社会责任信息披露、媒体关注与企业价值
Social Responsibility Information Disclosure, Media Attention and Corporate Value
摘要: ESG信息披露是指环境(E)、社会(S)和公司治理(G)三方面信息的披露，能够衡量企业在绿色可持续发展方面所做的努力。企业的ESG披露对企业的价值产生何种影响是目前亟需回答的热点问题。本文使用2011~2020年沪深A股上市公司数据的非平衡面板数据，通过多元线性回归模型实证分析了ESG披露对企业价值的作用以及媒体关注在其中的调节效应。研究结果表明：ESG披露程度越透明的公司趋向于拥有更高的企业价值；媒体关注对企业价值和ESG披露起到负向调节的作用。
Abstract: ESG information disclosure refers to the disclosure of environmental (E), social (S) and corporate governance (G) information, which can measure the efforts of enterprises in green and sustainable development. What impact a company’s ESG disclosure has on the company’s value is a hot issue that urgently needs to be answered. Using the unbalanced panel data of Shanghai and Shenzhen A-share listed companies from 2011 to 2020, this paper empirically analyzes the effect of ESG disclosure on corporate value and the moderating effect of media attention through multiple linear regression models. The research results show that companies with more transparent ESG disclosure tend to have higher corporate value; media attention has a negative regulatory effect on corporate value and ESG disclosure.
文章引用：谢枝芬. 社会责任信息披露、媒体关注与企业价值[J]. 运筹与模糊学, 2023, 13(4): 3045-3052. https://doi.org/10.12677/ORF.2023.134305

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