ESG评价、企业异质性与绿色创新

ESG Evaluation, Enterprise Heterogeneity and Green Innovation

摘要:

绿色创新是企业提升环境与经济绩效的重要路径,ESG评价是推动企业转型发展和实现长期价值的市场化治理机制,二者具有内在逻辑的一致性。在此背景下,基于A股上市企业面板数据,考察了ESG评价对异质性企业绿色创新的微观效应。研究表明:ESG评价通过引导企业加大创新投入进而在整体上显著促进了绿色创新；异质性分析发现,ESG评价的绿色创新效应在中小企业、非国有企业和处于成长期企业中更为明显。进一步研究发现,ESG评价不仅影响了企业的策略性创新,还显著提升了企业绿色创新质量；重污染行业和创新生态环境对ESG评价的绿色创新效应的影响不明显。研究结果对探索ESG评价的绿色创新效应具有一定借鉴意义,可为政府进一步完善相关政策,更好地推动企业绿色创新提供理论支持。

Abstract:

Green innovation is an important way for enterprises to improve environmental and economic performance, and ESG evaluation is a market-oriented governance mechanism that promotes the development and long-term value of enterprises. The two have inherent logical consistency. In this context, the impact of ESG evaluation on enterprises" green innovation deserves further study based on the panel data of A-share listed enterprises. The results show that ESG evaluation significantly promotes green innovation of enterprises by guiding them to increase investment in green innovation. Heterogeneity analysis shows that the green innovation effect of ESG evaluation is more obvious in small and medium-sized enterprises, non-state-owned enterprises and enterprises in the growth stage. Further research shows that ESG evaluation not only affects the strategic innovation of enterprises, but also significantly improves the quality of green innovation. Heavy polluting industries and innovation ecological environment have no obvious influence on ESG evaluation of green innovation effect. The research results have certain reference significance for exploring the green innovation effect of ESG evaluation, and can provide theoretical support for the government to further improve relevant policies to promote green innovation of enterprises.