工业技术经济2025，Vol.44Issue(5)：53-61,9.DOI:10.3969/j.issn.1004-910X.2025.05.006
绿色制造与企业ESG表现
Green Manufacturing and Corporate ESG Performance
摘要
Abstract
Green manufacturing is an important part of ecological civilization construction and industrial transformation and upgrading.Realizing green transformation of enterprises from the perspective of green manufacturing construction is crucial to the high-quality development of Chinese enterprises.Based on the data of China's A-share listed firms from 2012～2023,a staggered DID model is used to empirically test the impact of green factory ratings on corporate ESG performance.The study finds that the cer-tification of green manufacturing,represented by green factory ratings,is beneficial to the ESG performance of firms.Mechanism a-nalysis shows that the green factory can promote corporate ESG performance through two channels:accelerating the green and low-carbon transformation of enterprises and alleviating corporate financing constraints.Heterogeneity analysis finds that the impact effect of green factory certification is stronger in enterprises with higher media attention,non-heavily polluting industries,and the eastern region.In addition,the green factory certification policy can improve the economic performance of enterprises and realize emission reduction and efficiency.Moreover,there is a spillover effect on upstream and downstream enterprises,which plays the role of a model enterprise as a benchmark.The study provides important policy references on how companies can achieve green and sustai-nable development.关键词
绿色制造/绿色工厂评定政策/ESG/多期双重差分模型/绿色低碳转型/减排增效/融资约束/企业经济Key words
green manufacturing/green factory certification policy/ESG/staggered DID model/green and low-carbon transformation/emission reduction and increase efficiency/financing constraints/enterprise economics分类
管理科学引用本文复制引用
杜然,刘柯,方齐云..绿色制造与企业ESG表现[J].工业技术经济,2025,44(5):53-61,9.基金项目
中央高校基本科研业务费专项资金"'双碳'背景下的数绿融合赋能制造业企业转型升级研究"(项目编号:YCJJ20230686) （项目编号:YCJJ20230686）
教育部人文社会科学研究青年基金"中国物流业非均衡发展形成机制、测度与影响效应研究:要素投入及其空间集聚的视角"(项目编号:19YJC790007). （项目编号:19YJC790007）
