From the perspective of enterprise ESG performance,this paper uses a multi-time point difference-in-difference fixed effects model to explore the impact and mechanism of smart city pilot policies on enterprise ESG performance through data research on A-share listed companies from 2010 to 2021.At the same time,a series of methods such as parallel trend test,placebo test,and PSM-DID test are used to consolidate the conclusions.The study found that smart city pilot policies have significantly promoted enterprise ESG performance;smart city pilot policies enhance enterprise ESG performance through two paths:improving enterprise green technology innovation and easing enterprise financing constraints;under the background of smart city pilot policies,in the samples of introduction period,mature period,non-state-owned enterprises and non-heavy polluting enterprises,the improvement of enterprise ESG performance is more significant.The research conclusion takes the promotion of smart cities as an opportunity to help enterprises integrate ESG concepts into their corporate strategies,promote better understanding of ESG by market investors,and accelerate the pace of government improvement of the ESG system.
关键词
环境社会治理(ESG)表现/智慧城市试点政策/多期双重差分/绿色技术创新/融资约束
Key words
ESG performance/smart city pilot policy/multi-period difference in difference/green technology innovation/financing constraints
维普
万方数据