企业ESG表现与商业信用供给——基于客户视角的经验证据  

ESG Performance and Trade Credit Supply:the Empirical Evidence from a Customer Perspective

作　　者：刘漾 章颖薇[1] LIU Yang;ZHANG Yingwei(College of Finance and Economics,Jimei University,Xiamen 361021,China)

机构地区：[1]集美大学财经学院,福建厦门361021

出　　处：《湖南工程学院学报(社会科学版)》2024年第3期37-45,共9页Journal of Hunan Institute of Engineering(Social Science Edition)

基　　金：厦门市社科联重大项目“厦门市要素市场化配置改革的对策研究”(厦社科研[2023]A01号);福建省社会科学基金重点项目“金融科技赋能商业银行支持中小企业高质量发展的微观机制与实现路径研究”(FJ2023MGCA018)

摘　　要：基于2012—2022年我国沪深A股上市公司的非平衡面板数据,实证检验了企业ESG表现与商业信用供给之间的关系。研究发现:企业ESG表现可以显著降低企业的商业信用供给。对其中的影响机制检验发现,当企业披露的ESG表现越好时,其客户稳定性越高,企业出于经营性动机被迫提供商业信用的程度就越低。进一步研究显示,国有企业和处于竞争不激烈行业的企业履行ESG责任对商业信用供给的负向作用更显著。Based on the unbalanced panel data of companies listed on the Shanghai and Shenzhen A-shares from 2012 to 2022,this study empirically tests the relationship between ESG performance and trade credit supply.The findings highlight that superior ESG performance can markedly diminish a company’s trade credit offerings.A closer analysis reveals that as a company’s disclosed ESG performance improves,the loyalty and stability of its customer base increase,leading to a reduced inclination to extend trade credit for operational purposes.Further research shows that state-owned enterprises and those in less competitive sectors demonstrate a more pronounced negative correlation between ESG performance and trade credit supply.

关 键 词：ESG表现 商业信用供给 经营性动机 客户关系 

分 类 号：F275.6[经济管理—企业管理]