Research on The Influence of ESG Information Disclosure on Enterprise Financial Risk

Abstract

Based on the data of Chinese A-share pharmaceutical industry companies from 2017 to 2020, this paper analyzes the impact of ESG information disclosure on financial risk. The results show that good ESG information disclosure can significantly reduce the financial risk of enterprises. The effect of ESG information disclosure on financial risk control of non-state-owned enterprises is more prominent, and the higher the degree of marketization, the more obvious the positive effect.