西安交通大学学报（社会科学版）2025，Vol.45Issue(1)：13-26,14.DOI:10.15896/j.xjtuskxb.202501002
供应链创新如何影响企业ESG表现?
How does Supply Chain Innovation Affect Enterprise ESG Performance?
摘要
Abstract
In the post-COVID-19 era,the concept of environmental,social and governance(ESG)development has garnered unprecedented global attention.However,many Chinese enterprises,driven by the pursuit of maximizing shareholder value,face significant challenges in their ESG practices,including a lack of incentives,limited capabilities,and high implementation costs.These issues have significantly hindered their ESG performance.While the rise of new-generation information technologies has transformed traditional supply chains into modern,digitally-driven networks,there is still a lack of empirical research on whether supply chain innovations,particularly those focused on intelligent transformation and inter-organizational integration,can effectively enhance ESG performance in these enterprises. This paper takes the 2018 pilot program on supply chain innovation and application as a quasi-natural experiment.Using data from China's A-share listed companies from 2012 to 2020,it empirically examines the impact of supply chain innovation on corporate ESG performance and its underlying mechanisms through a difference-in-difference model.The findings reveal that supply chain innovation significantly enhances corporate ESG performance,and this conclusion remains robust after parallel trend tests,placebo tests,and various other robustness checks.Heterogeneity analysis indicates that the positive impact of supply chain innovation on ESG performance is more pronounced in state-owned enterprises,highly competitive industries,and firms with geographically concentrated supply chains.Further research shows that the improvement in ESG performance is primarily driven by financing,information disclosure,and green innovation effects.Additionally,supply chain innovation and application pilot enterprises exert a backward spillover effect on the ESG responsibilities of upstream suppliers. Building on existing research,this paper extends contributions in three aspects.First,it enriches the literature on supply chain management and ESG performance.While most research focuses on traditional supply chain factors such as supply chain concentration,transparency,network location,and finance and their effects on ESG performance,this paper takes a forward-looking approach by examining the role of modern supply chain management driven by innovation.Leveraging the supply chain innovation and application pilot policy,this study explores how modern,technology-integrated supply chain practices impact ESG performance.Second,this paper broadens the value creation scope of supply chain innovation.While existing literature primarily examines the economic impacts of supply chain innovation,such as corporate financial performance,there is limited research on its non-financial returns,including corporate environmental and social responsibility.By focusing on corporate ESG performance,this paper uncovers the non-economic benefits of supply chain innovation.Third,this study provides empirical evidence of the spillover effects within the supply chain.Existing research usually centers on the decisions of nodal enterprises and their direct effects,without adequately exploring the externalities generated by other entities in the supply chain.This paper finds that supply chain innovation and application pilot enterprises have a significant spillover effect,enhancing the ESG performance of upstream suppliers.These findings offer valuable insights into overcoming the challenges of corporate ESG development by leveraging external enterprise resources and fostering collaborative,sustainable growth among supply chain members. From the perspective of modern supply chains,this paper offers new theoretical insights and empirical evidence for enhancing corporate ESG performance and advancing China's ESG development path.The research findings assist the government in formulating more targeted policies and measures to support supply chain innovation,offering differentiated policy support to improve the ESG performance of various enterprises,and contributing to the overall high-quality development of enterprises.关键词
供应链创新/ESG/融资效应/信息披露效应/绿色创新效应/高质量发展Key words
supply chain innovation/ESG(environmental,social and governance)/financing effect/information disclosure effect/green innovation effect/high-quality development分类
资源环境引用本文复制引用
庞瑞芝,王宏鸣..供应链创新如何影响企业ESG表现?[J].西安交通大学学报（社会科学版）,2025,45(1):13-26,14.基金项目
国家社会科学基金重点项目(21AJY012) （21AJY012）
国家社会科学基金重大项目(21&ZD099). （21&ZD099）
