工业技术经济2024，Vol.43Issue(1)：142-151,10.DOI:10.3969/j.issn.1004-910X.2024.01.015
经济政策不确定性对企业ESG表现的影响
The Impact of Economic Policy Uncertainty on ESG Performance of Enterprises
摘要
Abstract
The ESG performance of enterprises is receiving increasing attention,but will the intensification of economic poli-cy uncertainty affect their ESG performance?This article selects the annual report data of listed companies from 2010 to 2022 to em-pirically test the impact of economic policy uncertainty on the ESG performance of enterprises.The results indicate that the increase in economic policy uncertainty promotes the ESG performance of enterprises.Mechanism research has found that economic policy uncertainty affects the ESG performance of enterprises through the channel of enterprise costs.Among them,economic policy uncer-tainty can reduce intermediate consumption costs and tax costs,which is beneficial to the ESG performance of enterprises.It also increases the capital and other costs of enterprises,suppressing their ESG performance.The results of heterogeneity analysis indi-cate that economic policy uncertainty has a significant promoting effect on the ESG performance of non-state-owned,large-scale,and profitable enterprises.Further research has found that there is an inverted U-shaped relationship between economic policy un-certainty and corporate ESG performance,and there is a significant difference in the impact of economic policy uncertainty on va-rious costs of enterprises before and after the extreme value.Based on these,this article proposes policy recommendations to promote the ESG performance of enterprises.关键词
经济政策不确定性/ESG/上市企业/中间消耗成本/税费成本/资本成本Key words
economic policy uncertainty/ESG/listed companies/intermediate consumption cost/tax costs/capital cost分类
管理科学引用本文复制引用
潘艺,张金昌..经济政策不确定性对企业ESG表现的影响[J].工业技术经济,2024,43(1):142-151,10.基金项目
中国社会科学院重点登峰战略企业管理优势学科建设项目(项目编号:210203005) （项目编号:210203005）
中国社会科学院重大创新工程"中国制造业企业全要素生产率研究"(项目编号:2101000100020086). （项目编号:2101000100020086）
