Research On The Motivation And Effect Of ESGInformation Disclosure Of Listed Companies

China’s economy has entered the stage of high-quality development,and green,low-carbon and sustainable have become the new keywords of economic development,which largely promotes the development of ESG(Environment,Social,Governance),which advocates that enterprises should not only focus on the growth of their own financial performance in the process of operation,but also pay attention to the coordinated development of non-financial aspects of performance The disclosure of ESG information has become a new element to enhance the competitiveness of enterprises.However,the development of ESG information disclosure in China is short,the level of disclosure is low,and the overall is still in the initial stage,and the number of enterprises that publish ESG reports is still relatively small.Many enterprises worry that ESG information disclosure will generate a lot of costs and affect the financial performance and economic value of enterprises,thus creating worries.There is an urgent need to improve the initiative of ESG information disclosure by studying the positive effects of ESG information disclosure on enterprises to further promote the high-quality development of China’s economy.This thesis adopts the case study method,takes China Nuclear Power as the research object,based on the stakeholder theory,signaling theory and resource dependence theory,and analyzes the ESG information disclosure related concepts and the current status of research,by sorting out the specific situation of its ESG information disclosure and analyzing its ESG information disclosure motives,based on which the three dimensions of non-economic effect,market response and economic effect are On this basis,the effects of ESG information disclosure are analyzed in three dimensions: non-economic effects,market response and economic effects.By studying this paper,we found that the disclosure of ESG information by China Nuclear Power is mainly driven by three-dimensional multifactors of environmental,social,and corporate governance,such as meeting environmental information disclosure requirements,gaining goodwill from the government,and strengthening corporate risk management.By analyzing the effects of ESG disclosure,we found that,in terms of non-economic effects,ESG disclosure has brought to CNNC an increase in energy saving and emission reduction,improvement of environmental management system,reputation improvement and recognition from employees,suppliers and government.In terms of economic effects,the financial performance of enterprises has been improved and financing constraints have been alleviated.In conclusion,this paper argues that ESG information disclosure helps to promote sustainable development of enterprises,and that enterprises should pay attention to the coordinated development of environmental protection,social responsibility,and corporate governance in the process of operation,and release the signal that the company actively undertakes social responsibility by means of ESG information disclosure,so as to promote the sustainable development of the whole society.