School of Management, Heilongjiang University of Science and Technology

推动经济社会绿色化、低碳化发展是实现我国高质量发展的关键环节,以环境、社会、公司治理为核心的 ESG 理念,正快速在全球范围内崛起。因此,以能源型企业兖矿能源为研究对象,运用灰色关联度法探讨ESG表现对企业价值的影响。研究表明:① 兖矿能源ESG实践表现较好;② 兖矿能源环境、社会和ESG整体表现与企业市场价值的关联程度较为紧密、对企业市场价值影响较大,治理指标对企业市场价值影响稍弱;③ 社会和治理指标与其账面价值关联程度较为紧密,影响较大,环境及ESG整体表现对企业账面价值影响稍弱,不同的ESG指标对企业市场价值和账面价值的影响程度存在差异。研究结果丰富了我国能源型企业ESG表现的经济影响研究,也为能源型企业绿色低碳发展提供了新思路。

Promoting green and low-carbon economic and social development is a key link to achieve high-quality development in China, and ESG concept with environment, society and corporate governance as its core is rapidly rising on a global scale. Therefore,taking the energy-based enterprise Yankuang Energy as the research object, the influence of ESG performance on enterprise value is discussed by using grey relation degree method. The results show that:① The ESG practice performance of Yan kuang Energy is better.② The overall ESG performance,environment and society indicators of Yan kuang energy have great influences and are closely related to the market value of the enterprise, and the influence of governance indicators on the market value of the enterprise is slightly weak.③ Social and governance indicators ave great influences and are closely related to their book value, while the overall performance of environment and ESG has a slight impact on the book value of enterprises. However, the influence of different ESG indicators on enterprise market and book value is different. The results enrich the research on the economic impact of ESG performance of energy-based enterprises in China, and also provide new ideas for the green and low-carbon development of energy-based enterprises.

富茜楠, 黄宇彤. 兖矿能源ESG表现对企业价值的影响研究. 煤炭经济研究. 2024, 44(11): 136-145

FU Qiannan, HUANG Yutong. Research on the influence of ESG performance of Yankuang Energy on corporate value. Coal Economic Research. 2024, 44(11): 136-145