【明理講堂2024年第61期】
報告題目： ESG Performance and Top Executive Promotion
時間：10月16日下午2：30-4：00
地點：主樓317
報告人：李東輝教授
報告人簡介：
李東輝，2001年獲得澳大利亞新南威爾士大學金融學博士學位。2001年至2015年在該校工作了15年，現任深圳大學經濟學院會計與金融學教授。
他的研究重點是公司財務和資本市場。他的文章發(fā)表在頂級會計和金融期刊論文：Journal of Finance; Journal of International Business Studies, and Journal of Financial and Quantitative Analysis. 此外，他的文章出現在以下國際知名的會計和金融期刊上： Journal of Corporate Finance (8篇); Journal of Banking and Finance (5篇)。他還擔任許多期刊的審稿人，包括：Journal of Banking and Finance, and Journal of Risk and Insurance, Financial Management, Accounting and Finance.
他擔任以下學術期刊的客座編輯：Pacific-Basin Finance Journal, British Accounting Review, Accounting and Finance。此外他還主持過澳大利亞國家研究基金和中國國家自科基金（兩次）。
他是全球政策研究所和智囊團高度引用的學者（例如，世界銀行7次；國際貨幣基金組織3次；經合組織2次；德意志聯(lián)邦銀行1次，等）。他被“愛思唯爾，Scopus”提名為2021年和2023年“高被引中國學者”。他的研究政策建議已被“中國國家政府”接受（5次）。
報告內容簡介：
Based on a sample of the listed 1,456 Chinese State-owned Enterprises (SOEs) with 33,242 firm-year observations spanning the years 2010 to 2023, by manually tracking top executives’ (Chairmen and CEOs) subsequent employment records, we have found that their past ESG performance facilitates their future promotion (e.g., political promotion, or working in a larger firm, or having a higher position or higher pay). It has also been documented that there is a reduced pay for both financial and ESG performance sensitivity for executives with political promotion, and SOE’s better financial performance can strengthen the positive impact of ESG performance on top executive promotions. Furthermore, we conduct three moderating analysis and find that external attention by financial analysts can attenuate this impact except for political promotion, while corruption governance can also attenuate this impact especially for political promotion. Meanwhile, provincial environmental governance plays a positive moderating role. After a full range of heterogeneity analysis, interesting differential results enrich our findings. Overall, our results suggest that SOEs’ ESG performance enhances top executives’ labor market potentials.
