摘要
本文采用我国2011~2020年非金融类A股上市公司数据,考察了产业政策实施对企业ESG表现的影响。研究发现,产业政策实施能够提高企业ESG表现,本文研究结论在一系列稳健性检验后依旧成立。机制检验表明,产业政策通过约束效应和支持效应两个路径促进企业ESG表现。异质性分析发现,在地方配套政策协同发挥作用的地区和高污染企业中,产业政策对企业ESG表现的促进作用更强。本文研究丰富了企业ESG表现驱动因素的研究,为进一步发挥产业政策引导作用、促进企业积极践行ESG理念、助力经济高质量发展提供理论支撑与经验启示。
Corporate ESG helps promote high-quality economic development.Using data from non-financial A-share listed companies in China from 2011 to 2020,we examine the impact of national industrial policy on corporate ESG performance.It is found that national industrial policy can improve corporate ESG performance,and the findings still hold after a series of robustness tests.Mechanistic tests indicate that national industrial policy promotes corporate ESG performance through regulatory and supportive effects.Heterogeneity analysis shows that industrial policy has a more substantial promoting effect on firm ESG performance among central and local industrial policy synergies and heavy-pollution firms.This paper enriches the research on the drivers of corporate ESG performance.In addition,we provide theoretical support and empirical insights to play the guiding role of industrial policy,promote listed companies to practice ESG concepts actively,and contribute to high-quality development.
作者
郑梦泽
ZHENG Mengze(Scientific Research Department of Ningbo University of Finance&Economics,Ningbo 315175,China)
出处
《产业组织评论》
2023年第3期29-66,共38页
Industrial Organization Review
基金
宁波市哲学社会科学规划课题“企业数字化赋能浙江经济高质量发展的效应评价、作用机制与对策研究”(G2023-02-60)
浙江省教育厅高校国内访问学者教师专业发展项目“经济高质量发展背景下政府治理对企业全要素生产率的影响研究”(FX2021094)
关键词
产业政策
企业ESG表现
经济高质量发展
industrial policy
corporate ESG performance
high-quality economic development
