Crowding in or crowding out? Executive environmental attention and ESG performance of mining listed companies: Crowding in or crowding out? Executive environmental attention and ESG performance of mining listed companies: C. Wang et al.

As a high carbon-emission and high environmental-impact industry, the implementation of ESG concepts in mining industry is widely recognized as a crucial prerequisite for the sustainable development of mining companies. We employ micro-level data from Chinese A-share mining listed companies (MLCs) based on the attention-based view and upper echelons theory. We utilize text analysis to measure executive environmental attention, and empirically examine the impact of executive environmental attention on MLCs' ESG performance. We cautiously draw the following conclusions: (1) Although executive environmental attention does not significantly affect MLCs' ESG performance, it significantly improves environmental performance. This conclusion still holds after a series of robustness tests. (2) Executive environmental background significantly enhances the effect of executive environmental attention on MLCs' environmental performance. (3) Higher government subsidies strengthen the impact of executive environmental attention on environmental performance. Interestingly, gender diversity does not augment the influence of executive environmental attention on environmental performance. (4) Also, this paper identifies the boundary where executive environmental attention crowds out MLCs' social performance. Executive environmental attention significantly crowds out MLCs' social performance when MLCs receive lower government subsidies or when MLCs have female executives. This study can offer guidance to MLCs on how to allocate resources in the realm of ESG. [ABSTRACT FROM AUTHOR]