Proceedings of the 2025 4th International Conference on Big Data Economy and Digital Management (BDEDM 2025)

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Parameter Analysis and Impact Analysis of Enterprise ESG Scores

Authors
Nana Wang1, Hongjie Tao2, *, Jie Geng2
1Institute of Service Standardization, China National Institute of Standardization, Beijing, China
2China Research Institute of Regulation and Public Policy, Zhejiang University of Finance & Economics, Hangzhou, China
*Corresponding author. Email: tao.hongjie@outlook.com
Corresponding Author
Hongjie Tao
Available Online 14 May 2025.
DOI
10.2991/978-94-6463-710-6_33How to use a DOI?
Keywords
ESG score; Stock liquidity; Correlation testing; Mediating effect
Abstract

ESG is a method of evaluating the sustainability of business operations and their impact on social values from three dimensions: environmental, social, and corporate governance. The impact and degree of ESG on enterprises need to be studied. This paper collects various parameters of 21541 enterprises, including stock liquidity, enterprise size, establishment years, and so on. This paper explores the impact of the core explanatory variable ESG on the remaining variables. This paper uses correlation testing to analyze the strong correlation between ESG and enterprise size and lifespan. This paper further uses benchmark regression, robustness testing, and mediation effects to analyze the channels and pathways through which ESG significantly enhances a company’s stock liquidity. The research conclusion suggests that ESG can reduce information asymmetry in enterprises, increase the attention of institutional investors, thereby unleashing the trading potential of enterprises and enhancing their stock liquidity. This study provides a good explanation for the impact of ESG scores on companies.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 4th International Conference on Big Data Economy and Digital Management (BDEDM 2025)
Series
Advances in Intelligent Systems Research
Publication Date
14 May 2025
ISBN
978-94-6463-710-6
ISSN
1951-6851
DOI
10.2991/978-94-6463-710-6_33How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Nana Wang
AU  - Hongjie Tao
AU  - Jie Geng
PY  - 2025
DA  - 2025/05/14
TI  - Parameter Analysis and Impact Analysis of Enterprise ESG Scores
BT  - Proceedings of the 2025 4th International Conference on Big Data Economy and Digital Management (BDEDM 2025)
PB  - Atlantis Press
SP  - 281
EP  - 293
SN  - 1951-6851
UR  - https://doi.org/10.2991/978-94-6463-710-6_33
DO  - 10.2991/978-94-6463-710-6_33
ID  - Wang2025
ER  -