The Impact of Corporate Biodiversity Information Disclosure on China Institutional Investors’ CSR Investment Willingness: The Roles of Intergenerational Responsibility and Environmental Risk Management

The increasing recognition of biodiversity loss as a critical environmental and financial risk has heightened calls for greater emphasis on corporate information disclosures. However, limited understanding remains as to how corporate biodiversity information disclosure affects institutional investors’ willingness to engage in corporate social responsibility (CSR) investments. To address this gap, this study utilizes a sample of 426 valid data points from institutional investors in China and employs SEM for empirical analysis. The results indicate that (1) corporate biodiversity information disclosure (CB) positively influences institutional investors’ CSR investment willingness; (2) CB fosters the development of institutional investors’ intergenerational responsibility, which, in turn, enhances their CSR investment willingness; (3) institutional investors’ intergenerational responsibility significantly mediates the relationship between CB and their CSR investment willingness; and (4) corporate environmental risk management positive moderates the relationship between CB and institutional investors’ intergenerational responsibility. Theoretically, this study contributes to the CSR literature by providing insights into the interconnections between biodiversity disclosure, intergenerational responsibility, and environmental risk management from a risk-oriented perspective. Practically, it underscores the importance of strategically utilizing biodiversity disclosure and environmental risk management to attract responsible institutional investments, offering valuable guidance for corporate managers, policymakers, and investors, particularly in emerging markets.