• A
  • A
  • A
  • АБВ
  • АБВ
  • АБВ
  • A
  • A
  • A
  • A
  • A
Обычная версия сайта
  • RU
  • EN
  • HSE University
  • Publications
  • Articles
  • ESG Transformation in the Largest Emerging Capital Market of China. A Literature Review
  • RU
  • EN
Расширенный поиск
Высшая школа экономики
Национальный исследовательский университет
Priority areas
  • business informatics
  • economics
  • engineering science
  • humanitarian
  • IT and mathematics
  • law
  • management
  • mathematics
  • sociology
  • state and public administration
by year
  • 2028
  • 2027
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
  • 2001
  • 2000
  • 1999
  • 1998
  • 1997
  • 1996
  • 1995
  • 1994
  • 1993
  • 1992
  • 1991
  • 1990
  • 1989
  • 1988
  • 1987
  • 1986
  • 1985
  • 1984
  • 1983
  • 1982
  • 1981
  • 1980
  • 1979
  • 1978
  • 1977
  • 1976
  • 1975
  • 1974
  • 1973
  • 1972
  • 1971
  • 1970
  • 1969
  • 1968
  • 1967
  • 1966
  • 1965
  • 1964
  • 1963
  • 1958
  • More
Subject
News
October 1, 2026
HSE Researchers Show How Congenital Motor Disorders Affect Brain Development
Researchers from HSE University’s Institute for Cognitive Neuroscience have synthesised the findings of their previous studies on brain development in children with obstetric brachial plexus palsy and arthrogryposis. Their analysis shows that impaired motor function in early childhood not only limits children’s motor experience but also affects memory, categorical thinking, and information processing. The study has been published in Frontiers in Psychology.
October 1, 2026
Window into the Body: Scientists Develop Neural Network to Detect Risk of 15 Diseases from Retinal Images
Russian universities, with the participation of HSE University, Sber, and Z-union, have developed a neural network that can simultaneously assess the risk of 15 types of pathology from retinal photographs, including not only eye diseases but also cardiovascular conditions. The AI system can help clinicians detect potentially concerning changes at an early stage, identify signs reflecting the condition of retinal blood vessels, and determine whether a patient may need further examination. The paper has been published in Frontiers in Medicine.
September 30, 2026
'We Did Not Limit the Time for Questions'
The International Laboratory for Supercomputer Atomistic Modelling and Multi-Scale Analysis at HSE University held a major conference on molecular dynamics. Participants had the opportunity to attend all the presentations, while speakers were given as much time as they needed to answer questions. The HSE News Service interviewed Grigory Smirnov, Head of the Laboratory, and Genri Norman, Chief Research Fellow, about the conference preparations and the discussions it generated.

 

Have you spotted a typo?
Highlight it, click Ctrl+Enter and send us a message. Thank you for your help!

Publications
  • Books
  • Articles
  • Chapters of books
  • Working papers
  • Report a publication
  • Research at HSE

?

ESG Transformation in the Largest Emerging Capital Market of China. A Literature Review

Journal of Corporate Finance Research. 2023. Vol. 17. No. 4. P. 132–150.
Wu Y.

The paper provides a scholarly examination of academic studies of the ESG landscape in China through a systematic literature review with a major focus on the nature and intensity of regulatory guidelines and policies. While many studies indicate positive effects of Chinese ESG policies on corporate ESG performance and investment, they primarily focus on environmental aspects. This analysis of China’s ESG rating system exposes relationships between ESG ratings, corporate performance, financing costs, including both debt and equity financing. The research on equity financing costs is inconsistent and limited in scope, indicating the need for additional investigation. Of the factors influencing ESG, the past year has seen a surge in research on the topic of digital transformation and ESG performance. Most studies demonstrate that
digital transformation contributes to ESG performance, and a few suggest that digital transformation positively moderates the effect of ESG performance on firm value enhancement. This review discusses the growth of ESG investment in China, focusing on pension funds, commercial banks, and ESG funds, as well as investor preferences. Despite the growing role of ESG in investment decisions, extant research is largely theoretical, underscoring the need for more empirical and quantitative studies. The research identifies gaps in studies devoted to ESG investment, including the need for comprehensive studies on the impact of ESG across various insurance types and industries, and the development of effective ESG quality assessment methods. This review is among the first academic resources summarizing and integrating various studies, and highlighting areas for future ESG research in China.

Language: English
DOI
Text on another site
Keywords: corporate performanceDigital Finance ChinaESG ratingsDigital transformation (DT)ESG DevelopmentESG InvestmentFinancing CostsPolicy response
Similar publications
China’s Discursive Legitimation of Foreign Policy: Framing of the Fukushima Wastewater Release Plan as an Existential Threat
Khliubko D., Oriental Studies 2026 Vol. 19 No. 2 P. 340–354
Introduction. China's harsh reaction to Japan's plan to release treated Fukushima wastewater is driven by more than environmental worries. I presume that the Chinese Communist Party (CCP) treats this episode as a legitimation tool. Goals. This article shows how official Chinese discourse legitimized its foreign policy by utilizing the Fukushima Wastewater Release Plan. Materials and methods. This article applies securitization ...
Added: September 20, 2026
Генезис и эволюция концепции «русской угрозы» в политическом мышлении Кореи
Grishina D., Soloviev A., Международная аналитика 2026 Т. 17 № 2 С. 10–29
This publication analyzes the historical and geopolitical context of the formation and development of the concept of the “Russian threat” – a public narrative about the territorial ambitions of the Russian Empire that became widespread in Northeast Asia in the late 19th and early 20th centuries. Using the example of the concept’s origins and transformation ...
Added: September 10, 2026
Обеспечение занятости в условиях гибридных правовых режимов: компаративистский и сравнительно-исторический аспекты
Чуча С. Ю., Томашевский К. Л., Гасанов З. У. et al., В кн.: Обеспечение занятости, производительного труда и социальная защита в условиях гибридных правовых режимов: междисциплинарный подход.: Институт государства и права РАН, 2026. Гл. 2.6 С. 177–294.
Added: August 26, 2026
Доктрина Монро 2.0 vs «Сообщество единой судьбы» в Латинской Америке
Борзова А. Ю., Volosyuk O. V., Kozylov I., Контуры глобальных трансформаций: политика, экономика, право 2026 Т. 19 № 1 С. 120–143
This article analyzes the transformation of Latin America’s geopolitical landscape between 2001 and 2026 and the evolution of U.S.-China competition in the region. The study seeks to determine how China’s gradual expansion in trade, investment, infrastructure, energy, digital technologies, and institutional dialogue has changed the parameters of traditional U.S. influence in the Western Hemisphere. Using ...
Added: August 22, 2026
Japan’s Soft Power Policy in Africa: A Comparative Analysis with China
Zelenev E., Korobochkina A., Russian Japanology Review 2026 Vol. 9 No. 1 P. 71–100
This article conducts a comparative historical analysis of the soft power strategies employed by Japan and China in Africa, emphasizing the utilization of cultural, educational, and economic instruments to augment their international influence. Moving away from the traditional post-1990s perspective, this paper introduces an enhanced form of the timeline approach in order to examine the development process of their soft ...
Added: August 12, 2026
Kulachinskaya, A., Sari, M., Bencsik, A., Dvořáková, Z., Kuchumov, A. (eds) Digital Transformation: What Kind of Smart Life do we have today?. Lecture Notes in Networks and Systems, vol 1895.
Switzerland: Springer Publishing Company, 2026.
Added: July 3, 2026
Аналоги GitHub из Китая … и их готовность к международному участию
Silakov D., Системный администратор 2026 № 1-2 С. 46–51
События последних лет показали, что подобно многим другим сферам международного сотрудничества, разработка свободного ПО подвержена влиянию политических веяний. Доступность кода тех или иных открытых проектов, не говоря уже о возможности участия в их разработке, может в одно мгновение оказаться под вопросом. Как обезопасить себя от подобных сценариев на уровне государства и при этом не замкнуться ...
Added: March 17, 2026
Effect of target firms’ ESG rating on bid premiums in M&A deals
Ndubuisi Ezenwa, Grigorieva S., SN Business & Economics 2025 Vol. 5 Article 210
Факторы окружающей среды, социального развития и корпоративного управления (ESG) трансформируют ландшафт слияний и поглощений (M&A), однако какие из них действительно создают стоимость сделки? По мере того как вопросы устойчивого развития приобретают глобальное значение, влияние ESG-рейтингов на сделки M&A, в частности на размер премии в сделках, остается областью, представляющей значительный академический и практический интерес. Данное исследование, ...
Added: March 15, 2026
Цифровая зрелость государственного управления в России: теория, методология, практика оценки
Styrin E. M., Ataeva A., Жатикова Д. В., М.: Издательский дом НИУ ВШЭ, 2025.
This monograph is dedicated to the study of the theoretical, methodological and institutional foundations for the formation and assessment of digital maturity in public administration in Russia. The central focus of the analysis is the concept of digital maturity as a key indicator of the effectiveness of digital transformation of government bodies at both the ...
Added: February 28, 2026
Макрополитическая идентичность жителей Тайваня в дискурсе политических элит демократической прогрессивной партии в период президенства Цай Инвэнь
Алексеев Д. О., Вестник Пермского университета. Серия: Политология 2025 Т. 19 № 4 С. 5–14
This article examines the discourse of political elites within Taiwan's Democratic Progressive Party (DPP) during Tsai Ing-wen's two presidential terms (2016–2024) to explore how and under what influence the model of macropolitical identity of Taiwan's residents evolved. Transcripts of speeches by senior DPP leaders during the period under review were used for the analysis, which ...
Added: February 20, 2026
Russia, China and India Partnership in the Arctic: Prospects and Opportunities for Cooperation
Strelnikova I., India Quarterly 2026 Vol. 82 No. 1 P. 45–63
The melting polar environment has amplified the strategic significance of the Arctic, transforming it into a theatre for both resource extraction and great power competition. Russia, India and China are increasingly seeking strategic partnerships and economic opportunities within this region. This article explores the evolving cooperation dynamics, opportunities and challenges for these three nations in ...
Added: February 7, 2026
Constructing China's image in the British media during international crises: a case study of The Times newspaper since February 2022
Yin Z., Вестник Пермского университета. Серия: Политология 2025 Vol. 19 No. 2 P. 130–142
International society has noted a series of interlinked events that have implications for the construction of national representations within media discourse. This study probes how The Times represented China's image during global crises, with special focus on the period after Russia initiated its special military operation on February 24, 2022. Although this provides key context, ...
Added: January 20, 2026
Китайский язык: второй иностранный язык: 5-й класс: учебник (6-е переработанное )
Sizova A., Чень Ф., Чжу Ч. et al., М.: Просвещение, 2023.
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 14, 2026
Особенности реализации инициативы «Один пояс, один путь» в Африке: феномен «маленьких, но красивых» проектов в сфере ИКТ
Yankova A., Проблемы Дальнего Востока 2025 № 4 С. 91–105
The article is devoted to the analysis of "small but beautiful" ICT projects implemented by China in African countries as part of the Digital Silk Road initiative and the broader "One Belt, One Road" strategy. This format involves less investment, higher standards, a simplified launch procedure, and mandatory social returns — unlike China's larger-scale digital ...
Added: December 8, 2025
Building a Business Ecosystem: Deriving a Framework and Testing It with Case Studies
Ivashkovskaya I., Ivaninskiy I., Journal of Corporate Finance Research 2025 Vol. 19 No. 3 P. 55–67
Ecosystem-based business models have received significant attention and praise in both business and research literature. Endeavours in building ecosystems sometimes prove successful, with firms transitioning to ecosystems enjoying valuation multiples significantly higher than their conventional peers. In practice, this entails firms expanding beyond their core offerings, such as a bank venturing into e-commerce. However, despite ...
Added: November 26, 2025
Higher Education Institutions in the Digital Economy Era: Digital Transformation of Higher Education
Biryuk D., Gaudeamus Igitur 2020 No. 1 P. 53–55
A trend in the modern world is the process of digitalization, which affects many areas of society. The process of digitalization has replaced informatization and computerization. This process is based primarily on the digital representation of information, which leads to such positive consequences as improving the efficiency of processes and improving the quality of life ...
Added: October 14, 2025
Determinants of China’s GDP Growth: An Empirical Analysis of Macroeconomic Variables
I. Ali, Jonas A., Управленческие науки 2025 Vol. 15 No. 1 P. 20–35
This study examines the impact of foreign direct investment (FDI), trade, and various macroeconomic factors on GDPgrowth in China over the period 1982–2022. By Employing the Autoregressive Distributed Lag (ARDL) model, theresearch investigates the dynamic interplay between GDP growth and fifteen independent variables, including FDI, exports, trade, total debt, and real interest rates. The Augmented ...
Added: October 4, 2025
Investment Attractiveness of Green Bonds: The Impact of Issuer Sector and Region
Egorova A., Karminsky A. M., Lobov G., Procedia Computer Science 2025 Vol. 266 P. 745–752
This paper investigates the investment attractiveness of green bonds by examining the influence of issuer-specific regional and sectoral characteristics on bond yields. Using a cross-sectional dataset of 1,502 green bond issues from 44 countries, sourced from the Cbonds database as of March 2025, the study applies a multivariate OLS regression framework. The analysis incorporates macroeconomic ...
Added: August 18, 2025
Digital Transformation in Governance and Society: 7th International Conference, DTGS 2024, St Petersburg, Russia, June 24–26, 2024, Revised Selected Papers
Springer, 2025.
This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, ...
Added: August 8, 2025
Специфика восточных переговоров как инструмент межкультурного бизнес-сотрудничества
Федоровский А. О., Язык. Культура. Образование 2024 № 9 С. 45–49
The article discusses the specifics of cooperation with representatives of Oriental culture. Interest in Asian countries has recently increased due to the current geopolitical situation. The socio-economic characteristics of such countries form a completely different picture of the implementation of negotiation communication, the understanding of which is of particular importance. ...
Added: July 10, 2025
Оценка влияния цифрового рубля на депозиты коммерческих банков России
Pastukhov E., Grishunin S., Финансовый журнал 2025 Т. 17 № 3 С. 126–140
The purpose of this article is to present a model for assessing the impact of the implementation of the digital ruble project on commercial banks’ deposits in the Russian financial market. The relevance of this research is due to the rapid growth of market capitalization of central banks’ digital currencies in both international and Russian ...
Added: June 30, 2025
Creation Of A Platform For Issuing Digital Financial Assets: Income, Costs And Risks
Pastukhov E., Grishunin S., , in: Procedia Computer Science, Volume 242: 11th International Conference on Information Technology and Quantitative Management (ITQM 2024).: ScienceDirect, 2024. Ch. 9 P. 65–72.
Today, one of the main technological challenges of the financial market is digitalization. Allied Research estimates that global investment in financial technology will amount to $150 billion in 2023, and the market is expected to grow to nearly $700 billion by 2030. The transfer of existing traditional financial objects is one of the key factors ...
Added: June 14, 2025
  • About
  • About
  • Key Figures & Facts
  • Sustainability at HSE University
  • Faculties & Departments
  • International Partnerships
  • Faculty & Staff
  • HSE Buildings
  • HSE University for Persons with Disabilities
  • Public Enquiries
  • Studies
  • Admissions
  • Programme Catalogue
  • Undergraduate
  • Graduate
  • Exchange Programmes
  • Summer University
  • Summer Schools
  • Semester in Moscow
  • Business Internship
  • Research
  • International Laboratories
  • Research Centres
  • Research Projects
  • Monitoring Studies
  • Conferences & Seminars
  • Academic Jobs
  • Yasin (April) International Academic Conference on Economic and Social Development
  • Media & Resources
  • Publications by staff
  • HSE Journals
  • Publishing House
  • iq.hse.ru: commentary by HSE experts
  • Library
  • Economic & Social Data Archive
  • Video
  • HSE Repository of Socio-Economic Information
  • HSE1993–2026
  • Contacts
  • Copyright
  • Privacy Policy
  • Site Map
Edit