儒家文化与重污染企业绿色并购

Confucianism and Green M&As in Heavy Polluters

绿色并购是重污染企业响应国家生态文明战略、实施绿色转型的重要方式。本文基于2010—2018年重污染企业的并购数据研究儒家文化对重污染企业绿色并购行为的影响,并考察其作用机理。研究发现,重污染企业受到儒家"天人合一""义利观"和"慎独内省"思想的影响越深,越倾向于进行绿色并购。机理检验发现,儒家文化潜移默化提高了重污染企业管理者的绿色发展意识、社会责任意识以及环境自律意识,从而推动了重污染企业的绿色并购和转型发展。进一步检验表明,儒家文化驱动下的绿色并购兼具环保效益和经济效益。本文从传统文化的视角丰富了绿色并购驱动因素的相关研究,也为政府部门采取相应措施推进重污染企业绿色转型提供了决策参考。

Green M&A is an important way for heavy polluters to respond to national ecological civilization strategy and implement green transformation.This paper uses the heavy polluters’M&A data in 2010—2018 to study the influence of Confucianism on heavy polluters’green M&A.The results show that the deeper heavy polluters are influenced by the Confucianism the more they tend to engage in green M&A.The mechanism tests confirm that Confucianism mainly promotes heavy polluters’green M&A by raising the awareness of green development,enhancing their social responsibility and strengthening the environmental self-discipline consciousness.Further examinations show that green M&A driven by Confucianism have both environmental and economic benefits.This article enriches the research on heavy polluters’green M&A from the perspective of traditional culture,and provides decision-making references for government to take corresponding measures to promote green development.