金融理论与教学2025，Vol.43Issue(6)：62-69,83,9.
企业ESG表现对战略激进度的影响
The Impact of Corporate ESG Performance on Strategic Aggressiveness:Evidence from the Perspective of Internal Control and Managerial Overconfidence
摘要
Abstract
This paper examines the impact of corporate ESG performance on strategic aggressiveness using data from A-share listed companies on the Shanghai and Shenzhen stock exchanges in China from 2015 to 2023.The results show that corporate ESG performance can significantly inhibit strategic aggressiveness.Mechanism tests indicate that good ESG performance inhibits strategic aggressiveness by improving corporate internal control and reducing managerial overconfidence.Heterogeneity analysis shows that the inhibitory effect of ESG performance on strategic aggressiveness is more pronounced in companies located in regions with high market competition and strict environmental regulations.This study helps to reveal the internal logic of how ESG performance affects strategic aggressiveness and provides reference for enhancing corporate sustainable development.关键词
ESG表现/战略激进度/内部控制/管理层过度自信Key words
ESG performance/strategic aggressiveness/internal control/managerial overconfidence分类
管理科学引用本文复制引用
GUO Yudong,ZHENG Yinnan..企业ESG表现对战略激进度的影响[J].金融理论与教学,2025,43(6):62-69,83,9.基金项目
湖南省研究生科研创新项目"环境规制对企业ESG信息披露质量的影响研究"(CX20240918) （CX20240918）
湖南省社会科学成果评审委员会一般课题"产业集聚与地区产业升级:长株潭融域发展的机理与路径研究"(XSP24YBC603). （XSP24YBC603）
