借“智”强“制”:工业智能化能否提升企业ESG表现?  

Using“Intelligence”to Enhance“Manufacturing”:Can Industrial Intelligence Improve Corporate ESG Performance?

作　　者：杨晓锋 刘祥[2,3] 李丫丫[4] YANG Xiaofeng;LIU Xiang;LI Yaya(School of Manegement,Wuhan Textile University,Wuhan 430200,China;China Development Institute,Shenzhen 518029,China;School of Economics,Wuhan University of Technology,Wuhan 430070,China;School of Finance and Economics,Jiangsu University,Zhenjiang 212000,China)

机构地区：[1]武汉纺织大学管理学院,武汉430000 [2]综合开发研究院(中国·深圳)区域发展规划研究所,广东深圳518029 [3]武汉理工大学经济学院,武汉430070 [4]江苏大学财经学院,江苏镇江212000

出　　处：《商业研究》2025年第2期129-140,共12页Commercial Research

基　　金：国家社会科学基金重大项目“构建人类命运共同体进程中国际经济规则重建的理论逻辑及中国的战略选择”,项目编号:19ZDA054;国家社会科学基金后期资助项目“绿色技术跨国合作创新网络的动态演化、驱动机制及引导策略研究”,项目编号:23FGLB024。

摘　　要：本文基于2012—2023年中国制造业机器人数据匹配A股上市公司数据,考察工业智能化对企业ESG表现的影响机制,并探讨工业智能化推广应用的异质性影响、价值链升级效应及经济后果。研究发现:工业智能化推广应用显著改善了企业ESG及分项表现,在解决内生性、采用多种稳健性及排他性检验后该结论依然成立;工业智能化通过提升企业资源配置效率、增强企业信息化能力、优化人力资本结构和降低融资约束压力四个渠道改善了企业ESG表现,人力资本扩张强化了工业智能化对企业ESG表现的改善作用;企业属性和资本市场关注异质性是工业智能化影响企业ESG表现差异的重要来源;工业智能化显著促进了制造企业价值链升级,推动了制造企业服务化,并且切实提升了企业价值。The article uses data from China’s manufacturing robot industry from 2012 to 2023 to match data from A-share listed companies,examines the impact mechanism of industrial intelligence on corporate ESG performance,and explores the heterogeneous effects of industrial intelligence promotion and application,value chain upgrading effects,and economic consequences.The study found that the promotion and application of industrial intelligence significantly improved the ESG performance of enterprises,and this conclusion still holds true after addressing endogeneity and adopting various robustness and exclusivity tests;Industrial intelligence improves corporate ESG performance through four channels:improving resource allocation efficiency,enhancing enterprise informatization capabilities,optimizing human capital structure,and reducing financing constraints.The expansion of human capital strengthens the role of industrial intelligence in improving corporate ESG performance;The heterogeneity of enterprise attributes and capital market attention is an important source of the impact of industrial intelligence on the differences in ESG performance of enterprises;Industrial intelligence has significantly promoted the upgrading of the value chain of manufacturing enterprises,promoted the servitization of manufacturing enterprises,and effectively enhanced the value of enterprises.

关 键 词：工业智能化 企业ESG表现 制造业 人力资本 价值链 

分 类 号：F275[经济管理—企业管理] F832[经济管理—国民经济]