Abstract
This study uses a dataset spanning Chinese publicly-listed firms from 2013 through 2022 to explore the connection between managerial overconfidence, institutional investor shareholdings, and firm ESG performance. The findings reveal that managerial overconfidence has a positive impact on ESG performance; increased participation of institutional investors in shareholding contributes to enhancing ESG performance. Media attention plays a significant moderating role in the relationship between managerial overconfidence and firm ESG performance. Furthermore, we find dissimilarities in how managerial overconfidence affects ESG performance among state-owned and privately-owned corporations.
| Original language | English |
|---|---|
| Article number | 106594 |
| Journal | Finance Research Letters |
| Volume | 72 |
| DOIs | |
| State | Published - Feb 2025 |
| Externally published | Yes |
Keywords
- ESG performance
- Institutional investor shareholding
- Managerial overconfidence
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