Research on the Impact of ESG Performance on Corporate Financial Performance
In recent years,with the growing awareness of sustainable development,the ESG performance of companies has gradually received widespread attention from society and has had a sustained impact on business operations.Under the new development paradigm,it is worth exploring whether ESG performance can promote the improvement of corporate financial performance.This study uses data from A-share listed companies from 2012 to 2022 as a sample and employs empirical analysis to investigate the relationship between corporate ESG performance and financial performance.The research results in-dicate that in the short term,the costs associated with improving ESG performance exceed the benefits.However,continuous ESG practices can yield long-term positive effects,and strong ESG performance may bring excess profits to enterprises.Het-erogeneity analysis reveals that,compared to highly polluting companies,non-highly polluting companies see a more pro-nounced positive impact of ESG performance on financial performance.Therefore,companies should adopt long-term invest-ment strategies and develop comprehensive ESG management plans to ensure that ESG investments can gradually achieve long-term benefits.Non-highly polluting companies should increase environmental investments,gradually reduce the environ-mental impact through technological innovation and improvement of resource utilization rate,thereby boosting their sustainabil-ity and maximizing the positive impact of ESG performance on financial performance.
万方数据
维普
