Abstract
Nowadays, the development of green industries is the focus of Chinese ecological civilization construction and the main growth point of China's economic development. As an important evaluation index, Emotional, Social and Governance(ESG) rating can not only reflect the development quality of listed enterprises, but also promote corporate social responsibility. At the same time, ESG will convert external costs in the production process of the enterprise into internal costs, affecting the resource allocation of the enterprise, and guiding the enterprise to adopt corresponding sustainable strategies and plans. Therefore, this article focuses on the relationship between ESG and stock pricing ratings. The data in this paper comes from the Wind database and the relevant data of listed companies in the stock market from 2018 to 2022 from the CSMAR database, and through the fixed-effects model, it is concluded that the relationship between corporate ESG and the price-to-book ratio of their stocks is inversely correlated.
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