Can Energy Management Systems Improve the Performance of Industrial Enterprises?

At present, China is the world's largest energy consuming country and industrial manufacturing country, especially industrial enterprises are the main energy consumers. The steel industry occupies an important position in China's national economy, and has the characteristics of high energy consumption, high pollution and high emissions. Therefore, based on the perspective of energy management, this paper selects 54 large-scale steel companies from China Iron and Steel Association from 2009 to 2017 as a sample, and applies the SBM super-efficiency model that includes undesired output and the differences-in-differences (DID) method to explore the impact of companies implementing energy management systems on corporate performance. The empirical results show that: the implementation of energy management system has a positive impact on enterprise performance. Moreover, the impact of energy management system on economic performance is greater than that on environmental performance. Through the analysis of regional heterogeneity and ownership heterogeneity, it is further found that the implementation of energy management system in eastern region enterprises and stateowned enterprises has a more obvious impact on enterprise performance. The results of this paper can encourage those managers who want to apply energy management system in enterprises to achieve sustainable development, so as to improve the efficiency and results of energy management.