Recently, Xiao Zisheng, an undergraduate student from the Innovative Pioneer Class majoring in International Economics and Trade, published a paper titled “Influence of ESG on corporate debt default risk: An analysis of the dual risk scenarios” with his supervisor Shang Yuping (other co-authors: Asma Nasim, Xin Zhao). The article was published in the Journal of International Money and Finance.

This study focuses on the causal relationship between ESG performance and corporate debt default risk. Using data from A-share listed companies in China, it examines the impact and underlying mechanisms of ESG performance on corporate debt default risk from the perspectives of corporate costs and profitability.

Founded in 1982, the Journal of International Money and Finance specializes in international economics and its interdisciplinary fields. It enjoys a strong academic reputation and is recognized as a high-quality journal ranked at ABS three-star level.