逐绿前行:政府绿色采购增进企业绿色治理研究OA北大核心CHSSCDCSSCICSTPCD

Fully exploiting the effect of institutional incentives to enhance the endogenous power of corporate green governance participation is conducive to improving the national environmental governance system and promoting green and low-carbon economic and social transformation.Therefore,there is an urgent need to implement flexible market-based environmental policy tools that guide and incentivize enterprises to take the initiative to undertake environmental social responsibility and strengthen green governance. As a typical market-based environmental policy tool,green public procurement(GPP)receives increasing attention for guiding green production and consumption and promoting participation in green governance.This paper uses data from China's A-share listed companies from 2004 to 2021 and capitalizes on the release of the GPP lists of energy-saving products and environmental labeling products.It manually collects information on enterprises included in the lists to construct a staggered difference-in-differences(DID)model and examines the impact of GPP on corporate green governance from the perspectives of conceptual,process,and end-of-pipe governance. The findings reveal that being included in the GPP lists can improve the green governance performance of enterprises.This improvement remains consistent after considering the potential endogeneity problem and conducting a series of robustness tests.The mechanism analysis further shows that GPP can strengthen enterprises'awareness of environmental governance,compensate for green innovation,and incentivize investment in environmental protection equipment,thereby improving their green governance.The cross-sectional analysis indicates that the micro-green governance effect of GPP is more pronounced in industries with heavy pollution,strict regulation,and fierce competition,as well as high-tech industries.Moreover,the policy effectiveness implemented through mandatory procurement is higher than that through priority procurement.The above findings provide empirical evidence for a comprehensive understanding of the economic and environmental benefits of the implementation of GPP in China.They also offer valuable insights for improving the institutional framework of GPP and enhancing the quality and efficiency of environmental governance. The possible marginal contributions of this paper are as follows.First,it expands the research boundaries of evaluating the benefits of GPP and further complements the literature on government demand influencing corporate behavior.Second,it provides a new idea of using market-based instruments to effectively promote corporate green governance,avoiding the distortion of corporate behavior by rigid environmental regulations.Third,it uses text analysis techniques to identify green procurement projects from overall government procurement contracts,which provides a new method for accurately identifying GPP.