Organizational Resilience in China’s Real Estate Industry: The Roles of ESG, Innovation Performance, and Policy Support
Panel data from 80 Chinese A-share real-estate firms over 2015–2024 (800 firm-years) linked ESG positively with accounting recovery measured by ROE but negatively with market recovery measured by Tobin’s Q in baseline models. Additional analysis suggested a U-shape, while tax rebates had no significant direct baseline effect.