Green transformation and ESG rating disagreement: threshold effect analysis based on green investment and green total factor productivity

We collect ESG scores from six widely recognized ESG rating agencies around the world and empirically test the impact of enterprises’ green transformation on ESG rating disagreement using A-share listed companies in China from 2014 to 2023 as the sample. Then, we exam the threshold effects of green investment and green total factor productivity. The results show that enterprises’ green transformation can significantly reduce ESG rating disagreement, especially in the environment. Green investment and green total factor productivity have negative and positive threshold effects, respectively.