?
Comparative analysis of the impact of sustainable development practices on the financial performance of private and state-owned Chinese companies
International Journal of Technology. 2026. Vol. 17. No. 3.
In press
This study examines the relationship between sustainable development practices, assessed through environmental, social, and governance (ESG) indicators, and corporate financial performance in Chinese firms. Financial performance is measured by return on assets (ROA) and enterprise value-to-EBITDA multiples. The research also analyses the moderating effect of ownership structure, comparing private enterprises (PEs), central state-owned enterprises (CSOEs), and local state-owned enterprises (LSOEs). This study addresses a critical gap concerning the moderating role of ownership in emerging markets and seeks to reconcile contradictory findings in the context of mixed-ownership economies. Utilizing a dataset of 2,984 Chinese firms from 2018 to 2024, panel regression and 2SLS methods are employed to test hypotheses and address endogeneity. The results indicate that higher overall ESG scores are positively associated with ROA and firm valuation, with effects appearing after a one-year lag. However, the influence of ESG components is heterogeneous: social and governance factors have minimal impact, governance practices negatively affect SOEs due to agency issues, and environmental initiatives reduce ROA for private firms but less so for SOEs. Conversely, environmental performance significantly enhances valuation for CSOEs. ESG effects vary by ownership; private firms show weak or neutral responses, while SOEs’ effects depend on their mandate execution. LSOEs are more sensitive to environmental factors in valuation than CSOEs, reflecting greater investor attention. This study advances understanding of how ownership structure shapes the value derived from ESG practices. Future research should explore industry and geographic variation, non-linear relationships, and conduct comparative studies across emerging economies.
Lukin A., Telos 2026 Vol. 2026 No. 215 P. 11–41
The year 2026 marks the sixtieth anniversary of the beginning in China of the “Great Proletarian Cultural Revolution” – an unprecedented political campaign both in its duration and in the tragic nature of its results and consequences. Despite the publication of numerous books and articles devoted to it in various countries around the world, its ...
Added: July 18, 2026
Sizova A., В кн.: Сибирь в фокусе исторических и востоковедных исследований : сборник научных статей, посвященный 70-летию со дня рождения известного ученого, педагога, просветителя и общественного деятеля, доктора исторических наук, профессора Александра Владимировича Старцева (1956–2019).: Барнаул: Алтайский государственный педагогический университет, 2026. С. 197–212.
The article examines the contribution of A. V. Startsev, Doctor of Historical Sciences, to the study of the Biysk merchant A. D. Vasenev, a prominent figure in Russian-Mongolian and Russian-Chinese trade in the late nineteenth and early twentieth centuries. It also considers the role of this research in shaping Startsev’s scholarly interests. The article identifies ...
Added: July 8, 2026
Murashkin N., Emelyanova O., Asia Europe Journal 2025 Vol. 23 No. 4 P. 239–261
The goal of this article is to trace the evolution of Japan’s role in Southeast and South Asian political economy in the 2000s–2010s to understand how Japan’s previously established network power in Asian supply chains has changed amid much-discussed power shifts in the region. The increasing number of emerging and rising regional powers induces Japan ...
Added: June 30, 2026
EDP Sciences, 2024.
The 1st International Scientific Conference «Green taxonomy for sustainable development: From Green Technologies to Green Economy» (CONGREENTAX-2024) was held in Tashkent, Uzbekistan. For the first time, this conference unites technical and economic sciences into a single whole, to solve theoretical and practical solutions for sustainable development. The event was organized by the National Research University ...
Added: June 28, 2026
Dobrynina Polina, Grishunin S., , in: The 12th International Conference on Information Technology and Quantitative Management (ITQM 2025).: Netherlands: ScienceDirect, 2025. P. 166–174.
The study conducts an examination of the effects of sanctions imposed on Russia, focusing on profitability and creditworthiness of large non-financial enterprises as measured by return on assets (ROA) and return on capital employed (ROCE). The analysis encompasses the period from 2015 to 2022 and includes a sample of 58 Russian corporations. The sanctions index ...
Added: June 28, 2026
Vukovic N., Аверина А. О., Стефанова К. А., Анализ и прогноз. Журнал ИМЭМО РАН 2026 № 1 С. 26–39
Responsible business conduct and environmental, social, and governance (ESG) policies play a crucial role in advancing the global sustainable development agenda. As businesses worldwide integrate sustainability into their strategic frameworks, ESG ratings serve as key instruments for assessing corporate responsibility and guiding investment decisions. This paper conducts a comparative analysis of major international ESG ratings ...
Added: June 19, 2026
Popov K., Писчикова Е. А., Российский журнал менеджмента 2026 Т. 24 № 1 С. 45–70
Purpose: this study aims to assess the impact of independent directors’ characteristics on voluntary ESG disclosure by Russian public non-financial companies. Methodology: this study conducts an econometric analysis of panel data on 56 large Russian public non-financial companies listed on the Moscow Stock Exchange, which published standalone ESG and sustainability reports from 2017 to 2023. Findings: the significant positive impact ...
Added: June 16, 2026
Милькова А. А., Вестник Пермского университета. Серия: Политология 2026 Т. 20 № 1 С. 104–114
The article is devoted to strategic narratives about the international system in the foreign policy dis-course of the President of the People's Republic of China Xi Jinping. An analysis of their evolution revealed the growing influence of Chinese political thought in shaping the modern world order, which is a topic of great academic and practical ...
Added: May 6, 2026
Churakova I., Nazarova V., Journal of Corporate Finance Research 2026 Vol. 20 No. 1 P. 86–99
This paper presents an empirical analysis based on the correlation between ESG performance and cost of equity capital of listed companies in mainland China and Hong Kong, China from 2018 to 2022. The final empirical results of the study show that there is a negative correlation between ESG performance and cost of equity capital in ...
Added: May 3, 2026
Shaposhnikov S., Kiselev S., Азия и Африка сегодня 2026 № 4 С. 14–25
This article explores the nature of asymmetric interdependence in Sino-Japanese relations, analyzing trade flows, investment dynamics, technological cooperation, and geopolitical factors shaping bilateral ties. Japan is significantly dependent on China as its largest export market and key manufacturing base, while China remains reliant on Japan for critical technologies, precision equipment, and advanced materials. Both states ...
Added: April 29, 2026
Budnik R., Журнал зарубежного законодательства и сравнительного правоведения 2026 Т. 22 № 2 С. 15–26
This article examines the precedential cooperation between the governmental and business entities in eradicating piracy in the informational area of China. The purpose of the study is to analyze the unique empirical approach to the implementation of public policy aimed at restoring the effective functioning of mechanisms for the protection and enforcement of intellectual property ...
Added: April 27, 2026
Ismailova E., Финансы и бизнес 2026 Т. 22 № 1 С. 37–61
In recent years, there has been a growing body of research examining how environmental, social, and governance (ESG) indicators affect the terms of mergers and acquisitions (M&A). A particularly relevant issue is the relationship between a company’s ESG profile and the acquisition premium — a markup over the target firm's market value. This review summarizes ...
Added: April 24, 2026
Biryukova O. V., Kupalov I., Zhang W., R-Economy 2026 Vol. 12 No. 1 P. 109–125
Relevance. Twenty-five years after China’s accession to the WTO, the multilat eral trading system faces unprecedented challenges, including institutional pa ralysis, geopolitical fragmentation, and rising protectionism. Against this back drop, China’s trajectory offers a critical case study of how a major non-Western economy can simultaneously integrate into, adapt to, and reshape global trade governance. Yet existing literature often ...
Added: April 6, 2026
Vassily B. Kashin, Veronika A. Smirnova, Alexandra D. Yankova, Russia in Global Affairs 2026 Vol. 24 No. 2 P. 79–95
This article examines China’s comprehensive mobilization policies undertaken since the early 2020s. Analysis reveals that they span multiple domains. First, China is developing a protected inland reserve of critical industrial capacity. Second, it is strengthening emergency supply mechanisms and accelerating the accumulation of food and raw-material reserves. Third, it is enhancing civil defense and urban ...
Added: April 1, 2026
Biryukova O. V., Жаронкина Д. В., Вопросы экономики 2026 № 3 С. 25–43
The article analyzes the state and dynamics of China’s service sector development as a key factor in enhancing the country’s international competitiveness. The study examines the parameters of China’s participation in international trade in services, which still lags significantly behind trade in goods. Nevertheless, the country places great emphasis on trade in services for a range of strategic, economic, and ...
Added: March 11, 2026
Karpova N. S., В кн.: Сборник докладов международной научной конференции «Современный Китай и Россия и перспективы реализации инициативы «Один пояс, один путь»/ Даляньский политехнический университет. — Далянь, 2025, 165 с.: [б.и.], 2025. С. 1–7.
The article analyzes the prerequisites and processes of rapid, large-scale and expanding market presence of the Chinese passenger car manufacturers in Russia based on export operations and other forms of cooperation in the 2020s. The most successful brands, priority forms, as well as prospective areas of work in the Russian market are highlighted. The importance ...
Added: February 25, 2026
Karpova N. S., [б.и.], 2025.
Collection of reports of the international scientific conference "Modern China and Russia and prospects for the implementation of the One Belt, One Road initiative"/ Dalian Polytechnic University. — Dalian, 2025. ...
Added: February 24, 2026
Bocharova A., Денисов И. Е., Зуенко И. Ю., Вестник Санкт-Петербургского университета. Востоковедение и африканистика 2025 Т. 17 № 2 С. 366–377
The article focuses on analyzing the perceptions of recent changes in China’s demographic pol-icy by the contemporary Chinese society. These changes involved the relaxation of restrictions on the number of children in a family, first to two children in 2015 and subsequently to three children in 2021. The relevance of this research stems from the ...
Added: February 19, 2026
Подбиралина Г. В., Мигалева Т. Е., Musaev A. U., США и Канада: экономика, политика, культура 2026 № 1(673) С. 5–17
The article analyzes current trends that explain the interest of leading states in the countries of the African continent. It is emphasized that the key factors behind such interest are the rapid economic growth of most countries and the rich resource base of the region. It is concluded that the largest economies of the world ...
Added: February 17, 2026
Senin V., Швырков Е. А., Бизнес. Общество. Власть 2025 № 3 (57) С. 156–173
The article provides a comparative analysis of the ESG practices of Russia's largest banks, focusing on their sustainable development strategies, corporate governance, and social and environmental initiatives. The authors examine the regulatory framework and taxonomy of ESG banking in Russia, analyze the reporting and projects of leading financial institutions (Sber, Sovcombank, Bank DOM.RF, Moscow Credit ...
Added: February 12, 2026
Kanaev E., Southeast Asia: Actual Problems of Development 2025 Vol. 3 No. 3(68) P. 25–37
The article explores by what legal tools and their digital support the People’s Republic of China (PRC) shapes the business landscape in Southeast Asian through the prism of its strategy to develop the Belt and Road Initiative (BRI). On exploring major directions of China’s policy in Southeast Asia and assessing the interim results obtained, the ...
Added: January 30, 2026
Sizova A., Чэнь Ф., Чжу Ч. et al., М.: Просвещение, 2025.
Учебник «Китайский язык. Второй иностранный язык. 5 класс» серии «Время учить китайский!» создан совместно с издательством «People’s Education Press» (Китайская Народная Республика) и предназначен для обучающихся общеобразовательных организаций, начинающих изучать китайский язык в качестве второго иностранного языка с 5 класса. Настоящий учебник подготовлен в соответствии с требованиями ФГОС ООО, утверждённого Приказом Министерства просвещения РФ № ...
Added: January 23, 2026