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Finance and Accounting Research Seminar with Professor Hanwen Sun

Department of Finance and Accounting

You are invited to attend a Department of Finance and Accounting Research Seminar with Professor Hanwen Sun, University of Bath

Event details


Title: Competitive Pressure and ESG

Abstract: A firm’s exposure to competition is negatively associated with its ESG performance. We measure domestic competitive pressure by product market fluidity, based on prod[1]uct text descriptions, and find that higher fluidity – indicating higher product market threats – is associated with lower ESG scores. Fluidity matters more for financially constrained firms, capital-intensive industries, and costly activities, as well as firms with shorter-term shareholders. Increasing exposure to Chinese import competition is associated with a reduction in ESG scores. This effect of import competition is stronger for firms less exposed to domestic competition. Local climate attitudes moderate the effect of competitive pressure.

We are delighted to welcome Professor Hanwen Sun from the University of Bath to present a seminar


Building:One Marchant Syndicate Room A