The Impact of ESG Responsibility Performance on Enterprise R&D Investment:From the Perspective of Resource Acquisition and Resource Allocation
Taking the A-share listed companies from 2015 to 2020 as the research samples,based on the perspective of re-source acquisition and resource allocation,this paper analyzes the impact of ESG responsibility performance on enterprise R&D investment and tests the regulatory moderating effect of digital transformation on the relationship between the two.The research results show that ESG responsibility performance can promote enterprises to increase R&D investment,and digital transformation will strengthen this promotion role.Further impact mechanism tests show that ESG responsibility performance mainly promotes enterprises to increase R&D investment by alleviating financing constraints in the channel of resource acqui-sition and by inhibiting resource mismatch in the channel of resource allocation.
ESG responsibility performanceR&D investmentdigital transformationenterprise innovationsustainable development
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