The Impact of ESG Performance on Corporate Export Performance (An Empirical Study Based on Chinese Listed Companies)

Against the backdrop of global economic restructuring and sustainable development, ESG principles have gained widespread recognition and permeated all areas of the economy. As the world’s largest exporter of goods, China is promoting ESG, guided by both internal development imperatives and its responsibility as a major global power. Based on data on companies listed on the Shenzhen and Shanghai stock exchanges between 2011 and 2022, this article examines the effectiveness and mechanisms of ESG indicators’ impact on companies’ export activities. Empirical data show that high ESG indicators significantly increase both the volume and efficiency of exports, thereby improving overall export performance. These findings remain valid after a series of rigorous stability tests. Heterogeneity analysis shows that the positive impact of ESG indicators on exports is more pronounced among companies that adopt new technologies. Further analysis of the mechanisms shows that ESG indicators affect export performance in three ways: by easing financial constraints, reducing information asymmetry, and stimulating innovation.