ESG Quality, Attention, and Enterprise Value: An Empirical Analysis of Chinese A-Share Listed Companies
Journal Title: Opportunities and Challenges in Sustainability - Year 2024, Vol 3, Issue 3
Abstract
With the growing prominence of environmental issues, sustainable development has become a global consensus. Environmental, social, and governance (ESG) factors have emerged as key focal points for companies and their stakeholders. Using a sample of Chinese A-share listed companies from 2011 to 2022, a comprehensive indicator of attention was constructed from a stakeholder perspective to examine the interactions and mechanisms among ESG quality, attention, and enterprise value. Findings indicate that enhanced ESG performance significantly contributes to increased enterprise value, with attention serving as a critical mediating factor in the relationship between ESG performance and enterprise value. Furthermore, notable differences were observed in this process based on firm ownership, with ESG performance exerting a more substantial impact on enterprise value within state-owned enterprises. These insights offer valuable perspectives for companies on how to leverage improved ESG performance to enhance enterprise value.
Authors and Affiliations
Jiaxin Wei, Yuanhua Yang
Keywords
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- EP ID EP752311
- DOI https://doi.org/10.56578/ocs030305
- Views 28
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