ESG评级分歧与企业绿色创新——来自中国A股上市公司的经验证据
ESG Rating Disagreement and Corporate Green Innovation:Empirical Evidence from China's A-Share Listed Companies
曾宇飞洋 1王一凡 1吴宗法1
作者信息
- 1. 同济大学经济与管理学院,上海 200092
- 折叠
摘要
以2015-2021年中国A股上市公司为样本,基于利益相关者理论、制度理论和资源依赖理论,实证分析ESG评级分歧对企业绿色创新的影响.结果表明:(1)ESG评级分歧显著提升了企业绿色创新水平;(2)影响机制检验表明,ESG评级分歧通过外部压力和内部驱动双重渠道促使企业进行绿色创新;(3)异质性分析显示,对于低融资约束、高内控质量和年长高管团队的企业,ESG评级分歧对企业绿色创新的提升作用更大.
Abstract
Taking China's A-share listed companies from 2015 to 2021 as samples,this paper empirically analyzes the im-pact of ESG rating disagreement on corporate green innovation based on stakeholder theory,institutional theory,and resource dependence theory.The results show that:(1)ESG rating disagreement significantly improves corporate green innovation.(2)Mechanism tests indicate that external pressure and internal drive serve as channels for that positive influence.(3)Heterogeneity analysis demonstrates that the role of ESG rating disagreement in promoting corporate green innovation is more obvious in enterprises with low financial constraints,high quality of internal control,and old executive teams.
关键词
ESG评级分歧/企业绿色创新/战略调整Key words
ESG rating disagreement/corporate green innovation/strategic adjustment引用本文复制引用
出版年
2024
NETL
NSTL
万方数据