摘要
“双碳”战略背景下,企业在环境-社会-治理(ESG)方面的表现对促进企业可持续发展与持续成长发挥着重要作用。本文探讨企业ESG表现与企业成长之间的关系以及商业信用融资在两者关系之间的中介作用,并且进一步探究货币政策在企业ESG表现和商业信用融资之间的调节作用。选取2015—2020年中国商道融绿评级企业为研究样本,研究结果表明,企业ESG表现对企业成长有推动作用,并且商业信用融资起到部分中介作用。此外,紧缩的货币政策正向调节了企业ESG表现与商业信用融资之间的关系。
In the context of“carbon peaking and carbon neutrality”strategy,firms,performance in environmental,social,and governance(ESG)plays an essential role in promoting sustainable development and sustainable growth of firms.This paper discusses the relationship between corporate ESG performance and firm growth,as well as the mediating role of trade credit financing in the relationship between them.We further explore the moderating role of monetary policy between ESG performance and trade credit financing.The data were selected from SynTao Green Finance from 2015 to 2020.The results show that the ESG performance of firms promote the growth of enterprises,and trade credit financing plays a partial mediating role.In addition,tight monetary policy can positively moderate the relationship between ESG performance and trade credit financing.
出处
《当代经理人》
2023年第2期61-76,共16页
Contemporary Manager
