines how ESG ratings and securities markets drive green technology development in carbon-intensive industries. It analyzes the impact of ESG scores on financing costs and equity premiums, and tests their effect on R&D expendi…

Yuhao Zhang, Shiyu Liu, Muhammad Zubair Tauni

This study uses panel data from Chinese A-share listed firms (2010-2023) to show that strong ESG performance significantly boosts green innovation. The effect is mediated by reduced financing constraints and lower information asymmetry, and…

Ruochen Wu

Using data from Chinese A-share listed companies from 2010 to 2024, this study employs a fixed-effects model to examine the impact of ESG performance on corporate debt financing costs. Findings show that strong ESG performance significantly…

Dr. Hitesh G. Suthar, Dr. Ketan Rabhadia, Manish Gupta +2

This study examines how the convergence of ESG and fintech drives sustainability. It covers green fintech platforms, AI-driven ESG scoring, and blockchain-enabled traceability for green bonds. It highlights how regulatory pressures and cons…

Sukma Febrianti, Mustaruddin Mustaruddin, Wendy Wendy

This study examines the effect of green finance and capital structure on firm value, with sustainability disclosure as a mediator, using Indonesian data. Findings show green finance positively affects firm value both directly and indirectly…

Qidong Zhang

This paper empirically analyzes how ESG rating disagreements affect corporate green loans. It finds that greater rating divergence leads to higher verification costs and reduced credibility, resulting in smaller loan amounts and lower inter…

Sejal Jaiswal, Sheetal Singh Kharwar

This conceptual paper argues that environmental responsibility is a core dimension of corporate social responsibility, using stakeholder, legitimacy, institutional, and sustainable finance theories. It proposes a framework linking environme…

A. Masum, Md. Abul Kalam Azad, Md. Tofael Ahmed Bhuiyan +1

This study proposes a framework combining a stacking ensemble of LightGBM, XGBoost, and MLPs with a novel Federated Dynamic Weighted Averaging (FedDWA) algorithm to address data heterogeneity, outliers, and privacy in ESG forecasting. Empir…

Minh Vinh Vo, Thuy Vi Le, Cao Ky Anh Dang +1

This paper investigates the impact of ESG-linked investment instruments (green financing and SRI) on profitability of publicly-owned enterprises in emerging markets. Using survey data from 385 respondents, regression analysis shows green fi…

Binghong Lin, B. Li, Tao Zhang

This study uses Chinese A-share listed firms from 2014-2021 to examine how green institutional investors affect corporate ESG performance. Results show they promote ESG by easing financing constraints, enhancing green management, and improv…

Yu Cao, H. H. Mohd, F. Mohd +1

This study analyzes how corporate sustainability transition policy affects ESG performance in China, examining the mediating roles of green innovation and financing constraints.