Environmental,Social and Governance Performance and Labor Productivity Promotion of Private Enterprises
As an important economic activity entity,enterprises need to balance economic efficiency and sustainable development,environmental,social and governance(ESG)performance is increasingly receiving attention from investors,regulatory agencies,and the public.This article uses data from the Chinese Private Enterprise Survey(CPES),to explore the promoting effect of environmental,social and governance(ESG)performance on labor productivity in private enterprises.Research has found that the comprehensive environmental,social and governance(ESG)performance of private enterprises can significantly improve their labor productivity;Mechanism analysis shows that this promotion can be further improved through mechanisms such as enjoying policy subsidies or tax reductions,alleviating financing constraints,and promoting R&D innovation,thereby exerting a partial mediating effect;The heterogeneity analysis results indicate that the G-organizational structure in the environmental,social and governance(ESG)performance of private enterprises is more significant in the group of small businesses,while S-charitable donations are more significant in the capital intensive group;Finally,we use instrumental variables to address potential endogeneity issues,and the results remained robust.The research of this paper will provide new ideas for exploring the improvement mechanism of private enterprises'labor productivity,and provide theoretical and policy support for stimulating the vitality and creativity of private enterprises to promote high-quality economic development and build a Chinese path to modernization economic system.
Sustainable DevelopmentESG Performance of Private EnterprisesLabor Productivity
万方数据
维普
