Previous research ignored the characteristics of environmental, social, and governance (ESG). ESG is soft information. Geographical proximity is important for external stakeholders to monitor firms' soft information. This study examines the impact of customer geographic proximity (CGP) on firms' ESG performance. We hand-collect data on the geographical distance of 29,111 pairs of Chinese A-share listed companies and their top-five customers from 2009 to 2022. First, we find that CGP promotes firms' ESG performance. The results still hold after considering the exogenous influence of the introduction of high-speed rail on CGP. Second, cross-sectional analysis shows that CGP exerts a more pronounced influence on firms with severe information asymmetry. Third, impact channel tests indicate that CGP promotes firms' ESG performance by increasing firms' cash flows. Fourth, the impact of CGP is more obvious when customers have stronger risk management motivation. Collectively, this study provides new insights into factors affecting firms' ESG performance.
This study examined psychometric properties of a Malaysian-language Sport Anxiety Scale-2 (SAS-2) in three separate studies. Study 1 examined the criterion validity and internal consistency of SAS-2 among 119 developmental hockey players. Measures of trait anxiety and mood states along with digit vigilance, choice reaction time, and depth perception tests were administered. Regression analysis revealed that somatic anxiety and concentration disruption were significantly associated with sustained attention. Worry was significantly associated with depth perception but not sustained attention. Pearson correlation coefficients also revealed significant relationships between SAS-2 subscales and negative mood state dimensions. Study 2 examined the convergent and discriminant validity of SAS-2 by correlating it with state anxiety measured by the CSAI-2R. Significant positive relationships were obtained between SAS-2 subscales and somatic and cognitive state anxiety. Conversely, state self-confidence was negatively related to SAS-2 subscales. In addition, significant differences were observed between men and women in somatic anxiety. Study 3 examined the factorial validity of the Malaysian SAS-2 using confirmatory factor analysis in a sample of 539 young athletes. Confirmatory factor analysis results provided strong support for the SAS-2 factor structure. Path loadings exceeding 0.5 indicated convergent validity among the subscales, and low to moderate subscale intercorrelations provided evidence of discriminant validity. Overall, the results supported the criterion and construct validity of this Malaysian-language SAS-2 instrument.