企业绿色转型与企业绩效研究综述

A Review of Research on Corporate Green Transformation and Enterprise Performance

摘要: 在全球可持续发展浪潮与国内双碳战略落地实施的大背景下，企业实施绿色变革已然成为自身转型升级、迈向高质量发展的必由之路。本文聚焦于企业绿色转型与绩效表现之间的关联，系统阐述了绿色转型的概念界定与量化方式，总结了企业绩效的多维度评估框架，并重点梳理了二者关系的实证研究进展及其作用机理。研究表明，企业绿色转型对财务绩效、环境绩效和ESG综合绩效的影响因行业特征、产权性质、转型阶段等因素而呈现差异性，绿色创新在两者之间扮演着重要的中介角色，而环境规制、融资约束、数字化转型等因素则对转型效应的强弱具有调节作用。在此基础上，本文揭示了现有研究存在的不足，并对未来研究方向提出了展望。

Abstract: Driven by global sustainable development goals and China’s dual-carbon strategy, promoting green transformation has become a crucial strategic pathway for enterprises to achieve high-quality development. This paper focuses on the relationship between corporate green transformation and firm performance, systematically elaborating on the conceptual definition and measurement methods of green transformation, summarizing the multi-dimensional evaluation framework of corporate performance, and critically reviewing the empirical research progress and underlying mechanisms concerning their relationship. The findings indicate that the impact of corporate green transformation on financial performance, environmental performance, and ESG comprehensive performance varies depending on factors such as industry characteristics, ownership nature, and transformation stage. Green innovation plays a key mediating role between the two, while factors including environmental regulation, financing constraints, and digital transformation moderate the strength of the transformation effect. On this basis, this paper identifies the limitations of existing research and proposes directions for future investigation.