摘要
银行信贷是责任投资的关键部分,但信息不对称和风险收益不一致等问题严重影响银行对企业ESG建设的支持力度。本文基于2009-2022年A股上市公司数据,考察银行信贷对企业ESG表现的影响。研究表明:(1)整体银行信贷强度和短期银行信贷强度会抑制企业ESG表现;(2)整体银行信贷强度会抑制企业持续ESG策略;(3)银行信贷强度对企业ESG表现和持续ESG策略的抑制作用在非国有企业和高盈利企业中更加明显。
Bank credit is a key part of responsible investment,but problems such as information asymmetry and risk-return inconsistency have seriously affected banks'support for corporate ESG construction.Based on the data of A-share listed companies from 2009 to 2022,this paper examines the impact of bank credit on corporate ESG performance.The research indicates that:(1)the overall bank credit intensity and short-term credit intensity will inhibit the ESG performance of enterprises;(2)the overall bank credit intensity will inhibit the continuous ESG strategy of enterprises;(3)the inhibition effect of bank credit intensity on the ESG performance and the continuous ESG strategy of enterprises is more obvious in non-state-owned and high-profitability enterprises.
作者
张楠
李响
ZHANG Nan;LI Xiang
出处
《金融论坛》
CSSCI
北大核心
2024年第5期14-25,共12页
Finance Forum
基金
国家自然科学基金项目“考虑善因营销的企业运营策略优化与供应链协同研究”(72072094)。
