Sustainable Development: How ESG Score Shapes Corporate Risk‐Taking in Politically Linked Firms

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Corporations implementing ESG practices may lower corporate risk, particularly in politically connected contexts.
Findings indicate that ESG scores can significantly impact corporate risk management and decision-making behavior.
Analysis involved OLS regression and GMM to address endogeneity, emphasizing the study's robust methodological approach.
These insights call for improved ESG regulations and governance transparency in emerging markets with strong political ties.

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Analysis shows that ESG implementation influences risk-taking in politically connected firms, suggesting firms enhance governance.

Joni et al. (2025) studied this question.

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