The impact of ESG disclosure on corporate performance in energy enterprises:An empirical deconstruction based on the dynamic adaptation of green technological innovation and environmental regulation
FU Qiannan
SUN Yiran
Abstract：This study examines the relationship between ESG disclosure and corporate performance among A-share listed energy companies in China from 2014 to 2024.The findings reveal that:① ESG disclosure has a significantly positive impact on corporate performance;② Green technological innovation plays a partial mediating role in the relationship between ESG disclosure and corporate performance;③ Environmental regulation positively moderates the effect of ESG disclosure on corporate performance;④ The dynamic adaptation of environmental regulation and green technological innovation significantly strengthens the promoting effect of ESG disclosure on corporate performance by empowering the transformation of innovation outcomes;⑤ The enhancement effect of ESG information disclosure on corporate performance is more pronounced in non-state-owned enterprises compared to state-owned enterprises;within the energy sector,new energy companies demonstrate a stronger ESG disclosure performance improvement effect than traditional energy enterprises.
Keywords：energy enterprisesESG disclosurecorporate performancegreen technological innovationenvironmental regulation
Publication Date：2025-12-28
Online Publishing Date：2026-01-30(First online date of this platform, not the publication date of the document)
Pages：10( 253-262 )