Research on The Impact of PROYA ESG Upgrades on Corporate Value

Linzhi Yang; Yijun Chen

doi:10.54097/fbem.v10i2.10897

Authors

Linzhi Yang
Yijun Chen

DOI:

https://doi.org/10.54097/fbem.v10i2.10897

Keywords:

ESG rating, Enterprise value, PROYA.

Abstract

In recent years, with the sustainable development, carbon peak, carbon neutral target, investors for the attention of listed companies is not limited to financial indicators, corporate environmental responsibility, social responsibility and corporate governance and development prospects more attention by investors, ESG has gradually become one of the important factors that cannot be ignored in enterprise development. In this paper, we explore the influence of the ESG rating upgrade on the enterprise value, as the research object, adopt the event research method, analyze the market reaction of the event, and then analyze the influence of the ESG rating increase on the enterprise value by calculating the value of TobinQ in the past five years. The research results show that the short-term abnormal yield rate is positive, and it also has a positive impact on its corporate value.

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