The Impact of ESG Performance on Corporate Value in Listed Sports Companies: The Mediating Role of Intangible Assets and Moderating Role of Policy Environment DOI Open Access
Ying Bai, Zerui Wang, Qi Huang

и другие.

Sustainability, Год журнала: 2025, Номер 17(6), С. 2523 - 2523

Опубликована: Март 13, 2025

This study investigates how ESG (environmental, social, and governance) performance influences the corporate value of publicly listed sports companies in China, with a focus on mediating role intangible assets moderating effect policy environment. Analyzing panel data from 41 A-share firms over 2009–2023 using two-way fixed-effects model, findings reveal that robust significantly enhances by strengthening brand equity optimizing resource allocation. Intangible assets, particularly value, serve as pivotal mediators translating efforts into market value. Furthermore, environment plays critical role: state-owned enterprises (SOEs) exhibit amplified ESG-driven creation due to stronger support advantages. Robustness checks, including an instrumental variable analysis, reinforce reliability these conclusions, highlighting interplay ESG, driving long-term competitiveness within sector. By addressing unique dynamics industry, this research bridges gap sector-specific literature underscores ESG’s strategic importance fostering sustainable business growth. The results provide actionable insights for managers align strategies development policymakers design targeted frameworks incentivize practices.

Язык: Английский

The Impact of ESG Performance on Corporate Value in Listed Sports Companies: The Mediating Role of Intangible Assets and Moderating Role of Policy Environment DOI Open Access
Ying Bai, Zerui Wang, Qi Huang

и другие.

Sustainability, Год журнала: 2025, Номер 17(6), С. 2523 - 2523

Опубликована: Март 13, 2025

This study investigates how ESG (environmental, social, and governance) performance influences the corporate value of publicly listed sports companies in China, with a focus on mediating role intangible assets moderating effect policy environment. Analyzing panel data from 41 A-share firms over 2009–2023 using two-way fixed-effects model, findings reveal that robust significantly enhances by strengthening brand equity optimizing resource allocation. Intangible assets, particularly value, serve as pivotal mediators translating efforts into market value. Furthermore, environment plays critical role: state-owned enterprises (SOEs) exhibit amplified ESG-driven creation due to stronger support advantages. Robustness checks, including an instrumental variable analysis, reinforce reliability these conclusions, highlighting interplay ESG, driving long-term competitiveness within sector. By addressing unique dynamics industry, this research bridges gap sector-specific literature underscores ESG’s strategic importance fostering sustainable business growth. The results provide actionable insights for managers align strategies development policymakers design targeted frameworks incentivize practices.

Язык: Английский

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