This paper investigates the relationship between a firm's ESG performance and customer stability using data from A-share listed firms in China. The study finds a positive correlation between ESG performance and customer stability, suggesting that higher ESG scores lead to improved customer retention and sales. This relationship is mediated by enhanced internal and external regulation, and improved corporate reputation. Heterogeneity analysis reveals stronger effects in firms with higher governance levels and smaller sizes, with environmental and social responsibility indicators showing the most significant impact.
Publisher
HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS
Published On
Jul 30, 2024
Authors
Hong Xu, Yukun Li, Weifen Lin, Hui Wang
Tags
ESG performance
customer stability
A-share firms
corporate reputation
governance levels
sales retention
environmental responsibility
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