| dc.description.abstract | This study primarily investigates the types of issues listed on the materiality matrix in corporate sustainability reports, their relative positions, and their relationship with firm value. Additionally, it examines the association between the materiality of issues listed by companies and firm value, specifically considering foreign and domestic
institutional investors. The research manually collects sustainability reports issued by all listed companies in 2020 and 2021, focusing on those containing a materiality matrix. Each company’s issues are categorized into Environmental(E), Social(S), and Governance(G) according to the GRI standards, and their relative positions and proportions within the matrix are analyzed. Four major variable blocks are established: Stakeholder Focus Ratio, Performance Impact Ratio, Alignment Ratio(consistency
between company impact and stakeholder concerns), and Material Issues Ratio. Further analysis is conducted on the proportions of E, S, and G issues within each variable
block.
The findings reveal that the company′s focus on different types of issues and the assessment of their impact and concern levels significantly affect firm value. Governance-related issues, in particular, have a notable impact on firm value. Additionally, the study finds that foreign institutional investors can reduce the likelihood of corporate greenwashing and that their presence interacts with the types of issues the company focuses on, thereby influencing firm value. | en_US |