Diversified certification and ESG performance: the double-edged roles of media attention and internationalisation

Why company badges and seals matter

When we see a product marked with quality seals or eco labels, we tend to assume the company behind it is well run and responsible. This study asks whether collecting many different certifications really helps smaller public firms in China become more sustainable, or whether those badges sometimes create new risks once the media and global markets start paying closer attention.

Different kinds of stamps, not just more of them

The authors look beyond simply counting how many certificates a company has. Instead, they break certification into five everyday ideas: how deeply it shapes daily routines, how widely it covers social and environmental topics, how well different certificates work together, how often firms upgrade their systems, and how long they keep certifications in place. They argue that this mix works like a bundle of tools that can either support or weaken a company’s Environmental, Social, and Governance (ESG) performance, depending on how it is arranged.

What the numbers say about Chinese smaller firms

Using data from 772 small and medium listed firms in China between 2014 and 2023, the study finds that diversified certification is, overall, linked with better ESG scores. Having certificates that reach deeply into core processes and mesh well with each other is especially helpful. Regularly upgrading certifications also tends to support stronger sustainability, once other factors are taken into account. In contrast, just adding more types of badges without a clear plan, or keeping the same certificates unchanged for many years, can waste effort and even drag down ESG results.

When media spotlight helps and when it hurts

Media coverage turns out to play a double role. On one side, news attention can spread positive signals from solid certification practices, helping firms earn trust and recognition for their ESG efforts. On the other, the media in China often focus on problems and scandals. The study shows that companies with more media attention usually receive lower ESG ratings, suggesting that journalists are more likely to uncover gaps between promises and practice than to celebrate quiet success. In this way, media attention partly explains how certification affects ESG performance, sometimes amplifying benefits and sometimes exposing weak spots.

Going abroad raises both the bar and the stakes

Many of the firms in the study sell to foreign markets, where rules, customs, and public expectations are tougher and more varied. The analysis shows that as companies become more international, the positive impact of their certification bundle on ESG scores grows stronger. International customers, regulators, and investors reward firms that can show consistent standards across countries. At the same time, the link between certification and media attention becomes more complicated. For firms just starting to export, certifications help calm worries and reduce bad press. But once a firm becomes highly international, any mismatch between its badges and its real behavior is more likely to be spotted and criticized around the world.

What this means for business and society

For everyday observers, the study suggests that a wall of logos on a company’s website is not always a simple sign of virtue. Certifications can improve sustainability when they are used to guide real changes inside the firm and kept in tune with rising expectations at home and abroad. Yet these same badges can become liabilities when they are shallow or outdated, especially under the glare of national and global media. For smaller Chinese firms seeking to compete internationally, the message is to design certification portfolios carefully, align them with genuine environmental and social improvements, and treat the media not only as a loudspeaker but also as a watchdog whose questions must be taken seriously.

Citation: Zhao, W., Zhang, K. & Shin, N. Diversified certification and ESG performance: the double-edged roles of media attention and internationalisation. Humanit Soc Sci Commun 13, 673 (2026). https://doi.org/10.1057/s41599-026-06995-6

Keywords: ESG performance, corporate certification, media attention, internationalisation, Chinese SMEs