ESG Performance and Corporate Innovation Performance——Based on the Moderating Effect of Corporate Digitalization Level
Based on the unbalanced panel data of Shanghai and Shenzhen A-share listed companies from 2009 to 2021,this paper empirically examines the impact of ESG performance on enterprise innovation performance,and explores the moderating effect of enterprise digitalization level on ESG performance and corporate innovation perfor-mance.The study finds that good ESG performance can significantly improve the innova-tion performance of enterprises;enterprise digitalization level can positively regulate the relationship between ESG performance and corporate innovation performance.Further re-search shows that in high-tech and non-heavy polluting enterprises,ESG performance has a more obvious effect on the improvement of corporate innovation performance.Each sub-dimension of E,S and G can promote the innovation performance of enterprises to different degrees,and the environmental dimension has a relatively greater promoting ef-fect.This paper proposes that enterprises should integrate ESG concepts into corporate culture and raise the importance of ESG performance,and high-tech enterprises and non-polluting enterprises should pay more attention to ESG concepts and strengthen ESG practices;at the same time,they should also take the initiative to accelerate the pro-cess of digital transformation and improve the level of digitization;and the government and the regulatory authorities should create a favorable institutional environment to help enterprises improve their ESG performance.
ESG performanceinnovation performancedigitization levelsustain-able development
NETL
NSTL
万方数据
