| The idea of ESG has spread rapidly,thanks to international organisations such as the United Nations Principles for Responsible Investment(UNPRI).Although ESG started late in China,under the dual carbon goal,its core thought of sustainable development coincides with the sustainable development strategy promoted by China for a long time,but also the important point for China to enter the new development stage,implement the new development concept,and promote the high-quality economic development.Therefore,this paper takes China Merchants Bank’s ESG information disclosure as the research topic.First,based on a lot of reading domestic and foreign literature,it reviews relevant theoretical research and empirical results at home and abroad.The theoretical framework of ESG information disclosure is preliminarily proposed.Secondly,the case analysis method is used to analyze the situation and motivation of ESG information disclosure of enterprises.Then,focusing on the economic consequences of ESG information disclosure of enterprises in the case,the emotional tendency analysis method is used to test the market reaction brought by ESG information disclosure of the banking industry.And the change of enterprise value after China Merchants Bank ESG information disclosure.The results show that the short-term market reaction after the disclosure of ESG information is positive.By disclosing ESG information,China Merchants Bank has shown an increase in enterprise value since 2015.Therefore,the economic consequences of ESG information disclosure are positive.Based on the above conclusions,this paper,through practical cases,causes stakeholders to pay attention to the ESG information of enterprises and causes enterprises to improve the disclosure of ESG information.Promote enterprises to actively improve the level of management and information disclosure,improve their own sustainable development ability,and promote the level of enterprise ESG. |
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