Research On The Influence Of ESG Performance On Financial Performance Of Electronic Manufacturing Industry

As the new growth drivers of China’s economic development continue to grow,the "dual carbon" development strategy continues to deepen,it is the general trend to adhere to the concept of sustainable development.The ESG concept with environment,society and corporate governance as the pillars provides a new path for enterprises to realize green transformation and sustainable operation.As an important strategic industry of our national economy,electronic manufacturing industry plays an important role in the process of enabling the digital economy to the real economy.Considering its characteristics of high pollution,low level labor intensity and diversified customer demands,studying the relationship between its ESG performance and financial performance is conducive to enhancing the competitiveness of enterprises,promoting ESG responsible investment and promoting high-quality economic development.This paper investigates the relationship between ESG performance of electronic manufacturing industry and corporate financial performance by combining empirical test and case analysis.In the empirical test part,taking Chinese A-share listed companies in the computer,communication and other electronic equipment manufacturing industries from 2015 to 2021 as samples,A panel model of individual time dual fixed effects is constructed to conduct multiple linear regression between ESG performance and corporate financial performance,and the adjustment effect of economic policy uncertainty on the relationship between them is tested.And analyze the difference of adjustment effect of different property rights.In the case analysis,the ESG performance of Universal Scientific Industrial and the changes of relevant financial indicators are discussed through the method of comparative analysis with the industry,to support the conclusion of empirical test.Finally,on the basis of the previous research,put forward the relevant policy recommendations.The empirical research shows that:(1)ESG performance has a significant positive impact on corporate financial performance;(2)Economic policy uncertainty has a negative moderating effect on the promoting effect of ESG performance on corporate financial performance;(3)Further research shows that the negative moderating effect of economic policy uncertainty has a greater impact on non-state-owned enterprises than on state-owned enterprises.In the part of case analysis,by comparing the ESG performance of Universal Scientific Industrial with the industry average level of financial performance,a conclusion consistent with the empirical test is drawn.Based on the above research,this paper gives the following suggestions:(1)Suggestions for enterprises.Establish ESG long-term responsibility awareness,strengthen ESG information disclosure initiative;Promote multi-party coordinated development and enhance ESG’s capacity to fulfill responsibilities.(2)Suggestions to the government.Increase ESG responsibility publicity,improve the information disclosure system;Improve ESG responsibility laws and regulations,increase ESG rewards and punishments;We will maintain the robustness of economic policies and make policy making more transparent.(3)Suggestions to the public.We will strengthen the public’s sense of responsibility and give full play to the role of public oversight.