西安交通大学学报（社会科学版）2025，Vol.45Issue(1)：39-52,14.DOI:10.15896/j.xjtuskxb.202501004
ESG评级分歧对企业社会责任行为的影响:来自精准扶贫的证据
The Impact of ESG Rating Divergence on Corporate Social Responsibility:Evidence from Targeted Poverty Alleviation
摘要
Abstract
With the popularity of the ESG(environmental,social,and governance)concept,the sustainable development ability of enterprises has become an important index to evaluate the quality of enterprises.Many third-party rating agencies have also developed their own ESG rating systems to comprehensively evaluate the sustainable development of enterprises,while the parties in capital market understand and judge the ESG performance of enterprises according to the ESG rating results,intending to select high-quality investment targets.However,the results of ESG ratings differ greatly among different rating agencies,which may have a negative impact on the subsequent behavior of enterprises.So far,there have been few studies on ESG rating divergence,and no studies have directly explored the impact of ESG rating divergence on enterprises'subsequent social responsibility behaviors. Based on the perspective of targeted poverty alleviation,this paper takes Shanghai-Shenzhen A-share listed companies from 2016 to 2021 as samples to study whether ESG rating divergence will inhibit corporate social responsibility behavior.The study finds that ESG rating divergence significantly reduces the investment of enterprises in targeted poverty alleviation.The mechanism analysis shows that corporate reputation and managers'myopia are the internal mechanisms of the negative correlation between ESG rating divergence and targeted poverty alleviation in enterprises.Further analysis shows that ESG rating divergence mainly reduces the investment in hematopoietic poverty alleviation,while there is no significant impact on the investment in blood-transfusion poverty alleviation.Moreover,enterprises with low external pressure,state-owned enterprises or with CEOs who have experienced poverty are less influenced by ESG rating divergence in targeted poverty alleviation investment. The contribution of this paper is mainly reflected in three aspects:first,from the perspective of research,it expands the literature related to ESG rating divergence.Unlike previous papers,which mostly focus on the causes and phenomena of ESG rating divergence,this paper directly explores the impact of ESG rating divergence on the performance or behavior of enterprises,which is helpful to further understand the consequences of ESG rating divergence and has certain reference value for exploring related research.Second,unlike previous ESG studies,which always consider ESG as a whole or mainly focus on the environmental dimension(E)of ESG rating,this paper enriches the research on ESG social dimension(S),which helps to form a more comprehensive understanding and evaluation of enterprises'ESG performance.Third,from the perspective of targeted poverty alleviation with Chinese characteristics,this paper finds that ESG rating divergence is an important factor affecting targeted poverty alleviation in enterprises,which complements the research on the mechanism of implementing targeted poverty alleviation at a micro enterprise level. From the perspective of targeted poverty alleviation,this study finds that ESG rating divergence will weaken enterprises'social responsibility behaviors and induce opportunistic behaviors,which has important implications for the standardized and orderly development of ESG in China at the present stage.This study provides tool identification and guidance for improving targeted poverty alleviation policies,consolidating and expanding poverty alleviation achievements,also provides reference for enterprises to adopt more sustainable targeted assistance methods subsequently.关键词
ESG评级分歧/精准扶贫/企业社会责任/企业声誉/管理者短视/信息披露/机会主义行为Key words
ESG rating divergence/targeted poverty alleviation/CSR(corporate social responsibility)/corporate reputation/managerial myopia/information disclosure/opportunism分类
资源环境引用本文复制引用
宋献中,李双怡,潘婧..ESG评级分歧对企业社会责任行为的影响:来自精准扶贫的证据[J].西安交通大学学报（社会科学版）,2025,45(1):39-52,14.基金项目
国家自然科学基金重点项目(72132002). （72132002）
