Environmental Responsibility Fulfilment and Corporate Performance under the"Double-carbon"Target:Impact Effect and Mechanism
Environmental responsibility fulfilment is the due priority for enterprises to assume social responsibility,but can envi-ronmental responsibility fulfilment improve corporate performance and enhance its competitiveness?The paper selects the manufacturing enterprises in Shanghai and Shenzhen A-shares from 2014 to 2022 to explore the impact of corporate environmental responsibility fulfill-ment on corporate performance,the intermediary effect of technological innovation investment on the relationship between the two,and whether the policy support can adjust the intermediary effect.It is found that environmental responsibility fulfilment can significantly im-prove corporate performance,and technological innovation investment plays a partial intermediary role between environmental responsi-bility fulfilment and corporate performance,and policy support can positively adjust the intermediary effect between technological inno-vation investment and corporate performance.After a series of robustness tests,the above conclusions still hold true.Further analysis shows that there are differences in the nature of industry,institutional environment and resource endowment in the positive impact of en-vironmental responsibility fulfilment on corporate performance.Among them,enterprises in heavy pollution industries,enterprises in strong institutional environment and resource-based cities have more significant positive correlation between environmental responsibility fulfilment on corporate performance.The inspection of the economic consequences found that environmental responsibility fulfilment en-hanced the competitiveness of enterprises by improving their performance.The research conclusion can provide corresponding guidance for listed enterprises,and make them clear that to achieve the"double-carbon"target in the future,so as to further enhance the com-petitiveness of enterprises.
NETL
NSTL
万方数据
