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Research on the Influence Mechanism of Environment Social Government Performance in State-Owned Enterprise Value: The Role of Digital Transformation

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  • Jiunan Ji

    (School of Management, Xi’an Jiaotong University City College, Xi’an 710018, China
    Department of Accounting and Finance, School of Management, Xi’an Jiaotong University, Xi’an 710049, China)

  • Junrui Zhang

    (School of Management, Xi’an Jiaotong University City College, Xi’an 710018, China
    Department of Accounting and Finance, School of Management, Xi’an Jiaotong University, Xi’an 710049, China)

  • Wen Qu

    (School of Management, Xi’an Jiaotong University City College, Xi’an 710018, China
    Department of Accounting and Finance, School of Management, Xi’an Jiaotong University, Xi’an 710049, China)

Abstract

Under the background of sustainable development and high-quality development in China, it is of great significance to actively promote enterprises to practice ESG development concepts and digital transformation. This study uses a sample of state-owned companies in the Chinese capital market during the period from 2014 to 2020. The results of the research show that there is a U-shaped relationship between ESG performance and the value of state-owned enterprises. And digital transformation plays a positive moderating role in the relationship. The result of a further mechanism study indicates that ESG performance affects enterprise value by reducing the financing constraints. This study also examines the results using a dynamic panel model and endogeneity test method. Therefore, this study provides references to promote ESG practices and offers new insight into the role of digital transformation in state-owned companies. In order to pursue sustainable development and high-quality economic development, ESG practices and digital transformation should also be paid attention to in enterprises.

Suggested Citation

  • Jiunan Ji & Junrui Zhang & Wen Qu, 2025. "Research on the Influence Mechanism of Environment Social Government Performance in State-Owned Enterprise Value: The Role of Digital Transformation," Sustainability, MDPI, vol. 17(3), pages 1-18, January.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:3:p:928-:d:1574731
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    References listed on IDEAS

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