Research on the Impact of Corporate ESG Performance on Enterprise Value

Tong Shen ()
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Tong Shen: Chongqing Technology and Business University, School of Accounting

A chapter in Proceedings of the 2026 11th International Conference on Social Sciences and Economic Development (ICSSED 2026), 2026, pp 537-548 from Springer

Abstract: Abstract Based on the stakeholder theory, this paper studies how ESG affects enterprise value and analyzes how enterprises can optimize ESG management. The research finds that the ways to optimize ESG management can be systematically advanced from three dimensions: environment (E), society (S), and governance (G). In the context of global efforts towards high-quality development and the “dual carbon” goals, ESG has become a key indicator for measuring an enterprise's sustainable development performance and long-term value. Through literature review and case analysis, this paper reveals the multi-faceted influence mechanism of ESG performance on enterprise value: the environmental dimension reduces risks and creates green gains by lowering emissions, conserving resources, and improving performance; the social dimension enhances brand image and organizational cohesion by practicing public welfare and safeguarding employee rights; the governance dimension mitigates agency risks and attracts long-term capital by optimizing structure, enhancing transparency, and building harmonious labor relations. More importantly, these three dimensions do not act independently but form a closed loop system of “risk prevention and control - value creation - sustainable development” through deep collaboration, jointly driving the spiral increase of enterprise value. The research contribution of this paper lies in expanding the boundaries of traditional enterprise value theory and providing theoretical and empirical support for incorporating non-financial factors into enterprise evaluation. In terms of management implications, enterprises should incorporate ESG into strategic, establish a systematic data management system, promote full value chain implementation, deepen industry chain collaboration and communication with stakeholders, and establish performance evaluation and continuous improvement mechanisms, thereby achieving a strategic transformation from passive compliance to active value creation.

Keywords: ESG; enterprise value; ESG management; influence mechanism (search for similar items in EconPapers)
Date: 2026
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DOI: 10.2991/978-94-6239-701-9_55

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