经济政策不确定性感知与企业绿色行为——基于环保责任与“漂绿风险”双重视角  

Perception of Economic Policy Uncertainty and Corporate Green Behavior

作　　者：王惠 揭昌亮 Wang Hui;Jie Changliang

机构地区：[1]山东社会科学院经济研究所,山东济南250002 [2]江西省社会科学院经济研究所,江西南昌330077

出　　处：《企业经济》2024年第12期132-142,共11页Enterprise Economy

基　　金：山东省自然科学基金“产品经营和资本经营之间的资本错配:成因、经济后果和化解对策”(项目编号:ZR2020MG032)。

摘　　要：基于2010—2022年中国A股上市公司数据,探讨经济政策不确定性感知对企业绿色行为的影响。研究发现,经济政策不确定性感知不仅提升了企业环保责任,也加剧了企业“漂绿风险”。机制检验表明,经济政策不确定性感知通过增强企业合法性和供应链安全动机促使企业提升环保责任,通过放大资源节约动机加剧“漂绿风险”。异质性检验发现,经济政策不确定性感知上升时,国有企业和竞争性行业的环保责任提升更明显,而非国有企业和非竞争性行业“漂绿风险”上升更显著。提升管理层环保意识、强化绿色信用体系建设能抑制“漂绿风险”的上升。研究提出稳定企业政策预期、构建绿色行为监督机制、重视环保责任的保险效应等措施,为践行绿色发展理念提供启示。Based on the data of China's A-share listed companies from 2010 to 2022,this paper explores the impact of perceived economic policy uncertainty on corporate green behavior.It is found that the perception of economic policy uncertainty not only enhances the environmental responsibility of enterprises,but also intensifies the"greenwashing risk"of enterprises.The mechanism test shows that the perception of economic policy uncertainty promotes enterprises to enhance their environmental responsibility by strengthening the legitimacy of enterprises and supply chain security motivation,and intensifies the"risk of green bleaching"by amplifying the motivation of resource saving.The heterogeneity test shows that when the perception of economic policy uncertainty increases,the environmental responsibility of state-owned enterprises and competitive industries increases more significantly,while the"greenwashing risk"of non-state-owned enterprises and non-competitive industries increases more significantly.Raising the environmental awareness of management and strengthening the construction of a green credit system can curb the rise of"greenwashing risk".The study proposes measures such as stabilizing corporate policy expectations,building a green behavior supervision mechanism,and attaching importance to the insurance effect of environmental responsibility,so as to provide inspiration for the practice of green development concept.

关 键 词：经济政策不确定性感知 绿色行为 环保责任 漂绿风险 

分 类 号：F812[经济管理—财政学] F272