Based on the quarterly data of China’s A-share listed tourism companies from 2016 to 2022, the impact of ESG(environmental, social, and governance)performance of listed tourism companies on their financial performance was empirically analyzed. The results show that the ESG performance of listed tourism companies has a positive effect on the financial performance of enterprises, the ESG performance promotes the financial performance by reducing the financing constraint. The improvement of ESG performance in the scenic group has less effect on the improvement of corporate financial performance than that of the non-scenic group, and the improvement of ESG performance in the state-owned enterprise group has less effect on the improvement of corporate financial performance than that of the non-state-owned enterprise group.

ESG(environmental, social, and governance) performance  /  financial performance  /  financing constrain