Liu Baoping, Wei Haohao, Liu Jing
School of Business, Henan University, Kaifeng, Henan, People's Republic of China.
School of Economics, Henan University, Kaifeng, Henan, People's Republic of China.
PLoS One. 2025 May 28;20(5):e0324645. doi: 10.1371/journal.pone.0324645. eCollection 2025.
Enhancing corporate ESG (Environmental, Social, and Governance) performance is a critical issue garnering widespread attention across various sectors. This research examines the impact of executives with overseas backgrounds on corporate ESG performance, utilizing a two-way fixed-effects model with data from Chinese A-share listed companies in Shanghai and Shenzhen spanning from 2008 to 2022. The findings indicate that: (ⅰ) executives with overseas backgrounds positively influence corporate ESG performance, with this effect amplifying as the proportion of such executives within the executive team increases; (ⅱ)both internal and external pay gaps significantly positively moderate the relationship between overseas background executives and corporate ESG performance; (ⅲ) the influence of overseas executives on ESG performance is more pronounced in state-owned enterprises, large-scale firms, firms in the eastern region, and those in high-pollution industries. This study expands the understanding of factors affecting corporate ESG performance, offers empirical insights for listed companies aiming to enhance their ESG performance, and provides valuable implications for executive team construction, executive compensation strategies, government talent policies, and the pursuit of high-quality economic development.
提升企业的环境、社会和治理（ESG）绩效是一个在各个领域都备受广泛关注的关键问题。本研究利用2008年至2022年沪深A股上市公司的数据，采用双向固定效应模型，考察了具有海外背景的高管对企业ESG绩效的影响。研究结果表明：（ⅰ）具有海外背景的高管对企业ESG绩效有积极影响，且随着高管团队中此类高管比例的增加，这种影响会增强；（ⅱ）内部和外部薪酬差距均显著正向调节具有海外背景高管与企业ESG绩效之间的关系；（ⅲ）海外高管对ESG绩效的影响在国有企业、大型企业、东部地区企业以及高污染行业企业中更为显著。本研究拓展了对影响企业ESG绩效因素的理解，为旨在提升ESG绩效的上市公司提供了实证见解，并对高管团队建设、高管薪酬策略、政府人才政策以及高质量经济发展的追求具有重要启示意义。
