摘要
依据2009—2022年A股上市公司数据,构建多元线性回归模型,考量企业ESG表现对企业韧性的影响。结果显示:企业ESG表现对企业韧性正向影响显著,企业ESG表现越好,企业韧性越强,且在重污染行业和东部地区企业中更为显著;良好的企业ESG表现主要通过缓解企业融资约束和提高企业创新效率两个渠道增强企业韧性。鉴于此,企业应努力提升自身ESG表现,政府主管部门要引导并鼓励企业加强ESG建设,各利益相关方发挥监督作用,强化企业韧性,助力企业高质量发展。
Based on the data of A-share listed companies from 2009 to 2022,A multiple linear regression model is constructed to empirically test the impact of ESG performance on enterprise resilience and its mechanism.The results indicate that the enterprise’s ESG performance has a significant positive impact on enterprise resilience.The better the ESG performance is,the stronger the enterprise resilience is,and this positive effect is more significant in the main polluted industry trades and enterprises located in the eastern regions;Good ESG performance primarily enhances enterprise resilience through two channels:alleviating financial constraints and improving innovation efficiency.Therefore,enterprises should strive to enhance their ESG performance,while government departments and regulators should guide and encourage enterprises to strengthen their ESG construction.Stakeholders should play a supervisory role to strengthen enterprise resilience and contribute to the high-quality development of the enterprise.
作者
陈银娥
李春燕
谭欢
汪亚楠
CHEN Yin’e;LI Chunyan;TAN Huan;WANG Yanan(School of Economics and Management,Changsha University of Science and Technology,Changsha,Hunan410014,China;School of Economics and Management,Wuhan University,Wuhan,Hubei430072,China;School of Economics and Finance,South China University of Technology,Guangzhou,Guangdong510006,China)
出处
《财经理论与实践》
北大核心
2024年第2期128-135,共8页
The Theory and Practice of Finance and Economics
基金
国家社会科学基金重点项目(21AJL007)
国家资助博士后研究人员计划(GZC20231969)。
关键词
ESG表现
企业韧性
融资约束
创新效率
ESG performance
enterprise resilience
financial constraints
innovation efficiency
