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China's manufacturing sector occupies an important position in the international market and is at a critical stage of development. Manufacturing companies can use ESG to achieve their green transformation and sustainable development. It is important to study the impact of ESG performance on the export of manufacturing companies. This paper examines the impact of ESG performance on the export trade of manufacturing companies using a sample of Chinese A-share listed companies in Shanghai and Shenzhen during the period of 2012-2021. It is found that ESG performance has a significant positive impact on the export trade of manufacturing companies. It is further found that ESG performance can help manufacturing firms export through two paths: alleviating financing constraints and reducing operating costs; the positive impact of ESG performance on exports is more significant among non-state-owned firms and firms from eastern China. This study has important practical significance for the development of import and export enterprises.
Qingyang Li (Thu,) studied this question.