内部控制视角下ESG表现对企业价值的影响

Influence of ESG Performance and Enterprise Value from the Perspective of Internal Control

在绿色生态发展背景下,ESG表现的兴起对企业价值产生了一定的作用,而企业的内部控制体系又是企业提升自身价值的重要途径。以2017—2021年沪深A股上市公司为研究对象,运用实证分析的方法,对企业ESG表现与企业价值的作用机理进行了研究,并从内部控制管理的视角来研究ESG表现对公司价值的作用途径。研究结果表明:ESG表现对企业价值有积极的促进作用,内部控制在ESG和企业价值之间起到了正向调节作用。ESG理念强调的企业长期发展能力与企业内部控制的可持续发展目标具有一致性,将二者有机联系起来,能促进企业ESG与内部控制体系的提档升级。

ESG performance,to some extent,influences the enterprise value against the backdrop of green development.And the internal control system plays an essential role in promoting the enterprise value.The present study takes the A-share listed companies in Shanghai and Shenzhen from 2017 to 2021 as the research object,uses the method of empirical analysis to study the mechanism of ESG performance on enterprise value,and studies the effect of ESG performance on enterprise value from the perspective of internal control management.The results show that the performance of ESG has a positive promoting effect on enterprise value,and internal control has a positive moderating effect on the relationship between ESG and enterprise value.The concept of ESG emphasizes the consistency between the long-term development ability of the enterprise and the sustainable development goal of the enterprise s internal control,by linking the two organically can help promote the upgrading of the enterprise s internal control system.