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Academic Journal of Business & Management, 2024, 6(6); doi: 10.25236/AJBM.2024.060601.

A Study of the Impact of ESG Performance on Enterprise Value—Taking Ming Yang Smart as an Example


Yantao Wang1, Wenyu Guan2

Corresponding Author:
Wenyu Guan

1Business School, Qingdao University of Technology, Qingdao, 266520, China

2Business School, Qingdao University of Technology, Qingdao, 266520, China


With the steady progress of the “double carbon” goal, the concept of ESG sustainable development has been gradually popularized in the capital market, which plays an important role in promoting the enhancement of enterprise value and gradually becomes an important information basis for enterprise managers and market investors to make decisions. New energy wind power enterprise Ming Yang Smart actively responds to the call of the state, is committed to ESG construction, based on the constructed ESG evaluation system, this paper adopts the entropy method to comprehensively score the ESG performance of Ming Yang Smart in the past five years, and uses the gray correlation method to measure the degree of correlation between its ESG performance and enterprise value. From the analysis results, Ming Yang Smart's ESG performance scores improve year by year, and there is a strong correlation between all three dimensions of ESG as well as overall performance and enterprise value, among which the correlation between social responsibility and enterprise value is the highest, so it can be seen that good ESG performance has a positive impact on improving enterprise value, and active fulfillment of social responsibility is conducive to the enhancement of enterprise value. The research in this paper helps to enhance Ming Yang Smart's attention to ESG and provides reference for peers.


ESG; Ming Yang Smart; Enterprise value; Entropy method; Gray correlation analysis

Cite This Paper

Yantao Wang, Wenyu Guan. A Study of the Impact of ESG Performance on Enterprise Value—Taking Ming Yang Smart as an Example. Academic Journal of Business & Management (2024) Vol. 6, Issue 6: 1-8. https://doi.org/10.25236/AJBM.2024.060601.


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