沈阳工业大学学报（社会科学版）2026，Vol.19Issue(4)：28-39,12.DOI:10.7688/j.issn.1674-0823.2026.04.04
ESG责任履行对企业可持续创新的影响研究
Impact of ESG responsibility fulfillment on corporate sustainable innovation
摘要
Abstract
Corporate sustainable innovation is a key driving force for high-quality development and green transformation.Under the guidance of the"dual carbon"goals,the external environment has placed higher requirements on enterprises'environmental,social,and governance(ESG)responsibility fulfillment,and ESG performance has gradually become an important criterion for measuring corporate sustainable development.Using A-share listed companies from 2010 to 2024 as research samples,this paper constructs a multiple regression model to systematically examine the impact of enterprises'ESG responsibility fulfillment on their sustainable innovation capability.By introducing continuous indicators of innovation input and output,this paper characterizes enterprises'sustainable innovation capability from both input and output dimensions.A series of robustness and endogeneity tests are conducted using the instrumental variable method,Heckman two-stage model,propensity score matching(PSM),and other methods.Furthermore,this paper explores the mediating effects of digital transformation and financial flexibility,introduces the degree of industry competition to investigate its moderating effect,and finally conducts heterogeneity analysis based on enterprises'pollution attributes and regional differences.The results show that enterprises'active ESG responsibility fulfillment can significantly improve their sustainable innovation capability,and this conclusion still holds after a series of robustness and endogeneity tests.After distinguishing different dimensions of ESG,it is found that environmental,social,and governance performance all enhance enterprises'sustainable innovation capability,among which social and governance dimensions have more significant promoting effects.Mechanism analysis indicates that ESG responsibility fulfillment can strengthen sustainable innovation capability by promoting corporate digital transformation and improving financial flexibility.The moderating effect test shows that the degree of industry competition positively moderates the relationship between ESG responsibility fulfillment and sustainable innovation.Heterogeneity analysis reveals that the promoting effect of ESG responsibility fulfillment on sustainable innovation capability is more significant in non-heavy polluting enterprises and enterprises located in the eastern and central regions.From the two dimensions of corporate digital transformation and financial flexibility,this paper reveals the internal mechanism of how enterprises'ESG responsibility fulfillment affects their sustainable innovation capability,and points out the heterogeneous effects across industries and regions.It aims to provide theoretical references and managerial implications for enterprises to fulfill ESG responsibilities,enhance their sustainable innovation capability,and promote their high-quality development.关键词
ESG责任/数字化转型/财务柔性/可持续创新/行业竞争Key words
ESG responsibility/digital transformation/financial flexibility/sustainable innovation/industry competition分类
管理科学引用本文复制引用
席龙胜,李蕊..ESG责任履行对企业可持续创新的影响研究[J].沈阳工业大学学报（社会科学版）,2026,19(4):28-39,12.基金项目
国家社会科学基金一般项目(20BGL080) （20BGL080）
河南省科技厅软科学研究项目(262400412031). （262400412031）
