制造业企业ESG表现降低企业碳排放强度了吗?——媒体关注的中介作用  

Has the ESG Performance of Manufacturing Enterprises Reduced Their Carbon Emission Intensity?——The Mediating Role of Media Attention

作　　者：侯柳茹 武勇杰[1] 原悦 HOU Liuru;WU Yongjie;YUAN Yue(School of Economics and Management,North University of China,Taiyuan 030051,China)

机构地区：[1]中北大学经济与管理学院,山西太原030051

出　　处：《中北大学学报(社会科学版)》2025年第2期150-156,共7页Journal of North University of China:Social Science Edition

基　　金：山西省科技战略研究专项:强化山西省企业创新主体地位研究(202204031401002)。

摘　　要：在碳达峰、碳中和的时代大背景下,ESG相关概念受到更多关注,从企业ESG角度助力双碳目标的实现是值得探讨和研究的主题。本文以2009年—2021年A股制造业上市企业为样本,利用固定效应模型,分析企业ESG表现对企业碳排放强度的影响,探讨媒体关注的中介作用。研究结果发现:企业ESG表现对企业碳排放强度具有显著的负向影响,同时,媒体关注在企业ESG表现降低企业碳排放强度的过程中发挥部分中介作用。经过替换变量、改变样本区间、滞后一期以及Bootstrap抽样检验后,上述结论仍然成立。进一步研究发现,国有企业、两职分离企业以及高融资约束企业的ESG表现对降低企业碳排放强度的效果更好。基于上述研究结果,本文为政府、媒体、企业等利益相关者提出了可行的政策建议。In the context of achieving carbon peak and carbon neutrality goals,the Environmental,Social,and Governance(ESG)framework has garnered significant attention.Investigating the role of corporate ESG performance in advancing these dual carbon objectives is a critical area of research.This article uses data from A-share listed manufacturing companies between 2009 and 2021,employing a fixed-effects model to assess the impact of ESG performance on corporate carbon emission intensity,with a focus on the mediating influence of media attention.The findings reveal that ESG performance significantly reduces carbon emission intensity,with media attention serving as a partial mediator in this relationship.These results remain robust across various tests,including variable substitution,sample adjustments,one-period lag,and Bootstrap sampling.Further analysis shows that the reduction in carbon emission intensity driven by ESG performance is more pronounced in state-owned enterprises,firms with separated leadership roles,and companies facing high financing constraints.Based on these insights,this paper offers practical policy recommendations for governments,media,and businesses.

关 键 词：碳中和 企业ESG表现 企业碳排放强度 媒体关注 中介效应 

分 类 号：F275[经济管理—企业管理] X22[经济管理—国民经济]