Does Corporate ESG Performance Improve Government-Enterprise Relations?——Empirical Evidence Based on Private Enterprises
ESG is a highly valued tool for governments to achieve the"dual-carbon"goal and promote high-quality development.Will corporate ESG performance improve the relationship between government and enterprises,so as to obtain government resources and policy support?Based on the resource dependence theory,whether ESG performance affects the government-enterprise relationship is explored with a sample of A-share private listed companies in Shanghai and Shenzhen from 2012 to 2022.The study found that good corporate ESG performance improves government-enter-prise relations,i.e.,the better a company's ESG performance,the more government subsidies and tax incentives it re-ceives;the mechanism test found that corporate ESG performance lays the foundation for interactive cooperation and good relations with the government by improving corporate reputation;the improvement effect of ESG performance on government-enterprise relationship is more significant among enterprises in high-pollution industries as well as enterpris-es in regions with lower levels of economic development.The findings of the study have important implications for the government's use of fiscal and tax policies to promote high-quality development and for enterprises to promote ESG con-struction.
ESG performancegovernment-enterprise relationshipresource dependencefiscal and taxation policy
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