Series Vol. 28 , 10 November 2023
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As an essential indicator to measure corporate financial performance and social responsibility, ESG has been widely used in theory and practice. This paper uses the data of listed companies combined with the least square regression test, a multidimensional empirical test of the impact of ESG on corporate financial performance. The results demonstrate that ESG has a differentiated impact on different financial indicators such as ROA (returns on assets), ROE (returns on equity), and Tobin's Q index, implying that the impact of ESG is relatively complex. Based on this, this paper puts forward some suggestions hoping to provide some references for enterprises to improve their financial performance and promote sustainable development.
ESG, financial performance, least squares regression, ROA, ROE, Tobin’s Q
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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.