Research On The Impact Of ESG Performance On Enterprise Value Of Our Listed Companies

After years of development,the ESG concept of corporate governance has attracted wide attention from academia,and people have a high degree of recognition for it.On the other hand,investors also began to attach importance to ESG.ESG can play a positive role in enterprise value.In addition,it can also respond to China’s policies and achieve the "double carbon" goal.A considerable number of chemical enterprises began to attach importance to ESG performance.Taking listed chemical enterprises as samples,this thesis analyzes the impact of ESG performance on enterprise value,and further discusses the impact of different indicators in ESG performance based on the breakdown value of the China Securities Index.This thesis first defines the concept and puts forward relevant assumptions based on stakeholder theory,information asymmetry theory,sustainable development theory,triple bottom line theory,separation of two rights theory and principal-agent theory.Before putting forward the hypothesis,the study also explored the relationship between ESG performance and the chemical industry to ensure that the hypothesis is applicable to the industry.Secondly,after processing the sample data,a total of 259 samples and 1231 panel data were obtained,and descriptive statistical analysis,correlation analysis,multicollinearity test and regression analysis were carried out.In the robustness test,on the one hand,the heterogeneity analysis was carried out around 2018 by dividing the time nodes,on the other hand,the indicators of ESG performance were also replaced,and the analysis was carried out by using the data of business street green.The results show that:(1)The positive performance of ESG and its single index of listed companies in the chemical industry has a significant positive impact on the current level of enterprise value;(2)After 2019,the impact of ESG on enterprise value is positive.Finally,in view of the problems found in the study,the following suggestions are put forward:(1)improve the application of ESG results and promote the active disclosure of enterprises;(2)Change the enterprise’s thinking and improve the enterprise’s environmental training;(3)Cultivate enterprise responsibility consciousness and strengthen the quality of responsibility report;(4)This can make the corporate governance structure more reasonable,and also can further improve the governance efficiency.This thesis discusses the relationship between enterprise ESG performance and enterprise value,so as to further improve the theoretical system of ESG performance and make up for the gaps in relevant fields.In addition,this thesis analyzes the ESG performance of listed companies.The research results can help enterprises achieve sustainable development,also make up for the deficiencies in enterprise development,optimize the ESG performance of enterprises,and improve enterprise value.Enterprises should attach importance to the development opportunities of ESG and apply it to daily production mode and operation,which can enhance the enterprise value and achieve sustainable development.