At a time when the concept of sustainable development is deepening,does ESG,as a comprehensive indicator for eval-uating the corporate environment,society and corporate governance,attract attention when institutional investors make investment decisions?This article takes A-share listed companies from 2009 to 2021 as a sample to study the impact of enterprise ESG on the shareholding ratio of institutional investors to explore whether institutional investors have ESG preferences when investing.The re-search results show that the higher the ESG of an enterprise,the higher the shareholding ratio of institutional investors,and institu-tional investors have ESG preferences when investing.This article provides direct evidence for understanding the investment prefer-ences of institutional investors,and also provides a certain decision-making basis for the government to formulate policies.
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