The Impact of ESG Information Disclosure on the Financing Efficiency of Listed New Energy Companies

Kexin Gu ()
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Kexin Gu: Nanjing Audit University, School of National Audit

A chapter in Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025), 2025, pp 383-391 from Springer

Abstract: Abstract With the development of the “dual carbon” approach and the expansion of the global notion of sustainable development, disclosure of environmental, social, and corporate governance (ESG) information has steadily grown in importance as a gauge of an organization’s capacity for sustainable development. Especially in the new energy industry, a capital-intensive, technology-driven strategic emerging industry, ESG performance may have a profound impact on its financing efficiency. This paper examines how finance efficiency is impacted by ESG information disclosure using data from China’s A-share new energy listed companies from 2015 to 2023. The findings demonstrate that a high degree of ESG performance can greatly increase the effectiveness of corporate finance. In addition, this paper also explores whether ESG affects financing efficiency by reducing corporate financing constraints. High-level ESG companies’ ESG scores have a more noticeable impact on increasing corporate finance efficiency, according to the heterogeneity test. In addition to adding to the empirical data supporting the effect of ESG on corporate financing efficiency, this study offers new energy firms a useful resource for capital structure optimization and ESG strategic management.

Keywords: Financing efficiency; Financing constraints; ESG (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-874-5_46

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