政府采购能提升企业ESG吗?

Does Government Procurement Improve Enterprise ESG?

政府采购作为财政制度的重要组成部分,是助力实现双碳目标的坚实保障。政府采购如何发挥其环境、社会与治理效应,激励企业提升ESG,是一个值得深入探讨的话题。本文以上市公司为样本,探讨了政府采购对企业ESG的影响。实证检验表明,政府采购对企业ESG有一定的激励作用;安慰剂检验与其他一系列稳健性检验均支持上述结论。进一步分析发现,受制度环境、政府依赖和儒家文化异质性的影响,政府采购对企业ESG的影响有显著差异。对于制度环境好、政府依赖高和儒家文化影响强地区的企业,政府采购对企业ESG的效应更为显著。机制检验发现,政府采购对企业ESG的影响机制在于政府采购增加了媒体报道、提高了环境专业知识水平、提升了外部融资水平。进一步分析发现,政府采购对企业ESG的影响具有显著的同行效应,竞争渠道是同行效应发挥作用的重要机制。经济后果检验表明,企业ESG在政府采购与企业创新之间有正向调节作用。本文研究丰富了政府采购的经济后果的文献,对于当前深化财税体制改革、大力推进企业ESG具有一定借鉴意义。

As an important part of the financial system,government procurement is a solid guarantee for helping to achieve the dual carbon goal.How government procurement can exert its environmental,social and governance effects and encourage enterprises to improve ESG is a topic worthy of in-depth discussion.Taking listed companies as samples,this paper explores the impact of government procurement on enterprise ESG.Empirical tests show that government procurement has a certain incentive effect on enterprise ESG;both the placebo test and a series of other robustness tests support the above conclusion.Further analysis found that,influenced by the institutional environment,government dependence and Confucian cultural heterogeneity,the impact of government procurement on enterprise ESG was significantly different.For enterprises in areas with good institutional environment,high government dependence and strong influence of Confucian culture,the effect of government procurement on enterprise ESG is more significant.The mechanism test found that the impact mechanism of government procurement on enterprise ESG is that government procurement increases media coverage,improves environmental expertise,and enhances the level of external financing.Further analysis shows that government procurement has a significant peer effect on enterprise ESG,and the competitive channel is an important mechanism for the peer effect to work.The test of economic consequences shows that enterprise ESG has a positive moderating effect between government procurement and enterprise innovation.This paper studies the literature that enriches the economic consequences of government procurement,and has certain reference significance for deepening the reform of the fiscal and taxation system and vigorously promoting enterprise ESG.