Will enterprise technological innovation enhance the value of energy-based enterprises? ——Analysis of the Moderating Effect Based on ESG Information Disclosure

Abstract

Facing the stage of high-quality economic development, energy-based enterprises not only need to improve their energy development technological innovation capabilities, but also actively face the transition to green, low-carbon and sustainable development. Technological innovation realizes the continuous accumulation of corporate value by innovating production technology and improving production efficiency. The ESG concept focuses on the three dimensions of environmental protection, fulfillment of social responsibilities and corporate governance, and helps companies cultivate green and sustainable development capabilities. Based on the two new development concepts of “innovation” and “green” as the research starting point, the article selects 208 listed energy-based companies in A-shares from 2015 to 2019 as the research sample, and uses empirical research to test the impact of corporate technological innovation and ESG information disclosure on energy. The impact of the value of the type of enterprise. The empirical results show that both corporate technological innovation and good ESG information disclosure have positive value creation effects; at the same time, good ESG information disclosure by energy- based companies can further enhance the value creation of technological innovation. At the end of the article, it also puts forward relevant suggestions for energy-based enterprises to improve their technological innovation capabilities and enhance environmental protection awareness.