绿色创新、环境信息披露与企业绩效

Green Innovation,Disclosure of Environmental Information and Corporate Performance

随着我国经济进入高质量发展阶段,绿色发展已经成为学者高度关注的问题。文章基于上市公司2010—2020的数据,探究绿色创新对企业绩效的影响及其作用机制,并研究了环境信息披露对二者关系的调节作用。研究发现:绿色创新会促进企业绩效的提升;环境信息披露正向调节绿色创新对企业绩效的影响;绿色创新通过提高企业全要素生产率和税收优惠水平来提高企业绩效;规模较大的企业和东部地区的企业绿色创新对企业绩效的促进作用更加明显。并且通过一系列的稳健性检验发现上述发现依旧成立,最后根据实证结果提出了相应的建议。文章为绿色创新与企业绩效关系的研究提供了新视角,也为企业绿色创新实践提供了理论指导和借鉴。

As China’s economy enters a stage of high-quality development,green development has become an issue receiving considerable amount of scholarly attention.This paper,based on data from listed companies between 2010 and 2020,explores the impact of green innovation on corporate performance and its underlying mechanisms.It also investigates the moderating effect of disclosing environmental information on the relationship between green innovation and corporate performance.The research reveals that green innovation promotes the improvements of corporate performance.Disclosure of environmental information positively moderates the impact of green innovation on corporate performance.Green innovation improves corporate performance by increasing total factor productivity and levels of tax incentives.The promoting effect of green innovation on corporate performance is more pronounced in large-sized businesses and enterprises located in the eastern region.Furthermore,a series of robustness tests confirm the validity of these findings.Finally,based on the empirical results,corresponding recommendations are proposed.This study provides a novel perspective on the relationship between green innovation and corporate performance,offering theoretical guidance and reference for the practice of green innovation in enterprises.