Green investors and ESG ratings divergence
Abstract Green investors, as key participants in corporate governance, play a crucial role in addressing the ESG ratings divergence. This study investigates how green investors influence ESG ratings divergence using data from Chinese A-share listed firms from 2015 to 2023. The results show that gree...
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| Format: | Article |
| Language: | English |
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Nature Portfolio
2025-07-01
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| Series: | Scientific Reports |
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| Online Access: | https://doi.org/10.1038/s41598-025-05329-x |
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| author | Yiyun Ge Ruixuan Zhang Hanbin Zhu |
| author_facet | Yiyun Ge Ruixuan Zhang Hanbin Zhu |
| author_sort | Yiyun Ge |
| collection | DOAJ |
| description | Abstract Green investors, as key participants in corporate governance, play a crucial role in addressing the ESG ratings divergence. This study investigates how green investors influence ESG ratings divergence using data from Chinese A-share listed firms from 2015 to 2023. The results show that green investors significantly reduce ESG ratings divergence by alleviating information asymmetry between firms and ESG rating agencies. The effect is more pronounced in non-SOEs, firms with lower environmental transparency and poorer governance environment, non-heavily polluting firms, especially the firms with lower air pollution, and firms with stricter environmental regulations. The findings highlight green investors’ critical role in mitigating ESG ratings divergence and provide insights into their governance impact. |
| format | Article |
| id | doaj-art-1521555fc2aa49c4b28e3d4528fbcbdf |
| institution | Kabale University |
| issn | 2045-2322 |
| language | English |
| publishDate | 2025-07-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj-art-1521555fc2aa49c4b28e3d4528fbcbdf2025-08-20T03:38:15ZengNature PortfolioScientific Reports2045-23222025-07-0115113110.1038/s41598-025-05329-xGreen investors and ESG ratings divergenceYiyun Ge0Ruixuan Zhang1Hanbin Zhu2School of Economics and Management, Jiangsu University of Science and TechnologyDepartment of Accounting, Business School, Nanjing UniversityDepartment of Accounting, Business School, Nanjing UniversityAbstract Green investors, as key participants in corporate governance, play a crucial role in addressing the ESG ratings divergence. This study investigates how green investors influence ESG ratings divergence using data from Chinese A-share listed firms from 2015 to 2023. The results show that green investors significantly reduce ESG ratings divergence by alleviating information asymmetry between firms and ESG rating agencies. The effect is more pronounced in non-SOEs, firms with lower environmental transparency and poorer governance environment, non-heavily polluting firms, especially the firms with lower air pollution, and firms with stricter environmental regulations. The findings highlight green investors’ critical role in mitigating ESG ratings divergence and provide insights into their governance impact.https://doi.org/10.1038/s41598-025-05329-xESG ratings divergenceGreen investorsInformation asymmetry |
| spellingShingle | Yiyun Ge Ruixuan Zhang Hanbin Zhu Green investors and ESG ratings divergence Scientific Reports ESG ratings divergence Green investors Information asymmetry |
| title | Green investors and ESG ratings divergence |
| title_full | Green investors and ESG ratings divergence |
| title_fullStr | Green investors and ESG ratings divergence |
| title_full_unstemmed | Green investors and ESG ratings divergence |
| title_short | Green investors and ESG ratings divergence |
| title_sort | green investors and esg ratings divergence |
| topic | ESG ratings divergence Green investors Information asymmetry |
| url | https://doi.org/10.1038/s41598-025-05329-x |
| work_keys_str_mv | AT yiyunge greeninvestorsandesgratingsdivergence AT ruixuanzhang greeninvestorsandesgratingsdivergence AT hanbinzhu greeninvestorsandesgratingsdivergence |