摘要
履行ESG责任是企业绿色创新的主要动力,当前各评级机构所采用的评级标准体系不统一,ESG评级结果之间存在显著分歧。为探究这一现象是否会加剧企业经营压力从而影响企业绿色创新成果,采用2015—2023年我国A股制造业上市企业年度观察样本数据,从创新行为视角实证检验ESG评级分歧是否影响以及如何影响制造业企业实质性绿色创新和策略性绿色创新。研究发现,ESG评级分歧能显著倒逼制造业企业开展绿色创新活动,对企业策略性绿色创新的倒逼效应更强。ESG评级分歧通过融资约束、内部绩效压力与代理成本机制,显著驱动制造业企业偏好策略性绿色创新。异质性分析表明非高污染企业、国有企业和东部地区更易受此影响。因此,企业、评级机构与政府应通过提升环保透明度、统一ESG标准与政策协同,共同推动绿色转型,助力经济高质量发展。
Fulfilling esg responsibilities is the main driving force for enterprises'green innovation.currently,the rating standards adopted by various rating agencies are not unified,and there are significant differences in esg rating results.to explore whether this phenomenon will increase the operational pressure on enterprises and thereby affect their green innovation achievements,this paper uses annual observation sample data of a-share manufacturing listed companies in china from 2015 to 2023 to empirically examine from the perspective of innovation behavior whether and how esg rating divergence affects substantive and strategic green innovation of manufacturing enterprises.the research finds that esg rating divergence can significantly prompt manufacturing enterprises to carry out green innovation activities,and the prompting effect on strategic green innovation is relatively stronger.esg rating divergence significantly drives manufacturing enterprises to prefer strategic green innovation through mechanisms of financing constraints,internal performance pressure,and agency costs.heterogeneity analysis shows that non-high-pollution enterprises,state-owned enterprises,and enterprises in the eastern region are more susceptible to this influence.therefore,enterprises,rating agencies,and the government should jointly promote green transformation and support high-quality economic development by enhancing environmental transparency,unifying esg standards,and coordinating policies.
作者
郭金忠
谢杨
刘晓玲
Guo Jinzhong;Xie Yang;Liu Xiaoling(Xinjiang University Of Finance And Economics,Urumqi Xinjiang,830012,China)
出处
《统计与管理》
2026年第2期133-147,共15页
Statistics and Management
基金
国家自然科学基金地区项目“科研人员校友网络对高校科技成果转化的影响及机制研究”(72264036)。
关键词
ESG评级分歧
绿色创新
融资约束
管理层绩效
代理成本
Esg Rating Divergence
Green Innovation
Financing Constraints
Management Performance
Agency Costs
