ESG信息披露对企业绩效的影响——以重污染企业为例

The Impact of ESG Information Disclosure on Firm Performance:A Case Study of Heavily Polluting Enterprises

在金融领域,ESG的概念如今被广泛提及,是目前国内外广泛使用的一种非财务绩效的企业评价指标与投资概念。采用实证研究的方法探究ESG信息披露对于企业绩效的影响,借此帮助企业更好地了解ESG信息披露的重要意义;同时,使得市场上的投资者理解ESG信息披露对于金融市场的影响,做出更好的投资决策。选取我国沪深A股重污染企业,通过实证分析对于ESG信息披露与企业绩效之间的关系进行检验,最终得出如下结论:重污染企业ESG信息披露会促进企业绩效的提升;不同产权性质下ESG信息披露对企业绩效的影响具有异质性;不同地区重污染企业ESG信息披露对企业绩效的影响具有异质性。

In the financial field,the concept of ESG is now widely mentioned as a non-financial performance enterprise evaluation index and investment concept widely used at home and abroad.This paper uses empirical research methods to explore the impact of ESG information disclosure on enterprise performance,so as to help enterprises better understand the significance of ESG information disclosure.At the same time,it enables investors in themarket to understand the impact of ESG information disclosure on the financial market and make better investment decisions.This paper selects China’s Shanghai and Shenzhen A-share heavily polluting enterprises to test the relationship between ESG information disclosure and corporate performance through empirical analysis,and finally draws the following conclusions:The disclosure of ESG information of heavy polluting enterprises will promote the improvement of corporate performance;The impact of ESG information disclosure on firm performance is heterogeneous under different property rights.The impact of ESG information disclosure of heavy polluting enterprises in different regions on corporate performance is heterogeneous.