ESG对企业创新影响研究——基于信息约束的中介效应检验  

Research on the Impact of ESG on Corporate Innovation——A Mediation Effect Test Based on Information Constraints

作　　者：胡敏华[1] 沐贤峰 HU Minhua;MU Xianfeng(School of Business Administration,Anhui University of Finance and Economics,Bengbu 233030,China)

机构地区：[1]安徽财经大学工商管理学院,安徽蚌埠233030

出　　处：《福建商学院学报》2023年第3期41-50,共10页Journal of Fujian Business University

基　　金：安徽财经大学研究生科研创新基金项目“ESG对企业创新的影响机制研究:一个基于信息约束视角”(ACYC2021135)。

摘　　要：以2012—2020年中国A股非金融上市公司为样本,选择信息约束作为中介变量,实证检验了企业ESG表现的创新效应。研究表明:企业ESG表现显著提升了企业创新水平,信息约束在上述影响中起到了部分中介作用;企业ESG表现对企业创新投入的正向影响在东部、国有、高环境敏感性行业企业中表现更突出,而对企业创新产出的影响作用则相反。应完善政府监管部门制度供给,加快构建ESG考评标准体系,强化企业ESG建设和信息披露,切实提升企业创新投入与产出水平。Taking China’s A-share non-financial listed companies from 2012 to 2020 as a sample,information constraints were selected as intermediary variables,and the innovation effect of ESG performance of enterprises was tested by regression model.The results show that corporate ESG performance significantly improves the level of corporate innovation,and information constraints play a part-mediating role in the above influence.The heterogeneity study shows that the positive impact of corporate ESG performance on corporate innovation investment is more prominent among enterprises in eastern,state-owned and highly environmentally sensitive industries,while the impact on corporate innovation output is the opposite.It is necessary to improve the system supply of government regulatory departments,accelerate the construction of ESG evaluation standard system,strengthen corporate ESG construction and information disclosure,and effectively improve the level of enterprise innovation input and output.

关 键 词：企业ESG表现 信息约束 企业创新 可持续发展 

分 类 号：F271[经济管理—企业管理]