供应链创新如何影响企业ESG表现?——来自供应链创新与应用试点工作的准自然实验  

How does Supply Chain Innovation Affect Enterprise ESG Performance?--A Quasi-Natural Experiment from Supply Chain Innovation and Application Pilot Work

作　　者：庞瑞芝[1] 王宏鸣 PANG Ruizhi;WANG Hongming(Research Center of Enterprises,Nankai University,Tianjin 300071,China;School of Humanities and Social Sciences,Jiangsu University of Science and Technology,Zhenjiang 212100,China)

机构地区：[1]南开大学企业研究中心,天津300071 [2]江苏科技大学人文社科学院,江苏镇江212100

出　　处：《西安交通大学学报(社会科学版)》2025年第1期13-26,共14页Journal of Xi'an Jiaotong University:Social Sciences

基　　金：国家社会科学基金重点项目(21AJY012);国家社会科学基金重大项目(21&ZD099)。

摘　　要：如何推动企业践行环境、社会和治理(ESG)理念是中国经济高质量发展下的重要议题。将2018年开展的供应链创新与应用试点工作视为一项准自然实验,以2012—2020年中国A股上市公司数据为样本,借助双重差分法实证考察供应链创新对企业ESG表现的影响及其内在机理。研究发现:供应链创新显著提升了企业ESG表现;异质性分析表明,对于国有企业、高竞争行业以及供应链地理邻近的企业,供应链创新对其ESG表现的提升作用更为明显;进一步研究表明,供应链创新主要通过融资效应、信息披露效应以及绿色创新效应提升了企业ESG表现;此外,供应链创新与应用试点企业对上游供应商的ESG责任履行具有后向溢出效应。据此提出提供和完善有利于供应链创新与企业战略转型融合的制度供给、加快建设面向可持续发展的ESG制度体系、营造激励相容的外部市场环境、推动绿色供应链协同机制建设等政策建议。In the post-COVID-19 era,the concept of environmental,social and governance(ESG)development has garnered unprecedented global attention.However,many Chinese enterprises,driven by the pursuit of maximizing shareholder value,face significant challenges in their ESG practices,including a lack of incentives,limited capabilities,and high implementation costs.These issues have significantly hindered their ESG performance.While the rise of new-generation information technologies has transformed traditional supply chains into modern,digitally-driven networks,there is still a lack of empirical research on whether supply chain innovations,particularly those focused on intelligent transformation and inter-organizational integration,can effectively enhance ESG performance in these enterprises.This paper takes the 2018 pilot program on supply chain innovation and application as a quasi-natural experiment.Using data from China’s A-share listed companies from 2012 to 2020,it empirically examines the impact of supply chain innovation on corporate ESG performance and its underlying mechanisms through a difference-in-difference model.The findings reveal that supply chain innovation significantly enhances corporate ESG performance,and this conclusion remains robust after parallel trend tests,placebo tests,and various other robustness checks.Heterogeneity analysis indicates that the positive impact of supply chain innovation on ESG performance is more pronounced in state-owned enterprises,highly competitive industries,and firms with geographically concentrated supply chains.Further research shows that the improvement in ESG performance is primarily driven by financing,information disclosure,and green innovation effects.Additionally,supply chain innovation and application pilot enterprises exert a backward spillover effect on the ESG responsibilities of upstream suppliers.Building on existing research,this paper extends contributions in three aspects.First,it enriches the literature on supply chain management and ESG performance.Wh

关 键 词：供应链创新 ESG 融资效应 信息披露效应 绿色创新效应 高质量发展 

分 类 号：X322[环境科学与工程—环境工程] F832.51[经济管理—金融学]