数字化转型对企业ESG表现的影响研究

A Study on the Impact of Digital Transformation on Corporate ESG Performance

现阶段,通过数字化转型提升ESG表现已成为企业提升竞争力、实现可持续发展的重要策略选择。文章基于2011—2021年我国沪深两市A股制造业上市公司数据实证考察企业数字化转型对ESG表现的影响效应与作用机制。研究结果表明:企业数字化转型对ESG表现具有显著正向效应,且这一结论在进行多项内生性处理和稳健性检验后仍然成立;企业数字化转型主要通过提升企业绿色创新绩效、抑制管理者短视行为及提高资源配置效率三条途径提升ESG表现;分析师关注和媒体关注强化了企业数字化转型对ESG表现的促进作用;基于所有权性质、要素密集度及规模等级的不同,企业数字化转型对ESG表现的影响具有显著异质性。研究结论可为企业推进数字化转型、提升ESG表现提供相应对策建议。

At present,enhancing ESG performance through digital transformation has become an important strategic choice for enterprises to improve competitiveness and achieve sustainable development.This paper empirically examines the impact and mechanism of corporate digital transformation on ESG performance based on data from A-share listed manufacturing companies in the Shanghai and Shenzhen stock markets between 2011 and 2021.Research findings:Corporate digital transformation has a significant positive effect on ESG performance,and this conclusion remains valid after conducting various endogeneity tests and robustness checks.Corporate digital transformation primarily improves ESG performance through three pathways:enhancing green innovation performance,restraining managerial shortsightedness behavior,and improving resource allocation efficiency.Analyst attention and media attention strengthen the promoting effect of corporate digital transformation on ESG performance.Furthermore,corporate digital transformation has significant heterogeneity in its impact on ESG performance based on ownership nature,factor intensity,and scale level.The conclusions of this paper provide a comprehensive set of strategies for enterprises to promote digital transformation and enhance ESG performance.