ESG-Driven Corporate Value Creation under the Paradigm of Ecological Civilization:Evidence from the Shareholder,Industrial Chain and Consumer Channels

The basis of green development is the sustainable development of enterprises,and the core of enterprises'sustainable development is the transformation of business models through the reconstruction of corporate value.Under the paradigm of ecological civilization,the concept of ESG(Environmental,Social and Corporate Governance)is becoming an important force behind corporate value reconstruction,guiding enterprises to innovate business models in the direction of sustainability.Based on the idea of the dimensions of the"shareholder channel-industrial chain channel-consumer channel,"this paper builds up a theoretical framework to interpret how ESG creates corporate value through the shareholder channel,the industrial chain channel,and the consumer channel,and provides empirical tests.We find that:first,the sustainable transformation of shareholder preferences is the center for ESG's creation of corporate value;second,ESG performance helps reduce the transaction costs between upstream and downstream enterprises in industrial chains;and third,differences in ESG products create differentiated value for consumers.This study reveals the transformation of the direction and mode of corporate value creation in the course of green transition and provides micro-evidence of enterprises'transition toward ESG goals in the Chinese context.

Environmental,Social,Governance(ESG)Influence on Company Value Registered IDXESGL 2020-2022

Global warming has increased people’s awareness of environmental protection and social responsibility,which is also reflected in the way they invest,with environmental,social and corporate governance aspects starting to receive more attention.The purpose of this study is to investigate how environmental,social,and governance(ESG)performance,as measured by ESG risk assessment,affects corporate value.The population of this study consists of his 90 companies registered in his IDXESGL using a sampling method based on purposive sampling,and the total sample includes his 60 companies.The data analysis method used is a simple linear regression test.The findings of this study show that ESG risk assessment influences corporate value.

Social Values and Ethics for Communicating the Corporate Identity

The on-going changes--as both opportunities and threats--push companies to look for competitive advantages and differentiation from competitors by making the best use of certain strategic levers; they are mainly represented by intangible resources （as harder to imitate） such as trade marks, brands, intellectual properties, ethics, and social values. Values in particular become more relevant if taking into consideration the company as a set of ＂human beings＂; companies must be more integrated with its reference society and need to communicate with both external and internal audience covering different expectations, needs and cultures. In this sense, the traditional communication may be now defined as ＂integrated communication＂. Accordingly, ethical principles and corporate social responsibility values are fundamental drivers of this integrated communication policies and are more and more reflected into the company＇s mission. The aim of the present paper is to analyze--at both a quality and an empirical level--the effectiveness of ethics and corporate social responsibility values as drivers for integrated communication. A sample of Italian listed food and beverage companies has been considered to establish if and how ethical principles and sharing corporate values have been built and implemented during the last years; the expected results are to demonstrate the link between literature and empirical evidence concerning effectiveness of integrated communication and its impact on company＇s financial results and--in particular--on value creation for shareholders. Eventually, the study results show that there might be huge benefits in using an integrated communication; talking to people in a coherent way and sharing values constantly make firms achieve best results.

Correction of Corporation Value Assessment Model Based on Corporate Social Responsibility

The performance of corporate social responsibility is conducive to the con- tinuous improvement of their profitability, and promotes the upgrading of corporation value. However, it is difficult to confirm, calculate and check the costs and benefits brought by the implementation of corporate social responsibility under the current ac- counting theory system, so it is difficult to estimate whether the fulfillment of corpo- rate social responsibility has any effects on the corporation value assessment. Therefore, based on corporate social responsibility, the correction mode of corpora- tion value assessment is put forward.

A New Method to Evaluate the Corporation——Experimental Research on the Example of NetEase Company

Most of the Internet or e-commerce corporations have few earnings or even none. The traditional corporation valuation methods don not work well when encountering these types of corporations. Just in these backgrounds, a new method called CVBC model is brought forward to evaluate these types of corporations in our article, which is based on the customer lifetime value. In essence, it extends the concept of customer lifetime value and combined with the traditional financial methods, then creates a new valuation method. It can work well to the corporations, which have been said before. The principle, mathematical model of the method and the effect of the practical application are discussed in detail.

Digital Trade Rules and the Position of Chinese Enterprises in the Global Value Chain

Digital trade rules and higher positions of enterprises in the global value chain(GVC)are both important topics in the context of high-quality economic development.This paper refers to the data of RTA digital trade rules concluded by China in the TAPED database in 2000-2014 and the matched data in the WIOD database,the China Customs Import and Export Database and the China Industrial Enterprise Database to investigate the effects of digital trade rules on Chinese enterprises as to their ascending GVC positions.It finds that signing the RTA digital trade rules can steadily and significantly promote the position ascendance;compared with the digitalization rules on trading objects,signing the digitalization rules on trade modes produces greater effects of driving up the positions,which are realized mainly via the three channels of advancing cross-border flow of R&D factors,promoting corporate digital transformation,and improving professional management.Digital trade rules that are horizontally broader and vertically deeper are in greater favor of Chinese enterprises for ascending in the global value chain,which is especially evident among those in digital industry and processing trade.During the negotiations of digital trade rules,it's imperative to pay close attention to the rules on e-commerce cooperation,awareness of e-commerce importance,intellectual property protection,attempts in big data-related trade in goods,and cross-border data flow,so as to secure the core interests of Chinese enterprises in gaining higher positions.This paper offers great policy implications as to how to sign digital trade rules by China in the future and how to select partners in greater support for Chinese enterprises to ascend to the middle and high end of the global value chain.