Figure 1
A conceptual framework diagram illustrating the relationships between ESG factors, liquidity creation, bank risk-taking, and bank funding structure. The diagram starts with ESG (independent variable) on the left, which influences liquidity creation (mediator) through hypothesis H2. Liquidity creation then affects bank risk-taking (dependent variable) through hypothesis H3. Additionally, ESG directly influences bank risk-taking through hypothesis H1. Bank funding structure acts as a moderator, influencing the relationship between ESG and bank risk-taking through hypothesis H5. The diagram also includes references to stakeholder theory (Freeman, 1984) and resource-based view (Barney, 1991).Conceptual framework