ESG投资对企业绩效的影响文献综述

Literature Review on the Impact of ESG Investment on Corporate Performance

随着经济水平的日益提高,人们逐渐意识到生态环境的重要性,ESG理念应运而生。本文通过阅读文献,分析ESG对企业财务绩效的影响,发现市面上学者认为ESG投资对企业财务绩效的影响分为三大类,分别是促进效应、抑制效应以及无关论,大部分学者认为ESG投资对财务绩效的影响是具有促进效应的。接着分析了ESG投资对企业非财务绩效的影响,发现学者大多将非财务绩效分为与利益相关者有关以及分为与环境、社会、公司三方面绩效有关。通过对ESG投资对企业绩效影响的文献综述,发现我国企业相比欧洲国家在践行ESG投资方面还不够成熟,并引用归纳文献中对我国ESG存在问题提出的建议,希望可以给到我国企业一些发展帮助。

With the increasing economic level,people gradually realize the importance of the ecological environment,and the ESG concept has emerged.This article analyzes the impact of ESG on corporate financial performance by reading literature and finds that scholars on the market believe that the impact of ESG investment on corporate financial performance can be divided into three categories:promoting effect,inhibiting effect,and irrelevant theory.Most scholars believe that the impact of ESG investment on financial performance has a promoting effect.Continuing to analyze the impact of ESG investment on non-financial performance of enterprises,it was found that scholars mostly classify non-financial performance as related to stakeholders and as related to environmental,social,and corporate performance.By reviewing the literature on the impact of ESG investment on corporate performance,it is found that Chinese and European countries are not yet mature enough in practicing ESG investment.Therefore,suggestions in the references are cited to address the problems of ESG in China,hoping to provide some development assistance to Chinese enterprises.