Research On The Value Of Transportation Enterprise Based On ESG Performance

The world is in the current of The Times.There are multiple deep-seated conflicts in the world,economic globalization is encountering countercurrent,scientific and technological revolution and industrial transformation are deepening,and COVID-19 is hitting the world.At present,China’s historical stage is the hard work of the previous generations,bringing unprecedented development opportunities for future generations,the realization of socialist modernization,carbon neutrality and carbon peak goals,the promulgate of measures to stabilize national economic growth,the national comprehensive three-dimensional transportation network plan and the "14th Five-Year Plan" for green transportation.The higher requirements have been proposed to the sustainable development of Chinese transportation industry,and the challenges and opportunities which the transportation enterprises transform to the high quality exist.In 2005,the United Nations Compact Organization put forward the concept of ESG(Environmental,Social,Governance)for the first time.In recent years,more and more domestic and foreign investment value evaluation,ESG is taken as an important dimension of its value evaluation,and then becomes an important basis for evaluating the development of green finance.The transportation industry is one of the major sectors with a year-on-year increase in carbon emissions in the macro context of carbon peaking and carbon neutrality.The application of ESG system to the development of transportation enterprises has comparatively significant meaning and study worth.Based on domestic and foreign theoretical basis,there is significant theoretical and practical meaning to probe the multi-dimensional value influence of ESG in enterprises in the transportation industry and through which mechanisms,so as to improve the theoretical basis of the influence of ESG on enterprise value.In this regard,this paper comprehensively summarizes the research status of ESG system and domestic and foreign research results,summarizes the characteristics of transport enterprises,and combs the data of all 126 transport enterprises listed in Shanghai and Shenzhen A-shares from 2018 to 2021 on the premise of stakeholder theory,sustainable development theory and economic externality theory.Distribution in transportation infrastructure companies,aviation,shipping,railway transportation and other different fields and direction,statistical analysis of the transportation enterprise of ESG performance in recent years,and then combined with the empirical research,to further explore the ESG performance influence on transportation enterprise value,"E","S","G" and enterprise value,the correlation of three factors and transportation What are the mechanisms through which ESG will affect enterprise value?The main conclusions of this text show that the better the ESG performance of transportation enterprises,the higher the enterprise value at first.Secondly,The impact of environmental(E),social(S)and governance(G)on the value of transportation enterprises is correlated.Third,ESG can help companies reduce financing constraints,promote the improvement of enterprise value,and help companies carry out appropriate risk control.This text raise the following policy recommendations according to the study conclusions:first,to improve ESG related legislation in the transportation industry,and strengthen policy guidance and supervision;Second,for transportation enterprises continue to improve the ESG rating system;Third,effectively promote the green development concept reform,blend in low carbon development during the process of development;Fourth,to promote corporate governance;Fifth,promote the transportation industry and new economic and social development demands;Sixth,strengthen risk prevention,enhance the value of investment,further standardize the operation and management behavior,balance the benefits and costs.