摘要
基于2010-2022年中国A股非金融类上市公司数据,利用2018年国务院办公厅印发的《“无废城市”建设试点工作方案》的实施情况进行准自然实验,使用双重差分模型探讨无废城市建设对企业ESG绩效的影响以及影响机制。结果表明,试点方案可以显著提升企业ESG绩效,并在一系列稳健性检验后仍然显著;这种提升效果在非重污染行业企业和政企关系较远的企业中更加明显。进一步分析表明试点方案的作用机制主要是通过提升企业高管环保意识来提高企业ESG绩效。
Based on data from non-financial A-share listed companies in China from 2010 to 2022,this study employs a quasi-natural experiment design leveraging the implementation of the"Pilot Program for Waste-Free City Construction"issued by the General Office of the State Council in 2018.Using a Difference-in-Differences(DID)model,we investigate the impact of waste-free city construction on the Environmental,Social,and Governance(ESG)performance of enterprises and the underlying mechanisms.The results indicate that the program significantly enhances corporate ESG performance,with findings remaining after a series of robustness tests.This positive effect is more pronounced in non-polluting industries and in firms with fewer direct government-business ties.Further analysis reveals that the primary mechanism through which the pilot program operates is by increasing top management's environmental awareness,which in turn improves corporate ESG performance.
作者
郑春美
任禹洁
Zheng Chunmei;Ren Yujie
出处
《河南大学学报(社会科学版)》
北大核心
2025年第3期22-28,152,153,共9页
Journal of Henan University(Social Sciences)
