| The chemical industry is one of the primary economic growth businesses in our country,but high-energy companies,high pollution and high risk will cause external problems.In recent years,with the introduction of the concept of carbon peak,carbon neutrality,stricter regulation of chemical industry,and the rise and ESG revenue growth(environment,people and corporate governance)in China,chemical enterprises are facing enormous pressure of ESG transformation.Different from the previous analysis of corporate financial indicators,ESG is an investment concept and corporate value evaluation standard that focuses on corporate performance in the fields of environment,society and corporate governance.The study on the impact of ESG on the value of chemical enterprises and the inclusion of ESG in the value evaluation system of chemical enterprises will help to reflect the enterprise value of chemical enterprises more truly and comprehensively,and strengthen the power of ESG transformation of chemical enterprises.In view of the above problems,this paper first defines the concepts of ESG and enterprise value,defines the standard of measurement,and also examines the principle of the ESG system at the institutional level.Secondly,the current state of ESG disclosure and ESG performance of chemical enterprises is analyzed.According to the new study,590 chemical companies listed in the A-share market from the first half of 2018 to the third quarter 2022 are selected as research objects.Based on the selected samples,the paper looks at how ESG performs the work of chemical companies on a number of companies.The results of the study show that ESG works well of chemical the business is very good at promoting business value.Better ESG solutions in the business can boost business value through the triple intermediary mechanism of improving enterprise financing support,improving enterprise innovation ability and reducing enterprise operating risk.The robustness test and heterogeneity analysis were further conducted on the baseline regression results,and the test results again supported the research conclusion.Moreover,through heterogeneity analysis,it was concluded that the improvement of ESG performance of companies and non-governmental companies with high sales quality had a more obvious promoting effect on enterprise value.ESG is a good start to transforming and improving processes development mode of chemical industry.Based on the research conclusion that the improvement of ESG The chemical industry’s approach has a positive way of boosting the value of the industry,the paper offers some good insights from the perspective of enterprises,ESG investors and government departments,and believes that enterprises should actively disclose ESG reports and fulfill ESG responsibilities.Integrating ESGs into the daily management and business practices of the enterprise;Investors should incorporate ESGs into investment decisions and include enterprises with good ESG performance into the investment pool.The government should improve ESG laws and regulations,improving the state of the ESG development process,and actively promoting the process of improving ESG performance and developing scale-up organizations. |
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