Research On The Impact Of ESG Information Disclosure On Corporate Performance From The Perspective Of Executive Team Cognitio

With the improvement of public health awareness,consumption upgrading and diversification of consumption scenarios,as well as the emerging food hygiene and safety issues,dairy products have received more and more attention,and the market as a whole is showing a "healthy" development trend.With the construction of ESG information disclosure in China,the sustainable development of the dairy industry has become an important topic.This is not only the institutional arrangement but also the need for iteration,and it is more important for the society and enterprises to update their cognition.Therefore,this paper takes the cognition of senior management team as the perspective and Yili shares as a case to explore the impact of executive cognition level on ESG information disclosure and corporate performance.First of all,this paper first excavates the driving factors of Yili’s active performance of ESG information disclosure,and then analyzes the factors that affect the senior management team’s cognition and the changes in senior management’s cognitive level.Then,it discusses the role of executive team cognition on ESG information disclosure and corporate performance,and finally analyzes the comprehensive impact assessment of corporate performance.The study concludes as follows:(1)The cognitive difference of senior management team plays an important role in strategic decision-making.The senior management team’s high level of awareness of ESG will affect the enterprise to make strategic decisions with ESG concept,thus improving the quality of ESG information disclosure.(2)It reveals three paths that ESG information disclosure affects enterprise performance.This paper discusses three ways that ESG information disclosure affects enterprise performance when analyzing the motivation of Yili’s positive disclosure of ESG information.Path 1: Yili Shares performs its strategic actions related to environmental protection under the pressure of the government and the system,improves the disclosure of environmental dimensions,and thus improves environmental performance.Path 2: Yili Shares,under the pressure of public opinion,performs the strategic behavior of caring for society,improves the disclosure of social dimensions,and thus improves social performance.Path 3: Yili will strive to build a sound and optimized team based on its own development pressure,improve the disclosure of governance dimensions,and thus improve economic performance.(3)Actively disclosing ESG information will promote enterprise performance.The senior management team of Yili Shares combines ESG with business to innovate sustainable products,which can obtain new development opportunities and achieve long-term development.The enterprise’s practice of ESG will help reduce the cost of raw materials,carbon,water and other production materials,and will bring great positive impact on the enterprise’s profits.The article analyzes that the enterprise performance has been improved.On the road of sustainable development,only by adhering to the principle of "vision achieves the future,altruism is win-win" can we make dreams warm and the future sustainable.The company’s senior management team must integrate ESG concepts into corporate strategies in order to better implement ESG responsibilities,so as to strategically improve the quality of ESG information disclosure,make stakeholders trust,win the favor of more investors,and improve corporate performance.In addition,the research conclusions of this paper enrich the literature on corporate performance cases of ESG information disclosure,and provide empirical evidence on how corporate management actively fulfills ESG responsibilities and discloses ESG information.