ESG performance, biomechanical technologies on sustainable growth of sports firms
Abstract
In today’s complex and volatile world economic situation, extending the life cycle of sports enterprises and maintaining sustainable growth is a top priority for enterprise development. Under the background of advocating high-quality development, sports enterprises practicing ESG development concept can help realize sustainable growth. This paper empirically examines the impact of ESG performance on the sustainable growth rate of sports enterprises through the panel data of A-share sports listed companies in 2018–2022, and finds that good ESG performance can significantly enhance the sustainable growth rate of sports enterprises, and the enterprise’s R&D investment in biomechanical technology has a certain promotion effect on the relationship between the impact of ESG performance and the sustainable growth rate of sports enterprises by grouping the enterprise group regression according to industry and property rights to further derive the results of heterogeneity analysis. The results found that ESG performance has a significant positive impact on the sustainable growth rate of both sporting goods enterprises and non-state-owned enterprises. Therefore, this paper concludes that sports enterprises should actively practice the ESG development concept to ensure sustainable growth, extend the enterprise life cycle, promote the high-quality development of the sports industry, and form a virtuous cycle of economic development.
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