地方政府环境注意力与企业ESG表现  

Government Environmental Attention and Corporate ESG Performance

作　　者：陈晓珊 陈思敏 CHEN Xiaoshan;CHEN Simin(Guangdong University of Finance and Economics,Guangzhou 510320,China)

机构地区：[1]广东财经大学会计学院,广东广州510320

出　　处：《广东财经大学学报》2025年第1期77-92,共16页Journal of Guangdong University of Finance & Economics

基　　金：广东省哲学社会科学规划一般项目(GD24CYJ08);广东省自然科学基金面上项目(2023A1515011823)。

摘　　要：地方政府承担着推动生态环境保护和经济高质量发展“和谐共生”的重要责任,其环境注意力对其所辖地企业的ESG决策偏好有着重要影响。本研究基于组织注意力理论,并结合2010—2022年中国省级《政府工作报告》和沪深A股上市公司的匹配数据,实证研究发现地方政府环境注意力有助于提升企业ESG表现,并且政府环境注意力每增加一个标准差,企业ESG表现平均提升了0.512%。此影响主要通过增加地区环境污染治理投资和提升企业高管绿色认知等渠道发挥作用。进一步分析表明该影响效应在非国有、非重污染和成熟期等类型的企业中更明显。经济后果分析表明,地方政府环境注意力通过提升企业ESG表现,进而有助于提高企业信息披露质量、缓解融资约束和推动高质量发展。研究结论为地方政府提高环境注意力配置效率,引导企业积极开展ESG体系建设以及贯彻落实“双碳”目标提供了理论依据与决策参考。Local governments play a pivotal role in fostering a harmonious coexistence between ecological conservation and high-quality economic growth.Their focus on the environment profoundly influences the ESG strategic choices of businesses within their jurisdiction.Based on the organizational attention theory and the matching data of Chinese provincial Government Work Reports from 2010 to 2022,and Shanghai and Shenzhen A-share listed companies,this paper empirically examines the impact of local government environmental attention on corporate ESG performance and its mechanism.The results show that the environmental attention of local governments contributes to the improvement of corporate ESG performance,with an average increase of 0.512%for every one standard deviation increase in government environmental attention.And it mainly plays a role through channels such as increasing investment in regional environmental pollution control and enhancing the green awareness of corporate executives.Further analysis shows that this positive effect is more significant in non-state-owned enterprises,non-heavy pollution enterprises,and mature enterprises.Economic consequence analysis shows that the local government environmental attention can improve the quality of corporate information disclosure,alleviating financing constraints and promoting the high-quality development of enterprises by improving corporate ESG performance.The research conclusion offers a theoretical foundation and strategic guidance for local governments to enhance the efficiency of environmental attention allocation,steer enterprises towards robust ESG system development,and ensure the realization of“dual carbon”goals.

关 键 词：地方政府 环境注意力 企业ESG表现 高质量发展 

分 类 号：F275[经济管理—企业管理]