- 期刊
Corporate Financial Performance and its Impact on Corporate ESG Performance: Theoretical Foundations and Empirical Examination
摘要
This paper selects financial data of A-share listed companies in China from 2011 to 2022 and the ESG rating levels from Huazheng, constructing a fixed-effects model for multiple regression analysis. Descriptive statistics and VIF tests were conducted on the relevant data. The impact of corporate financial performance on corporate ESG performance was empirically examined, followed by robustness and endogeneity tests. The following conclusions were drawn: (1) Corporate financial performance has a significant positive impact on corporate ESG performance. (2) Corporate financial performance still has a significant positive impact on corporate ESG performance with a lag of one period, indicating a lag effect. Finally, based on the research conclusions, some strategic recommendations are proposed for corporations, governments, and investors, as follows: (1) Corporations can integrate ESG goals with financial objectives to achieve long-term value creation and enhance competitiveness. (2) Governments can promote corporate social responsibility and improve ESG performance through incentive policies and strengthened ESG standards and regulation. (3) Investors should adopt ESG-integrated investment strategies, considering ESG factors to maximize investment returns and promote sustainable development of corporations.