Academic Journal of Business & Management, 2025, 7(2); doi: 10.25236/AJBM.2025.070211.
Yunqi Fan, Cong Wang
Business School, University of Shanghai for Science and Technology, Shanghai, 200093, China
As China continues to place increasing emphasis on sustainable development, the new energy vehicle (NEV) industry has emerged as a critical sector driving the transition to a greener economy. Environmental, Social, and Governance (ESG) practices have become pivotal factors influencing the competitiveness and financial health of enterprises within this sector. Using a sample of NEV manufacturing companies listed on the A-share and Hong Kong stock markets between 2016 and 2023, this study employs an empirical analysis to uncover the mechanisms by which ESG performance across various dimensions impacts corporate financial performance. The findings reveal a significant positive correlation between ESG practices and financial performance. It is further demonstrated that continuous improvements in environmental protection, social responsibility fulfillment, and corporate governance by NEV enterprises can contribute to enhanced financial performance and long-term sustainable development.
New Energy Vehicles, ESG Practices, Financial Performance
Yunqi Fan, Cong Wang. The Impact of ESG Practices on the Financial Performance of New Energy Vehicle Manufacturing Enterprises. Academic Journal of Business & Management (2025), Vol. 7, Issue 2: 82-88. https://doi.org/10.25236/AJBM.2025.070211.
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