Proceedings of the 2025 6th International Conference on Big Data and Social Sciences (ICBDSS 2025)

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Research on the Impact of ESG Performance of Electric Power Enterprises on Enterprise Financing Costs

Authors
Xupeng Wang1, *, Longfeng Wang1, Yafang Zhu2
1State Grid Energy Research Institute Co., LTD, Beijing, 102209, China
2State Grid Fujian Electric Power Company Economic and Technical Research Institute, Fuzhou, 350003, China
*Corresponding author. Email: wangxupeng@sgeri.sgcc.com.cn
Corresponding Author
Xupeng Wang
Available Online 26 February 2026.
DOI
10.2991/978-94-6239-598-5_4How to use a DOI?
Keywords
Financing Cost; Power Companies; ESG Performance
Abstract

This paper empirically examines the impact of ESG performance of power enterprises on their financing costs by constructing A fixed-effect model, combining the generalized moment estimation method of the system and the instrumental variable analysis method, based on 451 listed companies of A-share and H-share power enterprises from 2009 to 2024. The research results show that improving the ESG performance of enterprises is conducive to reducing the debt and equity financing costs of power enterprises. However, there are differences for power enterprises of different energy types. The ESG performance of new energy power enterprises has a greater promoting effect on reducing financing costs. Based on this, this paper puts forward relevant suggestions for traditional energy power enterprises and new energy power enterprises to improve ESG performance and reduce financing costs.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 6th International Conference on Big Data and Social Sciences (ICBDSS 2025)
Series
Advances in Computer Science Research
Publication Date
26 February 2026
ISBN
978-94-6239-598-5
ISSN
2352-538X
DOI
10.2991/978-94-6239-598-5_4How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xupeng Wang
AU  - Longfeng Wang
AU  - Yafang Zhu
PY  - 2026
DA  - 2026/02/26
TI  - Research on the Impact of ESG Performance of Electric Power Enterprises on Enterprise Financing Costs
BT  - Proceedings of the 2025 6th  International Conference on Big Data and Social Sciences (ICBDSS 2025)
PB  - Atlantis Press
SP  - 25
EP  - 32
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6239-598-5_4
DO  - 10.2991/978-94-6239-598-5_4
ID  - Wang2026
ER  -