ESG performance empowers total factor productivity of fishery enterprises:micro evidence from listed companies in China
Improving total factor productivity is the power source for the economy to shift from high-speed growth to high-efficiency growth,and it is an important task in the stage of high-quality development.Based on the annual data of Chinese listed fishery firms from 2009 to 2021,this paper empirically analyzes the impact of ESG performance on total factor productivity of Chinese fishery firms using the fixed effect model and the mediation effect model.The study finds that:(1)ESG performance can significantly increase the total factor productivity of Chinese fishery firms,and this conclusion still holds after the robustness test.(2)ESG performance can increase the total factor productivity of fishery firms by influencing the level of technological innovation of fishery firms.Based on above,Chinese fishery enterprises should uphold the ESG concept,improve the level of technological innovation,effectively promote the improvement of total factor productivity of fishery enterprises,and realize the high-quality development of fishery industry.
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