Peer effects on ESG performance of resource-based enterprises: based on vertical and horizontal networks

This paper empirically examines the existence and influence mechanisms of peer effects on ESG (Environmental, Social, and Governance) performance under vertical and horizontal networks, using a sample of Chinese A-share listed resource-based enterprises from 2012 to 2023. The study finds that under the interactive effects of both vertical and horizontal networks, there is a significant peer effect in enterprises’ ESG outcomes. Moreover, this effect primarily influences a focal enterprise through “end-treatment” and “front-prevention”. Further research reveals that due to differences in improvement motivations, supply chain discourse power, and driving networks, the peer effect in ESG performance exhibits heterogeneity. This paper provides theoretical and empirical support for enterprises to enhance their ESG performance within complex supply chain networks, which is of great significance for promoting sustainable development of firms.