ESG Disclosure and High-Quality Corporate Development

As the concept of sustainable development progress, enterprises need to balance economic and social benefits and achieve high-quality economic development as micro-entities. Moreover, ESG is closely related to high-quality corporate development as an essential tool to achieve high-quality economic development. This paper empirically examines the relationship between ESG information disclosure and the high-quality development of enterprises based on the entropy-weighted TOPSIS method, using a sample of Chinese A-share listed companies from 2009 to 2020. It is found that ESG disclosure can promote high-quality corporate development by facilitating corporate innovation. Heterogeneity tests show that ESG disclosure’s effect on enterprises’ high-quality development is more significant in non-state enterprises and regions with a high degree of marketization.