The impact of companies disclosing ESG reports in multiple languages on the enthusiasm of foreign investors for holding shares.

ABSTRACT: We collect Chinese A-share listed companies from 2013 to 2022 as samples and use the multi-period difference-in-difference model (DID) to study the impact of multilingual ESG report disclosure on the enthusiasm of foreign investors. We find that Chinese companies disclose ESG reports in both Chinese and English stimulate the enthusiasm of foreign investors to hold shares. The main manifestations are the expansion of the company's foreign shareholding quota and the increase in the number of shareholders. Further research show that disclosure of multilingual ESG reports makes up for the readability of company annual reports for foreign investors. In the case of companies with poor analyst attention and comparability of accounting information, and companies that hire non-big four auditing fir

SUBMITTER: Bao R 

PROVIDER: S-EPMC10919622 | biostudies-literature | 2024

REPOSITORIES: biostudies-literature