With the increasing global attention to sustainable development,ESG has gradually attracted attention as an important tool for evaluating corporate sustainability and social responsibility.Especially in the context of China's active promotion of the"carbon peak and carbon neutral"goal,corporate green innovation has become one of the important ways to achieve sustainable development.In this paper,we use ESG data of A-share listed manufacturing companies from 2012 to 2022 to study the impact of ESG rating disclosure on corporate green innovation with the help of double-difference model.The research findings indicate that ESG rating disclosure has a significant promoting effect on corporate green innovation,and after multiple robustness tests,this conclusion remains valid.The primary pathways through which ESG rating disclosure promotes corporate green innovation include increasing government subsidies and alleviating financing constraints,with this promoting effect being more pronounced in regions with higher levels of marketization and among enterprises located in the eastern region.
关键词
ESG评级披露/制造业/绿色创新/多时点双重差分
Key words
ESG Rating Disclosure/Manufacturing Industry/Green Innovation/Multi-time Point DID
万方数据