Empowering ESG Success: The Role of Data Marketization in Corporate Performance

Wang, Junkai (2026) Empowering ESG Success: The Role of Data Marketization in Corporate Performance. Working Paper 42. Centre for Accountancy Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University. (Submitted)

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Abstract

This study examines the impact of data factor marketization on the ESG performance of companies listed in the Shanghai and Shenzhen A-share markets in China. An empirical analysis of data from 2009 to 2022 reveals that the marketization of data factors significantly enhances corporate ESG performance, with more pronounced effects observed in heavily polluting and non-high-tech enterprises. The positive influence of data factor marketization on ESG performance is mediated through mechanisms such as promoting digital transformation, alleviating financing constraints, and reducing agency costs. Furthermore, the research uncovers the heterogeneous effects of data factor marketization across different regions and corporate characteristics, with companies in regions with higher marketization levels and the eastern part of China benefiting more significantly. This study fills a gap in the literature regarding the relationship between data factor marketization and corporate ESG performance, constructing a comprehensive analytical framework that extends the application boundaries of ESG theory in the big data era. It provides theoretical and empirical support for government policy-making and corporate strategic planning.

Item Type:	Monograph (Working Paper)
Identification Number:	42
Dates:	Date Event 30 April 2026 Submitted
Uncontrolled Keywords:	Data factor marketization, Corporate ESG performance, Digital transformation, Financing constraints, Agency costs
Subjects:	CAH15 - social sciences > CAH15-02 - economics > CAH15-02-01 - economics
Divisions:	Business School > Accountancy, Finance and Economics Business School > Accountancy, Finance and Economics > Centre for Accountancy Finance and Economics
Depositing User:	Gemma Tonks
Date Deposited:	10 Sep 2026 12:35
Last Modified:	10 Sep 2026 12:35
URI:	https://www.open-access.bcu.ac.uk/id/eprint/17235

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