企业ESG表现对财务风险的影响——基于数字化转型的调节效应
The impact of corporate ESG performance on financial risks——the moderating effect based on digital transformation
余国梦 1宋利1
作者信息
- 1. 安徽理工大学 经济与管理学院, 安徽 淮南 232001
- 折叠
摘要
随着"双碳"目标的提出,环境、社会责任、公司治理(ESG)受到各方的关注,企业是否可以通过改善ESG表现降低财务风险成为值得研究的问题.为考察ESG表现对财务风险的影响以及数字化转型在其中的调节效应,基于2015-2021年A股上市公司的面板数据,并采用计量经济方法进行实证研究.结果表明:良好的ESG表现可以显著降低企业财务风险,上市公司数字化转型可正向调节ESG表现与企业财务风险之间的关系.进一步研究发现,相比国有企业,非国有企业ESG对降低财务风险的效应更大.基于此,企业应促进ESG和数字化协同发展以更好降低财务风险.
Abstract
With the proposal of the"double carbon"goal,environmental,social responsibility,and corporate governance(ESG)performance have attracted attention from all parties.Whether companies can reduce financial risks by improving ESG performance has become a question worth studying.In order to examine the impact of ESG performance on financial risks and the moderating effect of digital transformation,an empirical study is conducted based on panel data of A-share listed companies from 2015 to 2021,and econometric methods are used to conduct empirical research.The results show that good ESG performance can significantly reduce corporate financial risks,and the digital transformation of listed companies can positively regulate the relationship between ESG performance and corporate financial risks.Further research finds that compared to state-owned enterprises,ESG in non-state-owned enterprises has a greater effect on reducing financial risks.Based on this,companies should promote the coordinated development of ESG and digitalization to better reduce financial risks.
关键词
环境、社会责任、公司治理表现/财务风险/数字化转型/调节效应Key words
environmental,social and governance(ESG)performance/financial risk/digital transformation/regulatory effect引用本文复制引用
出版年
2024
NETL
NSTL
万方数据