强制社会责任披露能否驱动企业绿色转型?——基于我国上市公司绿色专利数据的证据

Can Mandatory Social Responsibility Disclosure Drive Corporate Green Transformation?Evidence Based on Green Patent Data of Listed Companies in China

基于2008年企业社会责任(CSR)强制披露政策出台这一外生冲击事件构造准自然实验,利用手工搜集的绿色专利数据,通过PSM-DID的方法,从绿色创新的角度考察强制CSR披露对企业绿色转型的影响。研究表明,强制CSR披露通过加强企业规制合法性和规范合法性动机,驱动企业绿色转型;这种驱动作用在非国有企业、信息环境较好的企业和低集中度市场中更为明显。进一步研究发现,强制CSR披露能够通过驱动企业绿色转型来提高企业绩效。研究结论验证了强制CSR披露在驱动企业绿色转型方面的有效性,深化和丰富了强制CSR披露相关理论,对优化企业环境治理决策与驱动经济绿色发展具有重要指导意义。

Based on the exogenous shock of the 2008 Corporate Social Responsibility(CSR)Mandatory Disclosure Policy,this article uses the hand-collected data of corporate green patent and the PSM-DID method to examine the impact of mandatory CSR disclosure on corporate green transformation from the perspective of green innovation.The study shows that mandatory CSR disclosure drives corporate green transformation by strengthening the regulatory legitimacy and normative legitimacy of companies,and this driving effect is more obvious in non-state-owned enterprises,companies with better information environments,and low concentration markets.Further research shows that mandatory CSR disclosure could improve corporate performance through green transformation.This conclusion validates the effectiveness of mandatory CSR disclosure in driving green transformation,deepens and enriches relevant theories of mandatory CSR disclosure,and has a guiding significance for optimizing corporate environmental governance decisions and driving national green economic development.