技术与创新管理2025，Vol.46Issue(6)：691-699,9.DOI:10.14090/j.cnki.jscx.2025.0608
ESG表现对企业绿色创新质量的影响研究
The Impact of ESG Performance on the Quality of Green Innovation of Enterprises
摘要
Abstract
This study aims to explore the impact of corporate environmental,social and governance(ESG)performance on the quality of corporate green innovation,as well as the moderating effect of gov-ernment subsidies and environmental protection investment.The research is based on the panel data of China"s A-share listed companies from 2009 to 2022 for empirical analysis.The results show that ESG performance can significantly improve the quality of corporate green innovation,and this conclusion is further verified in the robustness analysis.The results of heterogeneity analysis show that for enterprises without greenwashing and whose executives show overconfidence,their good ESG performance can bet-ter promote the improvement of green innovation quality.In addition,the analysis finds that government subsidies play a positive moderating role,that is,the more subsidies the government provides to enter-prises,the stronger the promotion effect of ESG performance on the quality of green innovation is,indi-cating that government subsidies can encourage enterprises to better transform ESG concepts into actual innovation results.However,environmental investment negatively moderates this positive relationship,that is,increasing environmental investment weakens the positive association between ESG performance and green innovation quality.Therefore,improving the ESG performance of enterprises is an important way to enhance the quality of green innovation,and the government should optimize the subsidy policy and give full play to its guiding role.Enterprises need to carefully plan environmental protection invest-ment,coordinate the relationship between environmental protection and innovation,and achieve sustain-able green development.关键词
ESG表现/政府补助/环保投资/绿色创新质量/绿色转型/可持续发展Key words
ESG performance/government subsidies/environmental protection investment/green inno-vation quality/green transformation/sustainable development分类
管理科学引用本文复制引用
陈培祯,詹湘东,龚晓叶..ESG表现对企业绿色创新质量的影响研究[J].技术与创新管理,2025,46(6):691-699,9.基金项目
国家社会科学基金项目(24BGL005) （24BGL005）
