ESG Rating, Operating Capacity and Corporate Financing Efficiency

Shouyu Wei ； Chunqiang Zhang

《Frontiers in Economics and Management》 2卷11期 (2021/11) Pp. 93-100

https://doi.org/10.6981/FEM.202111_2(11).0011

摘要

ESG rating is an important indicator to evaluate the strength of enterprises, and its impact on corporate performance and efficiency has been paid more and more attention by the academic circles. This paper empirically studies the impact of ESG rating and operating ability on financing efficiency from the perspective of corporate financing efficiency. This paper takes 3800 observations from 2018 to 2020 as the research sample, and finds that after controlling the influence of other variables: There is a significant positive correlation between ESG rating and financing efficiency; Furthermore, the better the operating capacity is, the more obvious the positive impact of ESG rating on financing efficiency is. Finally, this paper puts forward relevant suggestions for the conclusion of the study, and provides solutions for enterprises to improve financing efficiency.

關鍵字

ESG Rating ； Operational Capacity ； Financing Efficiency

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