Keywords
ESG performance
Principal component analysis
Regression analysis
Strategic triangle view
Submitted : 2026-05-04
Accepted : 2026-05-19
Published : 2026-06-03
Abstract
Improving ESG performance is not only a national policy requirement, but also an inherent need for the long-term development of construction enterprises. Focusing on construction enterprises, this study sorts out relevant research on corporate ESG performance from the theoretical perspective of the strategic triangle view and summarizes 18 influencing factors. Combining principal component analysis and regression analysis, this paper quantitatively analyzes 18 factors affecting the ESG performance of construction enterprises using objective data of all A-share listed construction enterprises from 2019 to 2023, extracts 6 key influencing factors, and analyzes their influence degrees. Finally, relevant suggestions are put forward based on the analysis results.
References
Yan W, Zhao Y, Meng D, 2023, Research on the Impact of ESG Ratings on the Financial Performance of Listed Companies. Journal of Nanjing Audit University, 20(6): 71–80.
Tian P, 2021, Analysis of Key Points of Project Management in Civil Engineering Construction Process. Popular Standardization, 2021(7): 163–165.
Sustainable Development of the Construction Industry: Construction Achievements Benefit People’s Livelihood: Series Reports on Economic and Social Development Achievements in New China over 75 Years (Construction Industry Chapter). Architecture, 2024(9): 61–65.
He Y, Luo Q, 2018, Environmental Regulation, Technological Innovation and Industrial Total Factor Productivity: A Re-test of the “Strong Porter Hypothesis”. Soft Science, 32(4): 20–25.
Wang M, Xu P, He J, 2025, The Impact of Control Rights Allocation on Corporate ESG Performance Under the Background of Digital Economy. Finance and Accounting Monthly, 2025(8): 44–51.
Liu G, Tang Y, Yin J, 2024, The Influence Mechanism of Corporate Social Responsibility on Performance from the Perspective of Analyst Attention: Research Based on Machine Learning and Text Analysis. China Soft Science, 2024(2): 156–166.
Pan J, Pan Y, Ma Y, 2019, Valuing “Harmony”? Cooperation Culture and Enterprise Innovation. Journal of Financial Research, 2019(1): 148–167.
Fiordelisi F, Ricci O, Salvatore P, 2014, Corporate Culture and CEO Turnover. Journal of Corporate Finance, 2014(28): 66–82.
Yuan R, Li R, Xia S, 2019, Strategic Deviation and Corporate Tax Avoidance. Accounting Research, 378(4): 74–80.
Zhang W, Tang F, 2023, The Impact of Supply Chain Concentration on the Performance of Circulation Enterprises. Logistics Technology, 2023(3): 86–91.
Mao Y, 2025, The Stability of Customer Relationships and the Debt Financing Capacity of Listed Companies: Analysis Based on an Inverted U-shaped Relationship. Enterprise Economy, 2025(5): 60–67.
Fang X, 2024, VAT Refund for Remaining Input Tax, R&D Innovation and Corporate ESG Performance. Friends of Accounting, 2024(13): 133–140.
Li Y, 2025, Can Banking Competition Promote Corporate Green Innovation? Based on the Perspective of Financing Constraints. Communication of Finance and Accounting, 978(22): 80–84.
Tang T, Ma C, 2025, The Influence Mechanism of Resource Allocation on the Transformation and Upgrading of Manufacturing Enterprises: Based on the Mediating Effect of Technological Niche. Technoeconomics & Management Research, 2025(5): 107–113.
Tian L, Zhang J, 2024, CEO Entrepreneurial Experience and Enterprise Resource Allocation: An Empirical Study Based on Imprinting Theory. Nankai Business Review, 2024(1): 190–201.
Lo F, Huarng J, Lin C, 2019, Entrepreneur Subsidiary of Business Groups from Emerging Markets: A Multi-level Perspective. International Entrepreneurship and Management Journal, 15(2): 471–483.
An W, Xu Y, Zhang J, 2018, Resource Constraints, Innovation Capability and Corporate Financial Fraud in Entrepreneurial Firms. Emerald, 12(1): 2–18.
Luo C, Zeng S, 2022, The Impact of the “Belt and Road” Construction on Factor Allocation Efficiency: Research Based on Chinese Listed Industrial Enterprises. Journal of Financial Research, 2022(7): 154–170.
Wu F, Hu H, Lin H, et al., 2021, Enterprise Digital Transformation and Capital Market Performance: Empirical Evidence from Stock Liquidity. Management World, 2021(7): 130–144+10.
Zhou K, Ma Z, Wu L, 2017, Executives’ Academic Experience and Corporate Debt Financing Cost. Economic Research Journal, 52(7): 169–183.