Institutional joint shareholding, digital transformation and corporate ESG performance

•Institutional co-ownership will lead to lower corporate ESG performance.•Enterprise information transparency plays an intermediary role.•Our findings help improve the application of digital transformation. Based on the data of Shanghai and Shenzhen A-shares from 2008 to 2023, this paper verifies th...

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Bibliographic Details
Published in:Finance research letters 2024-10, p.106336, Article 106336
Main Authors: Hu, Yaoxing, Yang, Xinyao
Format: Article
Language:English
Subjects:
Conflict effect
Digital transformation
ESG performance of enterprises
Institutional joint shareholding
Transparency of information
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Summary:•Institutional co-ownership will lead to lower corporate ESG performance.•Enterprise information transparency plays an intermediary role.•Our findings help improve the application of digital transformation. Based on the data of Shanghai and Shenzhen A-shares from 2008 to 2023, this paper verifies the impact of institutional co-ownership on the ESG performance of enterprises. We find that institutional co-ownership will lead to a decrease in ESG performance, and corporate information transparency plays an intermediary role, resulting in a collusive effect with institutional co-ownership. In addition, digital transformation plays a moderating role, helping to alleviate the inhibitory effect of institutional co-shareholding on ESG performance, and finally turning into a positive promoting effect.
ISSN:1544-6123
DOI:10.1016/j.frl.2024.106336