ESG表现对上市公司绩效的影响研究——基于研发投入的中介效应  

The Impact of ESG Performance on the Corporate Performance of Listed Companies—The Mediating Effect Based on R&D Investment

作　　者：张艳辉[1] 李晓彤 ZHANG Yan-hui;LI Xiao-tong(School of Economics and Law,Shijiazhuang Tiedao University,Shijiazhuang 050000;School of Management,Shijiazhuang Tiedao University,Shijiazhuang 050000)

机构地区：[1]石家庄铁道大学经济与法律学院 [2]石家庄铁道大学管理学院

出　　处：《财务与金融》2023年第4期65-71,共7页Accounting and Finance

摘　　要：随着高质量发展成为我国新的发展目标,再加上可持续发展的观念深入人心,ESG表现逐渐成为衡量企业可持续发展的一个重要指标,其对企业财务绩效的影响也是一个值得探究的问题。以我国2016-2021年678家A股上市公司为样本,考虑研发投入的中介效应,研究ESG表现与财务绩效之间的关系。结果表明:良好的ESG表现对企业的财务绩效有显著的积极影响,且研发投入在两者之间发挥了中介效应。进一步分析发现,良好的ESG表现对大规模企业财务绩效的影响更大。With high-quality development becoming China's new development goal,and the concept of sustainable development being deeply rooted in the public,ESG performance has gradually become an important indicator to measure the sustainable development of enterprises,and its impact on corporate financial performance is also a question worth exploring.Taking 678 A-share listed companies in China from 2016 to 2021 as samples,this paper studies the relationship between ESG performance and financial performance,considering the mediating effect of R&D investment.The results show that good ESG performance has a significant positive impact on corporate financial performance,and R&D investment plays a partial mediating effect between the two.Further analysis shows that good ESG performance has a greater impact on the financial performance of large-scale enterprises.

关 键 词：ESG 财务绩效 研发投入 

分 类 号：F230[经济管理—会计学]