Proceedings of the 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)

2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)

📍Beijing, China🗓️ 24-26 April 2026
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Research on the Impact of ESG Performance on Corporate Financial Performance

Authors
Fanyi Meng1, *
1School of Economics and Management, Beijing Jiaotong University, Beijing, 100044, China
*Corresponding author. Email: 23726057@bjtu.edu.cn
Corresponding Author
Fanyi Meng
Available Online 9 July 2026.
DOI
10.2991/978-94-6239-719-4_35How to use a DOI?
Keywords
ESG performance; financial performance; financing constraints; analyst coverage; agency costs; firm heterogeneity
Abstract

Under increasing global ecological pressure and social equity concerns, ESG has attracted widespread attention. Using Chinese A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2009 to 2024, this study examines ESG performance’s impact on corporate financial performance. Results show a significant positive effect, robust to tests including variable substitution, lagging, quantile regression, PSM, and instrumental variables. Heterogeneity analysis reveals stronger effects in non-state-owned and low-debt enterprises. Mechanism tests indicate that ESG alleviates financing constraints, increases analyst attention, and reduces agency costs, thereby improving financial performance. The paper recommends that enterprises treat ESG as strategic investment, investors recognize its value-creation path, and regulators enhance ESG disclosure systems to promote sustainable development and efficient capital allocation.

Copyright
© 2026 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 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
9 July 2026
ISBN
978-94-6239-719-4
ISSN
2352-5428
DOI
10.2991/978-94-6239-719-4_35How to use a DOI?
Copyright
© 2026 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  - Fanyi Meng
PY  - 2026
DA  - 2026/07/09
TI  - Research on the Impact of ESG Performance on Corporate Financial Performance
BT  - Proceedings of the 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)
PB  - Atlantis Press
SP  - 306
EP  - 318
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-719-4_35
DO  - 10.2991/978-94-6239-719-4_35
ID  - Meng2026
ER  -