企业集团对节能减排的影响研究——来自中国上市公司的经验证据

Research on the Impact of Enterprise Groups on Energy Conservation and Emission Reduction:Empirical Evidence from Listed Companies in China

从企业集团这一组织视角,关注如何推进企业节能减排,对于中国企业绿色转型、国家“双碳”目标的实现有着十分重要的现实意义。基于“结构决定战略”的理论视角和资源基础理论,以2003—2020年中国A股上市公司为研究样本进行实证分析,结果表明:企业集团可以有效促进企业节能减排。进一步研究发现,企业集团通过提升绿色创新水平和改变成本结构促进企业的节能减排。分产权性质和地理位置进行异质性讨论,发现企业集团促进企业节能减排的作用对国有企业显著,中部地区大于西部地区,东部地区效果最弱。

From the perspective of enterprise groups,it is of great practical significance for the green transformation of Chinese enterprises and the achievement of carbon peaking and carbon neutrality goals to focus on how to promote energy conservation and emission reduction of enterprises.Based on the“structure determines strategy”theory and resource-based theory,an empirical analysis is conducted with A-share listed companies from 2003 to 2020 in China as our research samples.The results show that enterprise groups can effectively promote energy conservation and emission reduction of enterprises.Further research finds that enterprise groups promote energy conservation and emission reduction by improving the level of green innovation and changing the cost structure.After the discussion on the heterogeneity of property rights and geographical location,it is found that the role of enterprise groups in promoting energy conservation and emission reduction is particularly significant for state-owned enterprises.Furthermore,the effect is stronger in the central region than that in the western region,while the weakest impact is observed in the eastern region.