数字经济背景下ESG表现对上市公司绩效的影响研究

Research on the Impact of ESG Performance on Listed Companies’ Performance under the Background of Digital Economy

摘要: 在数字经济加速演进的大趋势下，企业实践ESG理念有了崭新的工具与路径，对其绩效的影响也越来越明显。本研究选取2011~2024年A股上市公司作为分析样本，实证探究企业ESG表现及其经营绩效的内在关联机制。研究发现：企业的ESG表现水平与其经营绩效之间呈现出显著的正向关联，该结果稳健；从企业性质、区域分布两个维度开展异质性分析后发现，在非国有企业和东部沿海企业里，这一特征表现得尤为突出。本文的研究为数字经济时代企业协同推进ESG实践与数字化转型提供了理论支持与政策启示。

Abstract: Under the prevailing trend of the accelerated evolution of the digital economy, enterprises have acquired new tools and pathways for implementing the ESG concept, and its impact on their performance is becoming increasingly evident. This study selects A-share listed companies from 2011 to 2024 as the analytical sample to empirically examine the intrinsic mechanisms linking corporate ESG performance and operational performance. The research finds that there is a significant positive correlation between the level of corporate ESG performance and operational performance, and this result is robust. Heterogeneity analysis across the dimensions of enterprise nature and regional distribution indicates that this characteristic is particularly pronounced in non-state-owned enterprises and enterprises located in the eastern coastal regions. This study provides theoretical support and policy insights for enterprises to collaboratively advance ESG practices and digital transformation in the era of the digital economy.