Research on the Impact of Regional Green Finance Development on ESG Performance Capability of Enterprises
Green finance has become a powerful booster for high-quality economic development,and is gradually influencing the environmental,social,and corporate governance performance behavior of enterprises(hereinafter referred to as ESG).Using data from manufacturing companies listed on A-shares of the Shanghai and Shenzhen Stock Exchanges from 2010 to 2020,a three-way fixed effects model is used to explore the impact of regional green finance development level on ESG per-formance of enterprises,with a focus on examining the moderating effect of digital transformation on this impact.The research results indicate that if a company is committed to improving its level of green finance development,its ESG perform-ance will also be significantly improved.Digital transformation plays an important positive role in this process,providing beneficial positive regulation for the ESG performance of enterprises.Digital transformation enables enterprises to more ef-fectively monitor,evaluate,and manage their environmental impacts,while impro-ving social responsibility and governance mechanisms,thereby enhancing overall ESG performance.Based on the heterogeneity analysis of property rights and geo-graphical location,it is found that the promotion effect of green finance develop-ment level on ESG performance ability of enterprises is more pronounced in state-owned enterprises and central regions.This article provides important references for enterprises and government departments to formulate more effective green finance policies and digital transformation strategies,and promote the achievement of sus-tainable development goals.
万方数据
维普
