인천대학교 중국학술원 박영수 상임연구원

A paper by Park Young-soo, a permanent researcher at the Academy of Chinese Studies at Incheon National University, has been published in an internationally prominent journal. The Asia Pacific Business Review (APBR), in which the paper is published, is an academic journal published by Routledge, a world-renowned academic publisher, and is an SSCI-class academic journal dealing with business research in the Asia-Pacific region.

The paper, which Park Young-soo, a senior researcher, participated as the first author, empirically analyzed all private companies listed from 2013 to 2021 that the political linkage of CEOs of private Chinese companies and the ratio of state-owned stocks negatively control the positive impact of a company's ESG performance on financial performance and corporate value, respectively.

This study showed that corporate ESG activities can benefit companies if they effectively meet the needs of stakeholders, but that the government's external intervention can distort ESG performance. In particular, it was noted that the management autonomy of private companies with limited independence is bound to be limited, and this trend has become more prominent since Xi Jinping took power.

Park Young-soo, a senior researcher, pointed out that "the government's intervention in private companies has intensified since Xi Jinping took power," and said, "We will study the government's control mechanism for private companies in more depth in the future."