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Esg Performance on the Financing Cost of A-Share Listed Companies and an Empirical Study

By: Wenping Wang1
1College of Business Administration, Chongqing Vocational and Technical University of Mechatronics,Bishan 402760, ChongQing, China.

Abstract

In recent years, with the proposal and implementation of my country’s carbon peaking and carbon neutrality strategic goals, my country has formed complete regulations on semi-mandatory disclosure of environmental information, and the disclosure rate of ESG reports is on a large scale. sexual growth. This article examines the effect of ESG performance on corporate financing costs based on the notion of information asymmetry and other theories. Next, using a sample of 1044 A-share listed businesses between 2016 and 2020, by sorting out and analyzing ESG report disclosure and rating data, the company’s ESG performance indicators are obtained, order to examine the connection between financing costs and ESG performance, an empirical model is built. The final half of this paper looks more closely at how company heterogeneity affects the relationship between ESG performance and costs. Furthermore, the moderating impacts of company size and media attention are explored in relation to the influence of ESG performance on corporate finance costs. The empirical findings demonstrate that business size has a moderating influence that is favourable.