商业银行ESG表现对盈利能力的影响研究  

A Research on the Impact of Commercial Banks’ESG Performance on Profitability

作　　者：王芍 张欣琦 张鑫然 Wang Shao;Zhang Xinqi;Zhang Xinran

机构地区：[1]暨南大学经济学院,广东广州510630 [2]广发银行博士后科研工作站,广东广州510080 [3]湖南大学金融与统计学院,湖南长沙410006 [4]中国人民银行河南省分行,河南郑州450018

出　　处：《金融理论与实践》2024年第2期1-14,共14页Financial Theory and Practice

基　　金：“中国博士后科学基金第72批面上资助“商业银行ESG体系构建、应用与影响后果研究”(2022M720860)”的阶段性研究成果。

摘　　要：运用我国上市商业银行2009年第1季度至2022年第4季度的季度数据,研究了商业银行ESG表现对盈利能力的影响及其作用机制。研究结果表明:商业银行ESG表现能够显著提升盈利能力。作用机制检验结果表明,商业银行的ESG表现可通过降低付息成本和改善资产质量来提升盈利能力。进一步研究发现,商业银行ESG表现的三个支柱(环境、社会、治理)对盈利能力的影响具有显著差异,治理表现提升了商业银行的盈利能力,而现阶段环境表现在一定程度上降低了商业银行盈利能力,社会表现对商业银行盈利能力未表现出显著影响。商业银行ESG表现对盈利能力的提升作用在全国性商业银行以及存贷比较低、储蓄存款占比较高的商业银行中更显著。This paper uses the quarterly data of China’s listed commercial banks from the first quarter of 2009 to the fourth quarter of 2022 to study the impact and mechanism of commercial banks’ESG performance on profitability.The results show that ESG performance of commercial banks can significantly improve profitability.The results of mechanism test show that ESG performance of commercial banks improves profitability by reducing interest payment cost and improving asset quality.Further research finds that the three pillars of ESG performance(environmental,social and governance)of commercial banks have significant differences in their impact on profitability.Governance performance improves the profitability of commercial banks,while environmental performance reduces the profitability of commercial banks to some extent at this stage,and social performance does not show a significant impact on the profitability of commercial banks.The ESG performance of commercial banks has a more significant impact on profitability in national commercial banks and commercial banks with low loan-deposit ratio and high savings deposits ratio.

关 键 词：商业银行 ESG表现 盈利能力 付息成本 资产质量 

分 类 号：F832.33[经济管理—金融学] F830.42[环境科学与工程—环境科学] X196