Research Article
The Relationship Between ESG Information Disclosure Level and Enterprise Value: Empirical Evidence from Chinese Listed Companies
@INPROCEEDINGS{10.4108/eai.9-12-2022.2327665, author={Rong Zhang and Fenfei Chen}, title={The Relationship Between ESG Information Disclosure Level and Enterprise Value: Empirical Evidence from Chinese Listed Companies}, proceedings={Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China}, publisher={EAI}, proceedings_a={MSIEID}, year={2023}, month={3}, keywords={esg disclosure enterprise value ownership nature industry nature}, doi={10.4108/eai.9-12-2022.2327665} }- Rong Zhang
Fenfei Chen
Year: 2023
The Relationship Between ESG Information Disclosure Level and Enterprise Value: Empirical Evidence from Chinese Listed Companies
MSIEID
EAI
DOI: 10.4108/eai.9-12-2022.2327665
Abstract
Under the initiative of global sustainable development, ESG has attracted more and more attention. Based on a sample study of 708 non-financial listed companies in China's A-share market from 2015 to 2020, this paper provides empirical evidence of the relationship between ESG information disclosure and corporate value. It is found that the level of ESG disclosure has a significant positive impact on corporate value. There is a significant positive correlation between environmental dimension disclosure and corporate value, while governance and social dimension have no significant impact on corporate value. This paper also found that for non-state-owned enterprises, family enterprises and non-high-pollution and -energy -consumption enterprises, the positive impact of ESG disclosure on enterprise value is more obvious. This paper can provide reference for government and financial institutions to make relevant policies.
