Today’s interconnected environment is characterized by ESG (environmental, social, and corporate governance), networks of people, organizations, and devices that are continuously interacting, conversing, and exchanging information. These forms of communication indicate that information sharing, signaling, and brand value creation have evolved in the past decade. This study examines brand valuation through two fundamental questions: (1) What ESG achievements do firms share and signal information about? and (2) How do firms share and signal this information in today’s interconnected environment? We find that automotive brands signal their ESG achievements in products, people, and a history of financial performance. These brands signal to consumers by communicating advertising spending, research and development investments, social media participation, ESG reputation, and appropriate linguistic styles. Automotive brands can signal ESG information for brand valuation directly and interactively through social media, the latter of which provides evidence of brand value co-creation.

当今互联环境的特点是 ESG（环境、社会和公司治理）、不断交互、交流和交换信息的人员、组织和设备网络。这些交流形式表明信息共享、信号传递和品牌价值创造在过去十年中得到了发展。本研究通过两个基本问题来检验品牌估值：(1) 公司共享和传递信息的 ESG 成就是什么？(2) 在当今互联的环境中，公司如何共享和传递这些信息？我们发现汽车品牌表明了他们在产品、人员和财务业绩历史方面的 ESG 成就。这些品牌通过传达广告支出、研发投资、社交媒体参与、ESG 声誉和适当的语言风格。汽车品牌可以通过社交媒体直接和互动地传递用于品牌估值的 ESG 信息，后者提供了品牌价值共创的证据。