ESG Performance,Internal Controls and Corporate Financial Performance—The Regulatory Effect of Industry Competition
Under the background of carbon peaking and carbon neutrality,taking the enhancement of corporate ESG performance as the development orientation not only helps stable business operations,but also conforms to the concept of sustainable development and improves the financial performance of enterprises.Based on the data of A-share non-financial listed companies in China from 2013 to 2022,an empirical analysis is conducted to examine the impact of ESG performance on corporate financial performance,and it finds that ESG performance is able to promote the enhancement of corporate financial performance by strengthening the quality of internal control,and this enhancement is more obvious in non-state-owned enterprises and high-tech enterprises.A further study shows that industry competition positively moderates the impact of ESG performance on corporate financial performance.Therefore,corporations should focus more on ESG,strengthen corporate ESG construction,establish a comprehensive internal control system,and improve the level of competition in order to promote corporations to get more excellent achievements on the way of sustainable development.
万方数据
