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Yue Xiang

Yue Xiang is a PhD candidate in management (finance and accounting) at the University of Bath School of Management. His research interests include corporate finance and corporate governance, with a focus on product market competition, corporate ESG issues, mergers and acquisitions, and strategic alliances.
Antitrust and Competition

Market Competition Hurts Firm’s ESG Performance

Vesa Pursiainen
New research by Vesa Pursiainen, Hanwen Sun and Yue Xiang finds that competition hurts corporate incentives to fulfill environmental, social, and governance (ESG) goals. Firms facing more competitive pressure have worse ESG scores, in particular when the firms have short-term-oriented shareholders. However, firms located in areas that are more concerned about climate change appear more willing to sacrifice profits for better ESG performance.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.