ESG表现对企业价值的影响研究——以厦门钨业为例

The Impact of ESG Performance on Corporate Value—A Case Study of Xiamen Tungsten

摘要: 在“双碳”目标驱动下与可持续发展理念深化的背景下，环境、社会及治理(ESG)已成为衡量企业高质量发展和长期投资价值的关键维度。本研究以我国厦门钨业作为研究对象，依托其2019~2024年度公开财务报表、ESG报告数据、专业机构评价，梳理企业环境、社会、公司治理三大维度落地举措，并深入分析这些实践对财务绩效的影响效果。研究发现，良好的ESG表现有助于企业保持稳定的盈利水平、稳健的偿债能力和优质的资本市场表现，持续激活企业长期价值创造潜力。

Abstract: Against the backdrop of the “Dual Carbon” goals and the deepening of sustainable development concepts, Environmental, Social, and Governance (ESG) factors have become key dimensions for measuring a company’s high-quality development and long-term investment value. This study takes Xiamen Tungsten Co., Ltd. as its case study, leveraging its publicly available financial statements for the period 2019~2024, ESG reporting data, and evaluations from professional institutions to identify the specific implementation measures adopted across the three ESG dimensions—environmental, social, and corporate governance—and to conduct an in-depth analysis of the impact of these practices on financial performance. The study finds that strong ESG performance helps companies maintain stable profitability, robust debt-servicing capacity, and strong capital market performance, thereby continuously unlocking their long-term value creation potential.