摘要
本文以我国沪深A股制造业上市公司2011-2020年的数据为研究样本,实证检验了ESG实践对制造业企业实业资产投资水平的影响机制。结果表明:制造业加强ESG实践能够促进实业资产投资;融资约束在ESG实践与制造业企业实业资产投资之间起到了中介作用;数字化转型在ESG实践对制造业企业实业资产投资中存在单一门槛效应,在数字化水平程度较低时,ESG实践会抑制制造业企业实业资产投资水平。为此,本文提出政府应在数字经济发展中积极发挥引领作用;企业应贯彻ESG理念,完善企业融资环境,制定全面的数字化转型战略计划的对策建议。
This paper takes the data of Shanghai and Shenzhen A-share listed manufacturing companies from 2011 to 2020 as research samples to empirically test the influence of ESG practice on the industrial investment in manufacturing enterprises.The results show that strengthening ESG practice in manufacturing industry can promote in⁃dustrial investment and financing restriction plays an intermediary role in the process.Digital transformation has a single threshold effect on the investment.When the digital level is low,ESG practice will inhibit the investment.Therefore,this paper proposes that the government should actively play a leading role in the development of digital economy and enterprises should implement the concept of ESG,improve the financing environ⁃ment,and formulate a comprehensive strategic plan for digital transformation.
作者
沈望奇
SHEN Wang-qi(Wuhu Institute of Technology,Wuhu Anhui 241000)
出处
《天津商务职业学院学报》
2024年第6期3-11,共9页
Journal of Tianjin College of Commerce
基金
国家社会科学基金一般项目“我国数字化绿色化协同转型发展评价及推进策略研究”(项目编号:22BJY262)
芜湖职业技术学院校级一般项目“国家产教融合政策对企业创新的影响——以安徽省为例”(项目编号:WZYRC202410)的阶段性研究成果
关键词
ESG实践
数字化转型
实业投资
ESG practice
Digital transformation
Industrial investment
