ESG表现与企业全要素生产率关系研究  

Research on the relationship between ESG performance and total factor productivity

作　　者：郝晓雁 姚瑞珍 HAO Xiao-yan;YAO Rui-zhen(Shanxi University of Finance and Economics,Taiyuan 030006,China)

机构地区：[1]山西财经大学,山西太原030006

出　　处：《经济论坛》2022年第5期130-144,共15页Economic Forum

基　　金：山西省社科联2015-2016年度重点课题(SSKLZDKT2015037)。

摘　　要：ESG可助力实现“双碳”目标和推动企业高质量发展。文章以2009-2020年3549家A股上市公司为样本,运用固定效应模型和中介效应模型实证研究ESG表现与企业全要素生产率的关系。研究结果表明,ESG表现对企业全要素生产率具有促进作用。基于地区和行业竞争视角结果表明,对于中西部地区、处于高竞争行业的企业促进作用更为明显。进一步研究表明,ESG表现通过提高创新水平和降低非效率投资行为来促进企业全要素生产率的提高。ESG can contribute to achieving the“dual carbon”goal and promote the corporate high-quality development.This paper takes 3549 A-share listed companies from 2009 to 2020 as a sample,and uses the fixed effect model and the mediation effect model to empirically study the relationship between ESG performance and corporate total factor productivity.The study results show that ESG performance has a promoting effect on corporate total factor productivity.Based on the perspective of regional and industry competition,the results show that the promotion effect is more obvious for enterprises in the central and western regions and in highly competitive industries.Further research shows that ESG performance promotes the improvement of the corporate total factor productivity by heightening the level of innovation and lowering inefficient investment behavior.This study provides theoretical support and practical inspiration for Chinese enterprises realizing green transformation,breaking through development bottlenecks and achieving high-quality development.

关 键 词：ESG表现 企业全要素生产率 高质量发展 技术创新 非效率投资行为 

分 类 号：F230[经济管理—会计学]