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Environmental, Social, and Governance Performance, Platform Governance, and Value Creation of Platform Enterprises

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  • Ruixin Su

    (School of Economics and Management, Chang’an University, Middle Section of Nan Er Huan Road, Xi’an 710064, China)

  • Na Li

    (School of Economics and Management, Chang’an University, Middle Section of Nan Er Huan Road, Xi’an 710064, China)

Abstract

Under the concepts of sustainable development and a sharing economy, the ESG performance of platform enterprises has played a significant role in measuring the operating status and responsible investment of platform enterprises. Platform enterprises have different typical characteristics from traditional enterprises. The mechanisms of ESG and financial performance needs to be further explored. The empirical analysis finds that: (1) the ESG performance of platform enterprises and its S index and G index has a positive impact on corporate financial performance. (2) Media attention plays a positive moderating role between the ESG and ROA. (3) Platform data governance and platform reputation governance are two internal and external paths for platform enterprises’ ESG performance to improve financial performance. (4)There is heterogeneity in the relationship between ESG and ROA in terms of platform enterprise scale and platform type. Based on the above conclusions, this paper provides reference experience for the ESG governance and value creation of platform enterprises.

Suggested Citation

  • Ruixin Su & Na Li, 2024. "Environmental, Social, and Governance Performance, Platform Governance, and Value Creation of Platform Enterprises," Sustainability, MDPI, vol. 16(17), pages 1-21, August.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:17:p:7251-:d:1462335
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    2. Ying Han & Lei Xie, 2025. "Sustainable Governance of Digital Platform Ecosystem: A Life Cycle Perspective Through Multiple Governance Parties," Sustainability, MDPI, vol. 17(8), pages 1-24, April.

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