Effect of Environmental, Social, and Governance System Guided by Wireless Communication Network on Enterprise Investment
Publicado en línea: 04 oct 2024
Recibido: 17 may 2024
Aceptado: 17 ago 2024
DOI: https://doi.org/10.2478/amns-2024-2743
Palabras clave
© 2024 Hongjun Qin et al., published by Sciendo
This work is licensed under the Creative Commons Attribution 4.0 International License.
Objective
in the context of the rapid development of wireless communication networks, it explores the relationship between environmental, social, and governance (ESG) scores and corporate financing technical efficiency (TE).
Methods
A-share listed companies are the research object, and the ESG scores of A-share listed companies from 2020 to 2022 are screened. ESG scores are the explanatory variable, and the marketization process (Market) is the moderating variable. Leverage level (LEV), company size (SIZE), return on assets (ROA), growth ability (Growth), Tobin’s q (TBQ), and return on equity (ROE) as control variables, the fixed effect model is adopted for empirical analysis.
Results
TE: mean 1.386, median 1.062; ESG: mean 5.31, median 5.03; SIZE: mean 10.823, the maximum value 14.302, and the minimum value 7.694. The correlation coefficient (CC) between TE and ESG is 0.096 (
Conclusion
in short, the higher the ESG score is, the higher the TE of the enterprise is. Adjusting the Market can affect the TE of enterprises; state-owned enterprises have weaker financing ability.