数字经济背景下的ESG表现与企业绿色技术创新

ESG Performance and Corporate Green Technology Innovation in the Context of Digital Economy

摘要: 本文立足于数字经济深度发展的宏观背景，探讨ESG表现对企业绿色技术创新的影响。实现“双碳”目标要求企业从根本上转变发展模式，ESG为企业践行可持续发展提供了综合的管理框架，而绿色技术创新则是实现环境效益与长期竞争力突破的关键路径。在数字化转型不断深化的情境下，二者结合研究对于理解企业如何通过具体行动响应战略转型具有核心意义。本文以2009~2023年中国A股上市公司为样本，实证检验ESG表现对企业绿色技术创新的影响，并重点探究企业声誉和研发投入在其中的作用机制。研究发现：(1) 良好的ESG表现能够显著促进企业绿色技术创新；(2) 企业声誉与研发投入在二者间均发挥显著的部分中介作用，揭示了“外部资源获取”与“内部资源转化”的关键传导路径；(3) 数字化转型可强化二者关系且该效应在非国有企业中更为显著。本文结论为理解数字经济时代ESG表现的经济后果提供了机制性依据，并对引导企业通过ESG实践驱动绿色创新及相关部门实施分类治理具有启示意义。

Abstract: Based on the macro background of the in-depth development of the digital economy, this study explores the impact of ESG performance on enterprises’ green technology innovation. Achieving the “Dual Carbon” goals requires enterprises to fundamentally transform their development models. ESG provides a comprehensive management framework for enterprises to practice sustainable development, and green technology innovation is the key path to realizing environmental benefits and long-term competitiveness breakthroughs. In the context of the continuous deepening of digital transformation, the combined study of the two is of core significance for understanding how enterprises respond to strategic transformation through specific actions. This paper takes Chinese A-share listed companies from 2009 to 2023 as samples to empirically test the impact of ESG performance on enterprises’ green technology innovation, and focuses on exploring the role mechanisms of enterprise reputation and R&D investment. The research findings are as follows: (1) Good ESG performance can significantly promote enterprises’ green technology innovation; (2) Enterprise reputation and R&D investment both play significant partial mediating roles between the two, revealing the key transmission paths of “external resource acquisition” and “internal resource transformation”; (3) Digital transformation can strengthen the relationship between the two, and this effect is more significant in non-state-owned enterprises. The conclusions of this paper provide a mechanism-based basis for understanding the economic consequences of ESG performance in the digital economy era, and have implications for guiding enterprises to drive green innovation through ESG practices and for relevant departments to implement classified governance.