Study On The Influence Of Gac Group ESG Information Disclosure On Financial Performance

All along,financial information disclosure has been extensively concerned in our country,but there is a lack of non-financial information disclosure such as environment and corporate social responsibility.Under the background that ESG information has become an important index to evaluate enterprises,it is an important topic to understand ESG information disclosure and study its impact on enterprise performance.Gac Group has been adhering to the social responsibility information disclosure for more than ten years.In 2021,for the first time,the social responsibility report and environmental,social and regulatory(ESG)report were integrated into one and the social responsibility(ESG)management structure was disclosed.This paper focuses on the impact of ESG information on GAC Group’s performance after the 2021 report consolidation and social responsibility(ESG)management structure disclosure.Firstly,the research of experts and scholars on the impact of ESG information disclosure and ESG information disclosure on performance is summarized,the concepts of ESG and corporate performance are defined,and the influence mechanism of ESG information disclosure on corporate performance and the mechanism of event study method reflecting stock price are analyzed.Then,based on the requirements of information asymmetry theory and signal transmission theory,the content and situation of GAC Group ESG information disclosure are introduced.Secondly,the change of capital cost after the disclosure of Ga C Group’s ESG information is analyzed.The WW index and ESG score are used to comprehensively judge the financing constraints of Ga C Group under ESG information disclosure.By comparative analysis method,the financial performance indicators such as debt paying ability,profitability,operating ability and development ability are compared and analyzed respectively with the mean value of the automobile manufacturing industry(hereinafter referred to as the automobile industry),and the change trend of the indicators in recent years is combined to explore the financial performance of GAC Group under the background of ESG information disclosure.Finally,the event study method is used to track and measure the stock price fluctuation and yield of GAC Group before and after the disclosure of ESG information,and analyze the market reaction.The influence of GAC Group’s reputation and market share change on non-financial performance is analyzed.Finally,it is concluded that GAC Group’s ESG information disclosure can promote performance.Through the case study,this paper finds that ESG information disclosure can reduce the cost of capital,relieve financing pressure and improve financial performance to a certain extent.It also promotes reputation and market share.It is hoped that by analyzing the development status of ESG information disclosure performance in actual cases,enterprises and stakeholders will pay attention to ESG information of enterprises and enhance their awareness of information disclosure.