Research on the Impact of ESG Performance on Business Performance of Financial Enterprises

本文选取我国2017~2022年A股上市金融企业数据，基于利益相关者理论、信号传递理论和可持续发展理论，运用双向固定效应模型，研究了金融企业ESG综合表现对其经营绩效的影响。为进一步明确金融企业ESG表现影响其经营绩效的作用机制，本文选取员工待遇这一指标作为中介变量，研究该指标在企业ESG表现对其经营绩效影响过程中的中介效应。研究表明：1) 金融企业ESG表现对其经营绩效的影响具有滞后性，且为正向影响。2) 员工待遇在ESG表现影响企业经营绩效的过程中存在中介效应。在此基础上，本文提出了相应的对策建议，旨在推动企业经营绩效的提升。同时，本文也为进一步加强企业ESG建设、促进企业健康可持续发展提供了有益的参考价值。Based on the stakeholder theory, signal transmission theory and sustainable development theory, this paper selects the data of A-share listed financial enterprises in China from 2017 to 2022, and uses two-way fixed effect model to study the impact of ESG comprehensive performance of financial enterprises on their business performance. In order to further clarify the mechanism of financial enterprises’ ESG performance affecting their operating performance, this paper selects the indicator of employee treatment as a mediating variable to study the mediating effect of this indicator in the process of the impact of enterprise ESG performance on its business performance. The results show that: 1) Financial enterprises’ ESG performance has a lagged and positive impact on their operating performance. 2) There is a mediating effect of employee treatment in the process of ESG performance affecting enterprise operating performance. On this basis, this paper puts forward corresponding countermeasures and suggestions, aiming at promoting the improvement of enterprise business performance. At the same time, this paper also provides useful reference value for further strengthening the construction of ESG and promoting the healthy and sustainable development of enterprises.