ESG表现对企业财务绩效的影响研究——基于媒体关注视角

On the Impact of ESG Performance on Enterprise Financial Performance:Based on the Perspective of Media Attention

企业ESG表现通过何种方式或途径对企业财务绩效产生影响是现阶段我国碳达峰、碳中和背景下促进企业绿色转型的关键问题。选取了2015—2019年我国A股医药制造行业上市公司为样本,并引入媒体关注作为中介变量构建模型,探讨企业ESG表现、媒体关注以及企业财务绩效三者之间的关系。研究表明,企业ESG表现对企业财务绩效具有正向促进作用,且媒体关注发挥了中介作用。

The way through which ESG affected enterprises’ financial performance was the key issue to promote the green transformation of enterprises under the background of carbon peaking and carbon neutrality in China. This paper selected the listed companies in China’s A-share pharmaceutical manufacturing industry from 2015 to 2019 as a sample,and introduced media attention as a mediating variable to build a model to explore the relationship among ESG performance,media attention and enterprise financial performance. The research showed that ESG performance played a positive role in promoting enterprise financial performance,and media attention had intermediary effect.