Environment, Social and Governance (ESG) Performance of listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area: Towards the Development of an Enterprise Value Enhancement Program

Xuelian Wang

doi:10.54097/8hvx7q30

Authors

Xuelian Wang

DOI:

https://doi.org/10.54097/8hvx7q30

Keywords:

ESG Performance, Enterprise Value, Polluting Industries, Enhancement Program

Abstract

With the increasing global attention on environmental protection, social responsibility and corporate governance (ESG), it is particularly important to study the ESG performance of listed companies. Through the data analysis from 2018 to 2023, there was a significant positive correlation between the three dimensions of ESG performance and enterprise value, among which the improvement of environment performance, social performance and governance performance can significantly promote the growth of enterprise value. However, when enterprises are grouped according to the level of pollution, ESG performance and social performance of enterprises in polluting industries are not significantly correlated with enterprise value, while environment performance is negatively correlated with enterprise value, and governance performance is significantly positively correlated. Enterprises in non-polluting industries show a significant positive correlation between the overall and various dimensions of ESG performance and enterprise value. Based on this, this research study proposed an enterprise value enhancement program for listed companies in the Greater Bay Area, aiming to comprehensively improve ESG performance and enhance enterprise competitiveness and market value through multi-dimensional measures.

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