ESG Information Disclosure And Its Economic Consequences:A Case Study Of Kanghong Pharmaceutical

With the proposal of the "dual carbon goal" and the vigorous development of the "green economy",the ESG concept has gradually taken root in the hearts of the people.As an important part of the ESG concept,ESG information can reflect the efforts of enterprises in protecting the environment,contributing to society,and optimizing corporate governance structures.It is a manifestation of their ability to continue operating and sustainable development,and has very important strategic significance.However,at present,China’s ESG information disclosure system is not sound enough,with problems such as low reference value of ESG information disclosed by enterprises,and insufficient attention paid by the capital market to ESG information disclosure.Based on this,in order to further promote the construction of the ESG information disclosure system,this article selects Kanghong Pharmaceutical,which first disclosed ESG information in 2019,as a case study object to explore its ESG information disclosure and its impact on corporate economic consequences.Based on collecting and sorting out relevant literature at home and abroad,and summarizing the development status of ESG information disclosure at home and abroad,this article uses literature research,case analysis,and event research methods,combining stakeholder theory,corporate social responsibility theory,signal asymmetry theory,and signal transmission theory to summarize the characteristics of ESG information disclosure by Kanghong Pharmaceutical,and analyze the motivation for Kanghong Pharmaceutical to conduct ESG information disclosure,Explore the impact of ESG information disclosure on its corporate economic consequences.Conclusion:Kanghong Pharmaceutical’s ESG information disclosure content is relatively complete and standardized,and the disclosure content is innovative,balanced,and comparable;The motivations for Kanghong’s ESG information disclosure include actively assuming social responsibility,responding to stakeholder expectations,and transmitting positive signals to the market;Enterprises’ ESG information disclosure can have positive economic consequences.Finally,this article puts forward suggestions from the perspectives of enterprises,government,and the market in order to provide corresponding reference for improving ESG information disclosure.