摘要
ESG作为关注企业环境责任、社会责任和内部治理的综合性评价体系,对企业实现可持续高质量发展具有重要意义。文中选择2011—2021年中国沪深A股煤炭上市企业作为研究样本,通过固定效应模型和中介效应模型实证检验ESG表现对上市煤炭企业绩效的影响,并探究研发投入在ESG表现对煤炭企业绩效的影响中发挥何种作用。研究结果表明,煤炭企业ESG表现对企业绩效具有促进作用,而研发投入在ESG表现对企业绩效的影响过程中发挥部分中介作用,煤炭企业ESG表现通过增加研发投入来促进企业绩效。通过变量缩尾检验、中介效应稳健性检验和内生性检验后依然成立。研究不仅丰富了ESG表现与煤炭企业绩效领域的相关文献,也为煤炭企业进行ESG实践提升企业绩效提供了理论支撑和经验证据。
As a comprehensive evaluation system that focuses on corporate environmental responsibility,social responsibility and internal governance,ESG is of great significance for enterprises to achieve sustainable and high-quality development.This paper selects Shanghai and Shenzhen A-share listed coal companies from 2011 to 2021 as research samples,empirically tests the impact of ESG performance on the performance of listed coal enterprises through fixed effect model and intermediary effect model,and explores the role of R&D investment in the impact of ESG performance on the performance of coal enterprises.The results show that ESG performance of coal enterprises has a positive promoting effect on firm performance,that R&D investment plays a partial mediating role in the influence of ESG performance on firm performance,and that ESG performance of coal enterprises promotes the growth of firm performance by increasing R&D investment.This conclusion is still valid after variable tail-shrinking test,robustness test of mediating effect and endogeneity test.The research not only enrich the relevant literature in the field of ESG performance and coal enterprise performance,but also provide theoretical support and empirical evidence for coal enterprises to carry out ESG practice to improve enterprise performance.
作者
胡飞
郭丽芳
HU Fei;GUO Lifang(School of Economics and Management,Taiyuan University of Technology,Jinzhong 030600,China)
出处
《技术与创新管理》
2024年第2期209-215,共7页
Technology and Innovation Management
基金
山西省科技战略研究专项“数字金融对山西中小企业创新的影响机制和政策研究”(202204031401062)。
关键词
煤炭企业
企业绩效
ESG表现
研发投入
固定效应模型
coal enterprises
enterprise performance
ESG performance
R&D investment
fixed effect model
