从责任到价值:ESG和长期企业价值
1School of Economics and Management, Beijing Jiaotong University, Beijing, China.
PloS one
|April 23, 2025
概括
环境,社会和治理 (ESG) 实践在中国显著提升了公司价值. 良好的ESG绩效可以提高现金流,降低成本,提高竞争力,推动企业的长期成功.
科学领域:
- 商业和经济学 商业和经济学
- 企业金融公司财务
- 可持续发展 可持续发展
背景情况:
- 在ESG和公司价值方面存在不一致的发现,特别是在新兴市场.
- 有限的研究涵盖了中国等过渡经济体的ESG实践和价值创造.
研究的目的:
- 分析ESG绩效与中国企业的长期价值之间的相关性.
- 研究勒纳指数在ESG与公司价值关系中的调解作用.
主要方法:
- 分析了中国A股市场 (2017-2022) 4185家上市公司的数据.
- 检查ESG对未来现金流,长期价值和市场竞争力的影响.
- 调查HHI指数,财产权和ISO 9001认证的影响.
主要成果:
- 良好的ESG实践显著提高了公司的未来现金流和长期价值.
- 通过降低加权平均成本和增加投资资本回报率,ESG增加了长期的公司价值.
- 勒纳指数通过提高市场定价能力和竞争力来调解ESG-公司价值联系.
结论:
- 在中国企业中,ESG绩效是可持续发展和长期价值增长的关键驱动力.
- 将ESG概念纳入战略规划对于企业的成功至关重要.
- 调查结果为管理人员提供了一个参考,用于实施ESG战略,以提高市场竞争力.
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