辅车相依:ESG实践对企业创新的影响研究  

Corporate ESG performance,macro fiscal policy and corporate innovation

作　　者：王保忠[1] 张翔 WANG Baozhong;ZHANG Xiang(School of Management,Xi’an Polytechnic University,Xi’an 710600,China)

机构地区：[1]西安工程大学管理学院,陕西西安710600

出　　处：《西安理工大学学报》2024年第3期315-324,450,共11页Journal of Xi'an University of Technology

基　　金：陕西省科技厅软科学项目(2020KRM191);陕西省教育厅重点科学研究计划项目(20JZ059)。

摘　　要：新发展阶段,可持续发展已然成为企业科技创新与转型发展的首要目标,环境、社会和治理因素(ESG)对企业高质量发展有着愈来愈重要的作用。基于2009—2021年A股上市公司面板数据,实证分析ESG实践对企业创新发展的作用机制,并探究宏观财税政策因素对二者关系的调节效应。分析结果表明:ESG实践对上市公司创新有正向影响;政府补助和税收优惠政策均能正向调节ESG实践与企业创新之间的关系;异质性研究发现,财税政策对ESG实践与区域创新水平之间的调节作用强度总体呈现出东、中、西部依次递减的格局;进一步分析发现,ESG实践与企业持续性创新之间仍存在正相关关系。据此建议:政府应强化企业ESG理念和建设,规范ESG信息披露标准;根据企业变化动态调整宏观财税政策,并基于地区之间不同的发展目标,设计差异化政府补贴和税收优惠政策。In the new development stage,sustainable development has become aprimary goal for enterprise scientific and technological innovation and transformation and development,with environmental,social and governance factors playing an increasingly important role in the high-quality development of enterprises.Based on the panel data of A-share listed companies from 2009 to 2021,this paper empirically analyzes the mechanism for ESG practices on corporate innovation and development,and explores the moderating effect of macro fiscal and tax policy factors on the relationship between the two.The analytical results show that ESG practices have a positive impact on innovation of listed companies,and that both government subsidies and tax incentives can positively regulate the relationship between ESG practices and corporate innovation.The heterogeneity study found that the intensity of the moderating effect of fiscal and taxation policies on the relationship between ESG practices and regional innovation levels generally shows a pattern of decreasing in the order of east,central and west;further analysis found that there is still a positive correlation between ESG practices and sustained corporate innovation.Accordingly,the government should strengthen corporate ESG concepts and construction,standardize ESG information disclosure standards,dynamically adjust macro fiscal and tax policies according to changes in enterprises,and design differentiated government subsidies and tax incentives based on different development goals between regions.

关 键 词：ESG实践 企业创新水平 政府补助 税收优惠 

分 类 号：F275[经济管理—企业管理]