IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v93y2024ipap318-331.html
   My bibliography  Save this article

The effect of ESG on enterprise value under the dual carbon goals: From the perspectives of financing constraints and green innovation

Author

Listed:
  • Qian, Simeng

Abstract

Environmental, Social, and Governance (ESG) is an important criterion for evaluating non-financial indicators of firm performance, offering substantial support for advancing green transformation. This paper examines the impact of ESG performance on enterprise value using data from 3139 Chinese A-listed companies spanning from 2010 to 2021. The results demonstrate that enhancing ESG performance significantly boosts enterprise value. Additionally, ESG initiatives can alleviate corporate financing constraints and stimulate green innovation, consequently driving enterprise value. Furthermore, the positive effect of ESG on enterprise value is more pronounced for non-state-owned enterprises, low-polluting enterprises, and small-scale enterprises. These findings deepen our understanding of how ESG influences enterprise value within the context of the dual-carbon goal, offering theoretical backing for companies and investors to bolster ESG management practices and aiding government efforts to enhance ESG macro guidance.

Suggested Citation

  • Qian, Simeng, 2024. "The effect of ESG on enterprise value under the dual carbon goals: From the perspectives of financing constraints and green innovation," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 318-331.
    • Handle: RePEc:eee:reveco:v:93:y:2024:i:pa:p:318-331
    DOI: 10.1016/j.iref.2024.03.010
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056024001758
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2024.03.010?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yu Chen & Shuangshuang Liu & Yanqiu Xiao & Qian Zhou, 2024. "Can Digital Transformation Reduce Enterprise Carbon Intensity? An Empirical Analysis of Chinese Manufacturers," Sustainability, MDPI, vol. 16(12), pages 1-19, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:93:y:2024:i:pa:p:318-331. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.