| dc.description.abstract | As global emphasis on sustainable development and carbon trading rights increases, corporate performance in Environmental, Social, and Governance (ESG) has become a key metric for investors when selecting investment targets. This study uses the industrial computer industry listed on Taiwan′s stock and OTC markets from 2018 to 2022 as a sample to investigate how ESG performance affects financial performance and corporate value under the severe impact of the COVID-19 pandemic. It further compares the social responsibility performance of the industry during and outside the pandemic period, examining whether there is a significant difference in its impact on financial performance and corporate value.
The results show that during the period from 2018 to 2022, the overall ESG performance of Taiwan′s industrial computer industry had a significant positive impact on Return on Assets (ROA), Return on Equity (ROE), and Tobin′s Q. However, the ESG performance did not exhibit greater explanatory power for financial performance during the COVID-19 period compared to the non-COVID-19 period. Additionally, although the impact of ESG aspects (environmental, social, governance) on financial performance and corporate value was not significant during the pandemic, the social aspect had a more pronounced positive impact on ROE during the pandemic than outside it.
These findings suggest that corporate social responsibility performance may play an increasingly important role in investor and market evaluations during global public health crises. Future research could further explore how different ESG aspects affect corporate performance under various external pressures, and consider similar studies across different industries or scales for a more comprehensive understanding.
Keywords: ESG, environmental protection, social responsibility, corporate governance, industrial computer industry, COVID-19 | en_US |