The Conformity Effect of ESG Performance in Supply Chain Networks

This paper empirically examines the conformity effect of corporate ESG (Environmental, Social, and Governance) performance in the supply chain network based on non-financial, non-real estate listed companies in the Chinese capital market. The findings indicate that peer companies in the supply chain network significantly enhance the target company's ESG performance. Heterogeneity analysis further reveals that the ESG conformity effect is mainly present in manufacturing enterprises and within highly competitive industry samples.