客户ESG表现对供应商绿色创新溢出效应分析

The Spillover Effect of the Customer’s ESG Performance on the Supplier’s Green Innovation

基于2009~2020年中国A股上市公司数据,构建客户和供应商一一配对样本,考察客户ESG表现对供应商绿色创新的影响及其作用机理。研究发现,客户ESG表现通过供应商的“环保意识趋同”效应和“绿色资源汲取”效应而促使供应商积极进行绿色创新,并显著提升了其绿色创新水平。异质性检验发现,当客户与供应商关系越稳定、彼此间信任程度越高以及客户议价能力越强时,客户ESG表现对供应商绿色创新的促进效果越为明显。此外,发现只有当客户“言行一致”时,才能真正促进供应商绿色创新水平的提升。文章从客户正向溢出视角延展了绿色创新的驱动因素研究,也为供应链企业如何实现绿色协同发展、提升可持续竞争优势提供了重要启示。

Based on firms listed in Chinese A-share markets from 2009 to 2020,we build one-to-one matching sample of customers and suppliers.This paper examines the impact of customer ESG performance on suppliers’green innovation and its mechanism.We find that customer ESG performance promotes suppliers to actively carry out green innovation and significantly improved their level of green innovation through the convergence effect of suppliers’environmental awareness and green resource absorption effect.The heterogeneity test finds that the more stable the relationship between customers and suppliers,the higher the trust between them and the stronger the bargaining power of customers,the more obvious the promotion effect of customer ESG performance on supplier green innovation.In addition,only if customers’words and deeds are consistent can suppliers’green innovation level be promoted.This paper extends the research on the driving factors of green innovation from the perspective of customer positive spillover,and also provides important enlightenment for supply chain enterprises to achieve green development and enhance sustainable competitive advantage.