ESG(environmental,social and governance)Evaluation,Enterprise Heterogeneity and Green Innovation:Empirical Evidence from A-Share Listed Companies
In order to deeply explore the impact of ESG evaluation on green innovation,this study empirically analyzes the relationship between ESG evaluation and green innovation output of heterogeneous enterprises based on panel data of A-share listed companies.The results show that ESG evaluation significantly promotes green innovation of enterprises by guiding them to increase investment in green innovation.Heterogeneity analysis shows that the green innovation effect of ESG evaluation is more obvious in small and medium-sized enterprises,non-state-owned enterprises and enterprises in the growth stage.Further research shows that ESG evaluation not only affects the strategic innovation of enterprises,but also significantly improves the quality of green innovation.Heavy polluting industries and innovation ecological environment have no obvious influence on ESG evaluation of green innovation effect.The research results have certain reference significance for exploring the green innovation effect of ESG evaluation,and can provide theoretical support for the government to further improve relevant policies to promote green innovation of enterprises.
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