Research On Sustainable Development Performance Evaluation Of Yili Group Based On F-ESG Perspective

In recent years,the world is faced with challenges brought by environment,society and corporate governance,combined with the impact of COVID-19 on global economic and social development.The concept of ESG development focusing on non-financial performance has been highly concerned around the world,and the Chinese capital market is also developing rapidly,and relevant policies and evaluation standards are constantly improving.However,from the perspective of investors,while paying attention to non-financial performance,financial performance is still an important indicator to evaluate the investability of enterprises.Therefore,this paper combines financial indicators and ESG indicators in line with the current social development background to build an enterprise sustainable development performance evaluation system with "finance-environment-society-corporate governance" as the indicator.This paper selected Yili Group,a leading enterprise in the dairy industry,as the research object to construct and analyze the feasibility,necessity and applicability of the F-ESG sustainable development performance evaluation system.The influencing factors of sustainable development performance,ESG investment concept and FESG integrated report concept were sorted out,and F-ESG evaluation system was constructed on the basis of sustainable development theory,stakeholder theory and information asymmetry theory.The analytic hierarchy process is used to determine the index weight,and the index data is standardized through dimensionless,so as to score the sustainable development performance of Yili Group from 2017 to 2021.Finally,the applicability of constructing F-ESG evaluation index system is illustrated through comparative analysis with single financial performance and ESG performance.The results show that:(1)Yili Group has good sustainable development ability,and its sustainable development performance scores in the past five years are 84.02,85.11,82.48,85.03 and 86.47,respectively,all reaching Grade B.The financial performance and profitability of Yili Group are excellent,but its growth ability is mediocre.The company attaches great importance to the concept of ESG and has excellent non-financial performance.(2)The sustainable development performance evaluation system based on F-ESG is feasible and necessary,and is more applicable than the single financial performance evaluation and non-financial performance evaluation.When there is a difference in the variation trend of financial performance and non-financial performance,F-ESG evaluation system can better consider the difference in their performance,comprehensively evaluate enterprise performance,and provide better reference for investors.(3)F-ESG sustainable development performance evaluation system can make enterprises better understand the financial performance and governance status of enterprises,and can be used as a management method of enterprise sustainable development performance.This paper establishes F-ESG evaluation system and applies it to Yili Group,a case enterprise.We hope to guide enterprises to actively respond to the national "dual carbon" policy,practice ESG concept,adhere to sustainable development,and provide theoretical reference for enterprises.