| Issue |
SHS Web Conf.
Volume 169, 2023
4th International Symposium on Frontiers of Economics and Management Science (FEMS 2023)
|
|
|---|---|---|
| Article Number | 01058 | |
| Number of page(s) | 5 | |
| DOI | https://doi.org/10.1051/shsconf/202316901058 | |
| Published online | 29 May 2023 | |
ESG Ratings and Corporate Value
China Agricultural University, Beijing, P.R. China
* Corresponding author: 768793522@qq.com
ESG as a concept advocates companies to pay more attention to environmental friendliness, social responsibility and corporate governance in their development process. Companies can attract investment and enhance their competitiveness by developing ESG concepts. Based on the data of Chinese listed companies for five years from 2017 to 2021, relevant indicators are constructed, and regression analysis is conducted on them using static panel models to empirically investigate the impact of ESG performance on corporate value. Specifically, this study documents a significant positive relationship between ESG performance and corporate value. The results still largely hold after a robustness checks, including alterative measure of corporate value. This study contributes to the existing literature on the economic consequences of ESG and provides implications for both researchers, investors, and practitioners.
Key words: ESG Rating / Corporate Value / ESG Disclosure / Corporate Governance
© 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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