企业ESG责任履行提升了供应链效率吗?——来自上市公司的经验证据  

Does ESGResponsibility Fulfillment Improve Supply Chain Efficiency?——Empirical Evidence from Listed Companies

作　　者：王玉燕[1] 荣煜 WANG Yuyan;RONG Yu(Anhui University,School of Economics,Anhui 230039,China)

机构地区：[1]安徽大学经济学院,合肥230039

出　　处：《哈尔滨商业大学学报(社会科学版)》2025年第2期96-113,共18页Journal of Harbin University of Commerce:Social Science Edition

基　　金：国家社会科学基金项目“‘双循环’新格局下制造业高质量发展的驱动机制、效果测度及提升策略研究”(21CJY050)。

摘　　要：供应链安全稳定是关乎我国经济发展的核心议题,日益受到党和国家的高度重视。提升供应链效率作为保障供应链韧性和安全稳定的关键举措,其影响因素及作用机制亟待深入研究。本研究基于2009—2021年中国A股上市企业的ESG表现与供应链效率数据,系统考察企业ESG对供应链效率的影响及其作用机制。实证研究发现:企业ESG表现对供应链效率的提升效应在国有企业、大规模企业、管理层决策视角长和资本密集型企业中更为显著;同时,这种促进作用在制造业和竞争度较强的行业中表现尤为突出。机制分析表明,企业ESG表现通过缓解融资约束、降低交易成本、促进技术创新以及供应链关系稳定度等机制,不仅显著提升了供应链效率,还对企业自身价值产生积极的促进作用。The safety and stability of supply chains are closely related to China s economic development and have increasingly become an important issue of high concern to the Party and the government.Improving supply chain efficiency is a crucial measure to ensure supply chain resilience,safety,and stability.This paper uses data from 2009—2021 on ESG and supply chain efficiency of listed A-share companies in China as a sample to empirically analyze the impact and mechanism of corporate ESG on supply chain efficiency.The study finds that corporate ESG has a more significant effect on improving supply chain efficiency in state-owned enterprises,large-scale enterprises,enterprises with longer management decision-making horizons,and capital-intensive enterprises,and has a more significant promotion effect in the manufacturing industry and industries with higher competitiveness.The mitigation of financing constraints,reduction of transaction costs,technological innovation,and stabilization of supply chain relationships brought about by corporate ESG performance are not only important mechanisms for improving supply chain efficiency but also further enhance the company s own value.This paper reveals the positive role of corporate ESG in supply chain efficiency and provides theoretical references and empirical insights for further promoting the resilience and security of industrial and supply chains.

关 键 词：企业ESG 供应链效率 融资约束 供应链关系 

分 类 号：F832.51[经济管理—金融学] F274