Can ESG Performance Enhance Corporate Export Resilience?—Evidence from Listed Manufacturing Firms in China’s A-Stock Market

Abstract

Abstract: Amidst the dual challenges of deepening global sustainability imperatives and escalating trade protectionism, corporate ESG performance demonstrates resilience-enhancing capabilities to withstand external shocks through export channel empowerment. This study investigates the 2018 Sino-U.S. trade friction as an exogenous shock, employing fixed-effects models on panel data from 1,509 A-share listed manufacturing enterprises in China during 2018-2023. Key findings include:ESG performance significantly strengthens export resilience, with environmental (E) and social (S) dimensions exhibiting greater impacts than governance (G);Three verified transmission mechanisms emerge: green technological innovation acceleration, corporate reputation enhancement, and new-quality productive capacity cultivation;Heterogeneity analysis reveals amplified effects among heavily polluting industries, non-SOEs, central/eastern regional firms, and financially unconstrained enterprises.

Key words: ESG performance, corporate export resilience, sino-U.S. trade friction, reputational mechanism, factor upgrading

CLC Number:

F276.6

YAO Min, WANG Yibo. Can ESG Performance Enhance Corporate Export Resilience?—Evidence from Listed Manufacturing Firms in China’s A-Stock Market[J]. Journal of Guizhou University of Finance and Economics, 2026(04): 118-128.

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