Xiang, Cheng; Xin, Zhuoyao; Wang, Qian; Feng, Lixuan - 2023
We employ the Shanghai-Hong Kong Connect and the Shenzhen- Hong Kong Connect (hereafter, the Connects) as exogenous shocks to the liberalization of China’s A-share stock market and study how the Connects shape Chinese firms’ ESG policies. The staggered difference-in-differences (DiD)...