Corporate ESG Performance and Green Innovation Development
The green innovation development of micro enterprises is the green background of China's high-quality economic devel-opment.This study empirically examines the impact and mechanism of ESG performance on green technology innovation in non-financial A-share listed companies from 2010 to 2021.The results show that corporate ESG performance can improve green technology innovation,and this result still holds true after a series of endogeneity treatments and robustness tests.Mechanism testing found that the ESG performance of enterprises mainly improved their green technology innovation through intermediate channels such as reducing debt financing costs,alleviating information asymmetry,and improving the quality of information disclosure.Heterogeneity analysis shows that the ESG performance of state-owned enterprises and high-tech enterprises has a significant positive promoting effect on green technology innovation.The research conclusion of this article provides a theoretical basis and empirical support for enterprises to practice and establish ESG concepts,promote green innovation,and achieve sustainable development.
Environmental,social and governance(ESG)Green innovation performanceFinancing costsInformation asymmetryQuality of information disclosure
NETL
NSTL
万方数据
