数字化转型背景下政府补助对企业ESG绩效影响的实证研究——基于企业创新的中介效应

An Empirical Study on the Impact of Government Subsidies on ESG Performance of Enterprises in the Context of Digital Transformation——Based on Mesomeric Effect of Enterprise Innovation

数字技术推动企业实现数字化转型,数字化转型推动经济高质量发展,经济高质量发展要求企业社会责任感逐步增强。企业创新在提升环境保护、改善内部治理从而提升企业社会责任中发挥重要作用。本文在数字化转型成为企业发展的主流趋势背景下,利用2018—2021年中国上市公司数据,基于企业创新视角,研究政府补助与企业ESG绩效的关系机理。研究发现,政府补助能够提升企业ESG绩效,且企业创新发挥完全中介效应。产权性质与行业属性差异造成了政府补助对企业ESG绩效影响的异质性,非国有企业和制造企业政府补助对企业ESG绩效提升的促进作用更显著。根据结果,在企业实现数字化转型过程中,政府应加大对制造企业和非国有企业的政策支持,以加快企业创新投入,从而改善企业ESG绩效,最终实现经济转型。

Digital technology drives enterprises to achieve digital transformation,digital transformation drives high-quality economic development,high-quality economic development requires the gradual enhancement of corporate’s social responsibility.Corporate innovation plays an important role in improving environmental protection and internal governance,so as to enhance corporate’s social responsibility.In the context of digital transformation,based on the data of Chinese listed companies from 2018 to 2021,this paper studied the relationship mechanism between government subsidies and ESG performance of enterprises from the perspective of enterprise innovation.The study found that government subsidies can improve the ESG performance of enterprises,and enterprise innovation plays an absolute mesomeric effect in this influence mechanism.The difference between the nature of property rights and industry attributes results in the heterogeneity of the impact of government subsidies on ESG performance of enterprises,and the positive effect of government subsidies of non-state-owned enterprises and manufacturing industries on the improvement of ESG performance is more significant.According to the results,in order to speed up the investment in innovation,the government should increase the policy support to manufacturing enterprises and non-state-owned enterprises,so as to improve the ESG performance of enterprises and finally realize economic transformation.