Entrepreneurship and Corporate ESG Performance—A Case Study of China’s A-Share Listed Companies

This paper examines the contemporary implications of entrepreneurship and utilizes panel data from Chinese A-share listed companies spanning 2011 to 2022. Based on the five aspects of Chinese entrepreneurship, namely “patriotism, courage to innovate, integrity and law-abiding, social responsibility, and international vision”, the findings suggest that fostering entrepreneurship enhances the environmental, social, and governance (ESG) performance of firms. Mechanism analysis indicates that green technology innovation, social performance enhancement, and governance capability optimization mediate this relationship. Furthermore, factors such as corporate market power, regional marketization processes, and advancements in artificial intelligence technology influence the link between entrepreneurship and ESG performance. Robust entrepreneurship equips firms to navigate environmental uncertainties, but entrepreneurship cannot improve corporate governance performance. This article elucidates the distinctive significance of entrepreneurship, expanding the institutional economics research perspective, offering practical insights for cultivating entrepreneurship and elucidating potential determinants of corporate ESG performance. This article also provides spiritual guidance for sustainable development.