As an important strategy to promote the high-quality development of urban economy,smart cities can help listed companies accelerate sustainable development and improve the quality of their information disclosure.The article considers the quality of enterprise ESG information disclosure and uses a multi period difference-in-differences model with fixed effects to explore the impact of smart city pilot policies on the quality of enterprise ESG information disclosure and the mechanism for that effect using data for A-share listed companies from 2010 to 2021.The results show the following.(1)The pilot policy for smart cities has a significant promotional effect on the quality of enterprise's ESG information disclosure,and the conclusion remains valid through a series of robustness tests.(2)The smart city pilot policy strengthens the quality of enterprise ESG information disclosure through three paths:research and development innovation,media attention,and digital transformation.(3)In samples with low internal control index,low levels of marketization,and high level of fiscal expenditure,the smart city pilot policy has a more significant effect on improving the quality of ESG information disclosure by enterprises.This study provides valuable advice for enterprises,market investors,and governments.
关键词
ESG信息披露质量/智慧城市试点政策/研发创新/媒体关注/数字化转型
Key words
ESG information disclosure quality/pilot policies for smart cities/R&D innovation/media attention/digital transformation
万方数据