| dc.description.abstract | In recent years, with the rise of sustainable development concepts, the ESG (Environmental, Social, and Government) indicators of businesses have gradually attracted attention and have become an important consideration for investors when selecting investment targets. This study, using the accommodation industry in Taiwan listed on the stock exchange from 2015 to 2021 as the sample, exploring the correlation between the industry′s overall ESG and financial performance and corporate value under the severe impact of COVID-19. Considering the accommodation industry′s operations being subject to numerous restrictions due to the pandemic and its characteristics of serving people and being a labor-intensive sector, the study further explores whether the social dimension performance of Taiwan′s accommodation industry during the COVID-19 period, in conjunction with government subsidy measures, has a more significant positive explanatory power for its financial performance and corporate value compared to the non-COVID-19 period. The study found that in the Taiwan accommodation industry from 2015 to 2021, the overall ESG performance has a significant positive impact on ROA (Return on Assets), ROE (Return on Equity) and Tobin′s Q. However, the overall ESG performance of the Taiwan accommodation industry during COVID-19 does not have a more significant positive marginal explanatory power for its financial performance compared to the non-COVID-19 period. Additionally, during the COVID-19 period, while the performance of the enterprise environment, social and government dimensions were examined simultaneously, the impact on financial performance and company value was not significant. However, the performance in the social aspect had a positive impact on ROE (Return on Equity) during the pandemic period compared to the non-pandemic period in terms of coefficient direction. | en_US |