guuvestВестник университетаVestnik Universiteta1816-42772686-8415State University of Management10.26425/1816-4277-2024-6-112-120guuvest-5377Research ArticleЭКОНОМИКА: ПРОБЛЕМЫ, РЕШЕНИЯ И ПЕРСПЕКТИВЫECONOMICS: PROBLEMS, SOLUTIONS AND PROSPECTSУстойчивый рост как следствие реализации концепции устойчивого развития китайских компанийSustainable growth as a result of implementing the concept of sustainable development of Chinese companieshttps://orcid.org/0000-0003-3466-8212ВолодинаА. О.VolodinaA. O.

Анастасия Олеговна Володина, канд. экон. наук, доц.

каф. финансов и кредита

Москва

Anastasia O. Volodina, Cand. Sci. (Econ.), Assoc. Prof.

Finance and Credit Department

Moscow

ao_volodina@guu.ruhttps://orcid.org/0000-0002-2923-4316ТраченкоМ. Б.TrachenkoM. B.

Марина Борисовна Траченко, д-р экон. наук, проф.

каф. финансов и кредита

Москва

Marina B. Trachenko, Dr. Sci. (Econ.), Prof.

Finance and Credit Department

Moscow

mb_trachenko@guu.ruГосударственный университет управленияРоссияState University of ManagementRussian Federation20241708202406112120Copyright © Володина А.О., Траченко М.Б., 20242024Володина А.О., Траченко М.Б.Volodina A.O., Trachenko M.B.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://vestnik.guu.ru/jour/article/view/5377

   В статье рассмотрены две актуальные в настоящее время концепции – устойчивого развития и устойчивого роста. Посредством анализа факторов устойчивого роста 48 ESG-ориентированных листинговых китайских компаний за период 2020–2022 гг. авторами было доказано, что следование концепции устойчивого развития позволяет обеспечивать устойчивый рост деятельности компаний. У ESG-ориентированных компаний наблюдаются увеличение уровня генерируемой прибыли и рентабельности, а также снижение показателя соотношения заемного и собственного капитала, что положительно характеризует их деятельность. Выявлено превышение фактического роста таких компаний над устойчивым, что не приводит к негативным последствиям деятельности за анализируемый период, а также не повышает риски, связанные с необходимостью наращивания долгового капитала для обеспечения выявленного роста. Результаты исследования позволяют сделать вывод о необходимости разработки нового инструментария или интеграции двух рассмотренных концепций для обеспечения возможностей компаний достигать поставленных целей в области устойчивого развития без ущерба фундаментальным финансовым показателям деятельности. Результаты исследования могут быть использованы компаниями, которые уже следуют концепции устойчивого развития, а также теми, которые находятся только на начальной стадии разработки и внедрения ESG-показателей в свою деятельность, инвесторами при выборе объекта инвестиций и учеными в ходе исследований, посвященных теме устойчивого развития и устойчивого роста.

   The article discusses two currently relevant concepts such as sustainable development and sustainable growth. By analyzing the sustainable growth factors of 48 ESG-oriented listed Chinese companies for the period 2020–2022, the authors have proved that following the sustainable development concept can ensure the sustainable growth of companies’ performance. ESG- oriented companies show an increase in the level of generated profits and profitability, as well as a decrease in the debt-equity ratio, which positively characterizes their performance. Excess of actual growth of such companies over sustainable growth has been revealed, which does not lead to negative consequences of the activity for the analyzed period, and also does not increase the risks associated with the need to increase debt capital to ensure the identified growth. The study concludes that it is necessary to develop a new toolkit or integrate the two concepts considered to ensure the ability of companies to achieve their sustainability goals without compromising fundamental financial performance. The study results can be used by companies that are already following the sustainable development concept, as well as by those ones that are only at the initial stage of developing and implementing ESG indicators in their operations, by investors when selecting an investment target and by academics in the course of research devoted to the topic of sustainable development and sustainable growth.

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The authors declare that there are no conflicts of interest present.