数字化转型、全要素生产率与企业ESG表现

Digital Transformation, Total Factor Productivity, and Corporate ESG Performance

摘要: 随着全球气候变化和可持续发展意识的提升，ESG (环境、社会与治理)理念成为企业高质量发展的核心评价体系。同时，数字化转型成为企业适应新常态、实现创新驱动的必然选择。在此背景下，研究企业数字化转型与ESG表现的关联性具有重要的现实意义。本文选取2013~2023年中国A股上市公司数据，运用固定效用模型、中介效应模型验证数字化转型与ESG表现的关系，并检验全要素生产率的中介效应，得出结论企业数字化转型程度越高，其ESG表现越好，两者之间存在显著的正相关关系。并且通过借助提高全要素生产率来促进ESG表现。在高新技术企业和中东部地区的企业，数字化转型对ESG表现的影响更为显著。

Abstract: Against the backdrop of global climate change and heightened awareness of sustainable development, the ESG (Environmental, Social, and Governance) concept has become a core evaluation framework for high-quality corporate development. Simultaneously, digital transformation has emerged as an inevitable choice for enterprises to adapt to the new normal and achieve innovation-driven growth. In this context, studying the relationship between corporate digital transformation and ESG performance is of significant practical importance. This paper utilizes data from China’s A-share listed companies from 2013 to 2023, employing fixed-effects models and mediation effect models to examine the relationship between digital transformation and ESG performance, as well as to test the mediating effect of total factor productivity. The study concludes that a higher degree of corporate digital transformation is associated with better ESG performance, indicating a significant positive correlation between the two. Furthermore, digital transformation enhances ESG performance by improving total factor productivity. The impact of digital transformation on ESG performance is more pronounced in high-tech enterprises and companies located in the central and eastern regions of China.