SHS Web Conf.
Volume 165, 2023The 2nd International Conference on Creative Industries and Knowledge Economy (CIKE 2023)
|Number of page(s)||4|
|Section||Creative Industry Development and Brand Management|
|Published online||03 May 2023|
Study on the impact of ESG performance on firm performance
School of Economics, Wuhan University of Technology. Wuhan, Hubei 430070, China
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In order to accelerate the achievement of the carbon peaking and carbon neutrality goals and to comply with the trend that China’s economic development is increasingly focused on quality, it is significant for enterprises to achieve sustainable development. Using a panel model, this paper empirically analyzes the relationship between firm performance and its ESG performance using listed companies in the Shanghai and Shenzhen A-share markets from 2012-2021 as a research sample, and discusses the differences according to the industries which the companies are in. The analysis results show that enterprise ESG performance has a significant positive impact on its firm performance, and the better the ESG performance of a company, the higher the firm performance. The heterogeneity analysis reveals that this significant positive relationship only exists in manufacturing firms, but not in non-manufacturing firms.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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