摘要
基于2011—2023年上市公司数据,研究ESG表现对企业RCEP投资的影响,结果表明:(1)ESG表现能显著推动企业RCEP投资,传导机制为提高企业所有权优势、内部化优势及区位优势整合能力;(2)ESG表现对企业RCEP投资的推动作用在资本技术密集型企业、重污染行业企业以及中西部地区企业中更显著;(3)ESG各分项表现都能显著推动企业RCEP投资;(4)ESG表现还能通过与投资规模的交互作用,显著提高企业在RCEP地区的投资收益;(5)RCEP协定签署能够显著增强ESG表现对企业RCEP投资的促进作用。
Based on data from listed companies in China spanning 2011 to 2023,this paper examines the impact of ESG performance on corporate RCEP investment.The results demonstrate that:(1)Superior ESG performance significantly promotes corporate RCEP investment,primarily through enhancing firms’ownership advantages,internalization advantages,and capabilities in integrating location-specific advantages.(2)The positive effect of ESG performance on RCEP investment is more pronounced for capital-and-technology-intensive enterprises,heavily polluting industries,and firms in Central and Western China.(3)All the individual ESG dimensions significantly drives corporate RCEP investment.(4)ESG performance can also significantly improve investment returns within the RCEP region through its interaction with investment scale.(5)The signing of the RCEP Agreement significantly strengthens the positive impact of ESG performance on corporate RCEP investment.
作者
郭妙梅
余官胜
GUO Miao-mei;YU Guan-sheng(School of Economics,Fujian Normal University,Fuzhou 350117)
出处
《软科学》
北大核心
2025年第8期114-119,144,共7页
Soft Science
基金
浙江省哲学社会科学规划课题一般项目(23NDJC341YB)
福建省社会科学基金重点项目(FJ2022A021)
福建省自然科学基金面上项目(2023J01288)。
关键词
ESG表现
RCEP区域经济一体化
对外直接投资
国际生产折衷理论
ESG performance
RCEP regional economic integration
outward foreign direct investment
eclectic paradigm of international production
