经济增长目标与企业ESG表现
Economic Growth Targets and Corporate ESG Performance
摘要: 提升企业ESG表现已成为落实节能减碳责任的重要抓手，但地方政府行为如何影响ESG表现仍待明确。文章以2009~2020年沪深A股上市公司为样本，实证检验地级市经济增长目标对企业ESG表现的影响。研究发现：经济增长目标显著提升企业ESG表现，该结论通过工具变量法及多重稳健性检验；三条作用机制揭示内在路径：激励企业绿色创新、推动智能制造转型、强化公众环境关注；异质性分析表明，该效应对国有企业及东部企业更为显著。研究为破解经济增长与可持续发展间矛盾提供了微观机制与政策路径。
Abstract: Enhancing corporate ESG performance has become an important tool to implement the responsibility of energy saving and carbon reduction, but how local government behavior affects ESG performance remains to be clarified. This paper empirically examines the impact of economic growth targets of prefecture-level cities on corporate ESG performance using a sample of A-share listed companies in Shanghai and Shenzhen from 2009 to 2020. The study finds that economic growth targets significantly enhance corporate ESG performance, which is tested by the instrumental variables method and multiple robustness tests; three mechanisms reveal the internal paths: incentivizing green innovation, promoting smart manufacturing transformation, and strengthening public environmental concern; and heterogeneity analysis shows that the effect is more significant for state-owned enterprises and eastern enterprises. This study provides micro-mechanisms and policy paths for solving the contradiction between economic growth and sustainable development.
文章引用：马超越. 经济增长目标与企业ESG表现[J]. 社会科学前沿, 2025, 14(8): 184-194. https://doi.org/10.12677/ass.2025.148705

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