首都经济贸易大学学报2025，Vol.27Issue(2)：95-112,18.DOI:10.13504/j.cnki.issn1008-2700.2025.02.007
ESG表现对企业供应链韧性的影响
The Impact of ESG Performance on Supply Chain Resilience Companies
摘要
Abstract
This paper takes manufacturing enterprises listed on the A-share markets from 2011 to 2022 as re-search samples to explore the impact of ESG performance on their supply chain resilience and the underlying mech-anism.The results demonstrate that ESG performance can significantly enhance the supply chain resilience of enter-prises.It finds that ESG performance improves supply chain resilience by facilitating enterprises to enhance their reputation,reducing financing constraints,and enhancing executive compensation incentives.The heterogeneity a-nalysis indicates that for large enterprises,those in regions with high environmental uncertainty or a superior legal environment,and those with poor financial conditions,the effect of ESG performance on supply chain resilience is more pronounced.The results of the interaction effect reveal that information asymmetry weakens the promoting effect of ESG performance on supply chain resilience.The economic consequence analysis indicates that the promo-ting effect is conducive to promoting the sustainable development of enterprises. This paper has the following contributions.Firstly,most studies focus on the direct consequences of ESG per-formance of enterprises.This paper,however,expands research on the economic impact of ESG performance from the conventional perspective of enterprises to the supply chain resilience encompassing other stakeholders.Second-ly,current research on ESG performance and supply chains mostly focuses on the impact of ESG performance on suppliers or customers,or studies the impact on the discourse power within the supply chain,but has not yet ex-plored the impact and mechanism of ESG performance from the perspective of the supply chain.Thirdly,it con-ducts a profound analysis of the internal mechanism through which ESG performance affects the supply chain resili-ence of enterprises from perspectives of enterprise reputation,financing constraints,and executive compensation,providing empirical support for revealing the specific paths through which ESG performance affects the supply chain resilience of enterprises. In addition,this paper concludes that exploring the impact and mechanism of ESG performance on supply chain resilience helps further understand the implementation effect of the"dual carbon"strategy,and provides ref-erences for maintaining supply chain stability and security.Firstly,enterprises should attach importance to the con-cept of ESG development and actively use ESG advantages to build a safe and stable supply chain system.Second-ly,it is necessary to classify and accurately implement policies according to the ESG performance of different enter-prises.Finally,we should pay attention to the leading role of core enterprises and realize the supply chain of sha-ring advantages and risks by actively practicing ESG performance.关键词
ESG表现/供应链韧性/企业声誉/融资约束/高管薪酬激励Key words
ESG performance/supply chain resilience/corporate reputation/financing constraints/executive compensation incentive分类
管理科学引用本文复制引用
姚正海,李昊泽,姚佩怡..ESG表现对企业供应链韧性的影响[J].首都经济贸易大学学报,2025,27(2):95-112,18.基金项目
国家社会科学基金后期资助项目"数字经济赋能高质量发展的作用机制与影响效应研究"(22FJYB030) （22FJYB030）
江苏省社会科学基金一般项目"数字技术驱动长三角文化产业转型升级的机制和对策研究"(22EYB008) （22EYB008）
