Proceedings of the 2024 6th Management Science Informatization and Economic Innovation Development Conference (MSIEID 2024)

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Empirical Study on the Impact of ESG Performance on Financial Performance in the Manufacturing Sector

Authors
Wei He1, Rujie Liu1, Tao Han1, Jicheng Zhang1, Yixun Lei1, Shan Xu1, Hongwei Yu2, Zhu Li3, *
1Three Gorges Electric Power Co., Ltd., Wuhan, China
2Institute of Quality Development Strategy, Wuhan University, Wuhan, China
3Electronic Information School, Wuhan University, Wuhan, China
*Corresponding author. Email: leez500103@gmail.com
Corresponding Author
Zhu Li
Available Online 15 April 2025.
DOI
10.2991/978-94-6463-676-5_23How to use a DOI?
Keywords
ESG performance; financial performance; Empirical analysis; Manufacturing enterprises; Resource efficiency
Abstract

In the context of intense global competition, ESG standards are crucial for sustainable development. This study examines the impact of ESG performance on the financial performance of A-share listed manufacturing companies in China from 2009 to 2022 using Ordinary Least Squares (OLS) regression, Fixed Effects models, and Instrumental Variable (IV) techniques. The results show that ESG performance significantly enhances financial performance, primarily through improved resource efficiency, government subsidies, and brand value. High-tech industries and companies in eastern and central China benefit more. This study provides empirical data and insights for strategic decision-making and policy formulation.

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 2024 6th Management Science Informatization and Economic Innovation Development Conference (MSIEID 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
15 April 2025
ISBN
978-94-6463-676-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-676-5_23How 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  - Wei He
AU  - Rujie Liu
AU  - Tao Han
AU  - Jicheng Zhang
AU  - Yixun Lei
AU  - Shan Xu
AU  - Hongwei Yu
AU  - Zhu Li
PY  - 2025
DA  - 2025/04/15
TI  - Empirical Study on the Impact of ESG Performance on Financial Performance in the Manufacturing Sector
BT  - Proceedings of the 2024 6th Management Science Informatization and Economic Innovation Development Conference (MSIEID 2024)
PB  - Atlantis Press
SP  - 221
EP  - 239
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-676-5_23
DO  - 10.2991/978-94-6463-676-5_23
ID  - He2025
ER  -