Based on the relevant data of A-share listed companies from 2015 to 2022,this paper proves that the ESG performance of en-terprises has a promoting effect on R&D investment after the robustness test.Moreover,media attention and financing constraints have some intermediary roles and chain intermediary roles.Fiscal subsidies play a positive moderating role in the alleviating effect of ESG per-formance on financing constraints,and a negative moderating effect in the promotion of ESG performance on R&D investment,and are conducive to promoting breakthrough innovation of enterprises,thereby effectively improving their independent innovation capabilities.
维普
万方数据