Innovation-driven: ESG Empowering Enterprises for High Quality Development of New Quality Productive Forces
摘要: 习近平总书记所提出的新质生产力概念对中国经济的高质量发展和中国式现代化具有深远的战略意义,“双碳”目标下,创新是企业高质量发展的重要驱动力。本文选用2012—2022年中国A股上市公司的数据,研究了企业ESG水平对新质生产力的影响。结果表明,ESG水平显著促进了企业新质生产力的提升;进一步的机制分析揭示了ESG水平通过激励企业双元创新发展,从而促进新质生产力的提升,特别是在环境不确定性较高的市场条件下,企业更偏好探索式创新;异质性分析表明,在国有企业、大规模企业及漂绿程度较低的企业中,ESG表现对新质生产力的促进作用更为显著。本研究不仅丰富了企业ESG相关的学术研究,还为企业创新实践和可持续发展提供了重要的参考和借鉴。
Abstract: General Secretary Xi Jinping's concept of the new quality productive forces holds profound strategic importance for China's economic development and Chinese modernization. In the context of carbon peaking and carbon neutrality objectives, innovation emerges as a critical driver for enterprises to achieve high-quality development. Drawing from data from Chinese A-share listed companies from 2012 to 2022, this study explores how the ESG performance of enterprises infl uences the new quality productive forces. The fi ndings suggest that ESG performance notably bolsters the advancement of enterprises' new quality productive forces. Detailed mechanism analysis indicates that ESG performance fosters this progress by encouraging dual innovation within enterprises, particularly in market environments marked by elevated environmental uncertainty where exploratory innovation is preferred. Heterogeneity analysis reveals that ESG performance plays a substantial role in enhancing new quality productive forces, notably among state-owned enterprises, large-scale entities, and those with minimal instances of greenwashing. This study not only enriches the academic research on enterprises' ESG, but also provides important references and lessons for enterprises' innovation practices and sustainable development.
[V1] | 2024-09-13 09:49:24 | PSSXiv:202409.01184V1 | 下载全文 |
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