ESG engagement, country-level political risk and bank liquidity creation

Chien Chiang Lee, Meiting Lu, Chih Wei Wang, Chia Yu Cheng

研究成果: 雜誌貢獻期刊論文同行評審

7 引文 斯高帕斯(Scopus)

摘要

This study explores the influence of banks' environmental, social, and governance (ESG) performance and country-level risk factors on liquidity creation. Utilizing a distinctive sample of 2103 bank-year observations from 2000 to 2020 in Asia, the study finds that banks' ESG performance exerts a positive impact on bank liquidity creation. Furthermore, this relationship is more prominent in countries with high geopolitical risk and corruption risk and low levels of democratization. To address endogeneity concerns, a two-stage least squares regression is employed using two instrumental variables, and the findings remain robust. These findings have practical implications for banks and policymakers to consider a country's political risk when promoting ESG activities and facilitating liquidity creation.

原文???core.languages.en_GB???
文章編號102260
期刊Pacific Basin Finance Journal
83
DOIs
出版狀態已出版 - 2月 2024

指紋

深入研究「ESG engagement, country-level political risk and bank liquidity creation」主題。共同形成了獨特的指紋。

引用此