摘要
在推动经济高质量发展背景下,企业ESG表现备受关注。基于中国A股上市公司样本,系统分析董事会非正式层级对企业ESG表现的影响效应、情境特征、传导机制和经济后果。研究发现,董事会非正式层级清晰度越高,企业ESG表现越好。调节效应检验发现,随着董事会互动程度的提高以及环境不确定性的降低,非正式层级对企业ESG表现的促进效应更为明显。机制检验表明,内部控制、创新效率是董事会非正式层级影响企业ESG表现的重要机制。经济后果检验发现,董事会非正式层级能够通过改善企业ESG表现进而显著提高企业价值。
Against the backdrop of promoting high-quality economic development,corporate ESG performance has become a topic of considerable interest.This study systematically analyzes the impact,situational characteristics,transmission mechanisms,and economic consequences of board informal hierarchy on corporate ESG performance using a sample of Chinese A-share listed companies.The findings indicate that a clearer board informal hierarchy correlates with better corporate ESG performance,a conclusion validated through robustness tests.Moderation effect tests reveal that increased board interaction and decreased environmental uncertainty amplify the promotion effect of the informal hierarchy on corporate ESG performance.Mechanism tests highlight internal control and innovation efficiency as pivotal mechanisms through which the board informal hierarchy influences corporate ESG performance.Economic consequence tests further underscore that the board informal hierarchy significantly enhances corporate performance and value by bolstering corporate ESG performance.
作者
彭程
陈元胜
PENG Cheng;CHEN Yuansheng(Sichuan International Studies University,School of International Finance and Trade,Chongqing 400031,China;Sichuan International Studies University,International Business and Economy,Chongqing 400031,China)
出处
《哈尔滨商业大学学报（社会科学版）》
CSSCI
2024年第4期31-44,共14页
Journal of Harbin University of Commerce:Social Science Edition
基金
重庆市社会科学规划项目“会计准则差异对重庆市与‘一带一路’国家双向互动投资的影响研究”(2018YBJJ032)
四川外国语大学研究生科研创新项目“董事会非正式层级对企业国际化战略的影响研究”(SISU2023XK066)。
