ESG实践、绿色创新与企业高质量发展——基于我国高科技企业的经验证据

ESG Practices,Green Innovation,and High-Quality Development of Enterprises:Empirical Evidence from China's High-Tech Enterprises

在当今ESG理念已逐步嵌入现代企业绿色治理体系的浪潮下,高科技企业如何有效开展ESG实践,实现高效率、高质量发展已成为企业追求的重要目标。本文以2011—2021年沪深A股上市高科技企业为研究对象,实证检验了高科技企业ESG实践对其高质量发展的影响,并从绿色创新视角进行了深入探究。结果表明,高科技企业ESG实践与高质量发展成正相关,并通过了一系列稳健性和内生性检验;同时,绿色管理创新和绿色技术创新均在高科技企业ESG实践与高质量发展中发挥着中介作用。异质性分析结果显示,ESG实践对国有、大规模以及处于成长期或成熟期的高科技企业的高质量发展起到更加明显的促进作用。本文为高科技企业完善ESG治理提供了方向,为ESG实践如何促发展提供了经验与建议。

In the current wave of integrating ESG(Environmental,Social,and Governance)concepts into modern corporate green governance systems,how high-tech enterprises can effectively implement ESG practices to achieve efficient and high-quality development has become a key goal for businesses.This paper examines the empirical evidence of the impact of ESG practices on the high-quality development of high-tech enterprises listed on the Shanghai and Shenzhen A-share markets from 2011 to 2021.It further explores this impact from the perspective of green innovation.The research results indicate a positive correlation between ESG practices and high-quality development in high-tech enterprises,which holds up under a series of robustness and endogeneity tests.Additionally,both green management innovation and green technology innovation serve as mediators in the relationship between ESG practices and high-quality development in these enterprises.Heterogeneity analysis shows that the promoting effect of ESG practices on high-quality development is more pronounced in state-owned,large-scale,and high-tech enterprises in their growth and maturity stages.This paper provides direction for improving ESG governance in high-tech enterprises and offers insights and suggestions on how ESG practices can facilitate development.