管理学刊2025，Vol.38Issue(1)：1-20,20.DOI:10.19808/j.cnki.41-1408/F.2025.0001
数字基础设施建设如何影响企业ESG表现?
How Does Digital Infrastructure Impact Enterprise ESG Performance:Quasi-natural Experimental Based on the Broadband China Pilot Policy
摘要
Abstract
With the vigorous development of the digital economy and the deepening of sustainable development strategies,how digital infrastructure construction affects the ESG performance of enterprises has attracted much attention.Taking Shanghai-Shenzhen A-share listed companies from 2009 to 2022 as a sample,based on the quasi-natural experiment of Broadband China pilot policy,the multi-period differential model is used to investigate the impact of digital infrastructure construction on enterprise ESG performance and its mechanism.The results show that the construction of digital infrastructure significantly improves the ESG performance of enterprises,mainly through promoting the upgrading of human capital of enterprises,enabling the development of digital finance and promoting green technology innovation of enterprises.Heterogeneity analysis finds that digital infrastructure construction has a more significant effect on the ESG performance of state-owned enterprises and enterprises with a high degree of digital transformation,and has a greater impact on the ESG performance of enterprises in the eastern region and regions with high environmental regulation.Further analysis shows that digital infrastructure construction has a positive promoting effect on the performance of enterprises in the three dimensions of environment and governance,and the enhancement effect of enterprise ESG performance brought by digital infrastructure construction can restrain enterprise bankruptcy risk and enhance enterprise value to a certain extent.The research conclusion provides a new analytical perspective for enterprises to improve their ESG performance,and also provides theoretical support for China to accelerate the construction of digital infrastructure.关键词
数字基础设施建设/"宽带中国"试点政策/企业ESG表现/可持续发展Key words
digital infrastructure construction/Broadband China pilot policy/enterprise ESG performance/sustainable development分类
管理科学引用本文复制引用
崔登峰,白玲,张跃胜..数字基础设施建设如何影响企业ESG表现?[J].管理学刊,2025,38(1):1-20,20.基金项目
国家自然科学基金地区科学基金项目(72362030) （72362030）
国家社科基金重大项目(24&ZD083) （24&ZD083）
国家自然科学基金面上项目(72473106) （72473106）
