Green Investment,ESG Performance and New Quality Productivity
The development of new quality productivity is the internal requirement and important focus of promoting high-quality development in the new era and new journey.Green investment,as a new investment model,plays a crucial role in the formation and development of new quality productivity.In the new development stage,how to use green investment to improve new quality productivity is a hot topic at present.Based on this research background,this paper selects the panel data of China's A-share listed companies from 2015 to 2022 as research samples.Starting from the two-factor productivity theory,this paper constructs a comprehensive index to measure the new quality productivity level of enterprises in a relatively comprehensive way,and based on the unique perspective of corporate environmental responsibility fulfillment.The mechanism of green investment on new quality productivity of enterprises is analyzed by empirical model,and the heterogeneity of green investment on new quality productivity of enterprises under different regions,different property rights and different marketization degree is investigated.The results show that green investment can promote the improvement of new quality productivity of enterprises,and this conclusion is still significantly valid after a series of robustness tests.Further research shows that green investment helps enterprises accelerate the formation of new quality productivity by improving the transmission path of ESG performance.Heterogeneity analysis shows that the promotion effect of green investment on new quality productivity of enterprises is more significant in state-owned enterprises,central and western regions and enterprises with low marketization degree.This study provides empirical evidence to fully understand and play the positive role of green investment on new quality productivity of enterprises,and has important implications for mobilizing the enthusia.
万方数据
维普
