Synergistic Effects and Financial Impact of ESG Dimensions: Evidence from Chinese A-Share Companies

Xinyue Wang ()
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Xinyue Wang: Guangxi Minzu University, School of Management

A chapter in Proceedings of the 2025 7th International Conference on Economic Management and Cultural Industry (ICEMCI 2025), 2025, pp 519-532 from Springer

Abstract: Abstract With the widespread dissemination and deep penetration of the concept of sustainable development, Environmental, Social, and Governance (ESG), as an important framework for measuring a company’s sustainable development performance, profoundly influences its strategic and operational decisions. This study focuses on the impact of ESG rating scores on the financial performance of enterprises, and explores the mechanism of the synergy among the three dimensions of ESG. The research finds that ESG rating scores have a significant positive impact on the financial performance of enterprises, and this effect is universally applicable across different types of enterprises. Furthermore, a synergistic interaction exists among the ESG dimensions, primarily driven by the integration of the social and corporate governance dimensions. This achievement provides important empirical evidence for Chinese enterprises to optimize their ESG practice paths and inform governmental policy improvements. It also offers fresh perspectives and insights for the academic community to further explore the intricate interrelationships among the various ESG dimensions.

Keywords: ESG Rating Score; Financial Performance; Enterprise Nature; Synergies (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-888-2_51

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DOI: 10.2991/978-94-6463-888-2_51

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