数字化转型与企业ESG表现——基于资源获取与配置视角  

Digital Transformation and Corporate ESG Performance:Based on the Analysis of Resource Acquisition and Allocation

作　　者：张新月 刘智云 师博[2] ZHANG Xinyue;LIU Zhiyun;SHI Bo(Research Institute of Western China Economic Development,Northwest University,Xi’an 710127,China;School of Digital Economics and Management,Nanjing University,Suzhou 215126,China)

机构地区：[1]西北大学中国西部经济发展研究院,西安710127 [2]南京大学数字经济与管理学院,江苏苏州215126

出　　处：《商业研究》2025年第1期122-131,共10页Commercial Research

基　　金：教育部人文社科重点研究基地重大项目“数字经济赋能西部城市经济高质量发展的机制与政策研究”,项目编号:22JJD790065;国家社科基金后期资助项目“中国经济高质量发展的机理与路径研究”,项目编号:20FJLB026。

摘　　要：数字化转型作为企业可持续发展的重要引擎,其通过资源重构机制赋能ESG表现的内在路径亟待理论阐释。本文基于企业资源编排理论,构建“资源获取-资源配置”双维度分析框架,以2010—2019年中国A股上市公司为样本,实证检验数字化转型对企业ESG表现的影响机制。研究发现,数字化转型显著提升企业环境治理、社会责任履行与公司治理效能。机制分析表明,数字化转型通过拓展融资渠道、强化技术协同网络及优化关系资本配置提升资源获取规模,同时借助创新要素重组、绿色投资倾斜及生产流程再造实现资源配置效率跃升,进而推动企业ESG表现提升。异质性分析表明,数字化转型对融资约束显著、财务风险较高及战略规划短视的企业具有更强的ESG改善效应,突显其促进企业均衡发展的普惠价值。此外,数字化转型通过抑制企业的选择性披露、“漂绿”及策略性创新等行为有效提升ESG信息披露质量。As a pivotal engine for corporate sustainable development,digital transformation necessitates theoretical elucidation on its intrinsic pathways to empower ESG performance through resource reconfiguration mechanisms.Grounded in the theory of corporate resource orchestration,this study constructs a dual-dimensional analytical framework encompassing“resource acquisition-resource allocation”to empirically examine the impact mechanism of digital transformation on corporate ESG performance,utilizing a sample of Chinese listed companies from 2010 to 2019.The findings reveal that digital transformation significantly enhances corporate environmental governance,social responsibility fulfillment,and corporate governance efficacy.Mechanism analysis indicates that digital transformation augments the scale of resource acquisition by expanding financing channels,strengthening technological synergy networks,and optimizing relational capital allocation.Simultaneously,it achieves a leap in resource allocation efficiency through the recombination of innovative elements,green investment inclination,and production process reengineering,thereby driving the improvement of corporate ESG performance.Heterogeneity analysis demonstrates that digital transformation exerts a more pronounced ESG improvement effect on firms with significant financing constraints,higher financial risks,and short-sighted strategic planning,highlighting its inclusive value in promoting balanced corporate development.Furthermore,digital transformation effectively enhances the quality of ESG information disclosure by curbing corporate selective disclosure,greenwashing,and strategic innovation behaviors.

关 键 词：数字化转型 企业ESG表现 资源编排理论 信息披露 

分 类 号：F272.3[经济管理—企业管理]