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Peer firm’s ESG pressure, executives’ green perception and sustainable development- An empirical study from Chinese listed companies

Year: 2026

Type: article

Abstract: With escalating ecological challenges, green and sustainable development is imperative. Existing research has explored various factors influencing enterprise sustainable performance, yet the effect of peer competition remains understudied. This study uses 2010–2022 panel data of Chinese listed companies to empirically analyze how peer firms’ corporate environmental, social and governance (ESG) performance impacts focal firms’ sustainable development via executives’ green perception. Results show significant industry peer effects in sustainable development performance, with peer firms’ ESG performance enhancing these effects. Executives’ green perception drives peer effects, but its influence depends on the firm’ s strategic orientation. Profit-oriented firms see different moderating effects compared to growth-oriented ones. The study contributes by filling the research gap on the interaction between executives’ green awareness and inter-firm competition, and by revealing the relationship among corporate sustainable development, peer ESG performance, and strategic orientation. These findings offer practical guidance for promoting sustainable development.

Source: Sustainable Futures

DOI: 10.1016/j.sftr.2026.101734

Author: Chuqing Zhang

Institution: Beijing Language and Culture University

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $2,340

Funders: Natural Science Foundation of Beijing Municipality, Fundamental Research Funds for the Central Universities