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以我国2009—2021年A股上市公司数据为样本，实证检验ESG表现对企业财务绩效的影响及其机制。研究发现，ESG表现较好的企业能够显著促进其财务绩效的提升。同时，ESG表现通过融资约束影响财务绩效，ESG表现好，能缓解企业融资约束困境，进而促进企业财务绩效的提高。进一步研究发现，与国有企业相比，非国有企业的ESG表现更好，且对财务绩效提升的促进作用更强。
Abstract：Taking the data of A-share listed companies in our country from 2009 to 2021 as samples, this paper empirically tests the influence of ESG performance on corporate financial performance and its mechanism. The study found that enterprises with better ESG performance can significantly promote their financial performance. At the same time, ESG performance affects financial performance through financing constraints. Better ESG performance will alleviate the dilemma of financing constraints and promote the improvement of financial performance of enterprises. Further research found that compared with state-owned enterprises, non-state-owned enterprises have better ESG performance and a stronger role in promoting the improvement of financial performance.
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基本信息:
中图分类号:F832.51;F270;F275;X322
引用信息:
[1]夏鑫,任佳慧,陈智,等.企业ESG表现、融资约束与财务绩效研究[J].山东工商学院学报,2023,37(03):1-11.
基金信息:
国家社科基金项目一般项目“中国上市公司ESG理念的行为响应、动力机制及推进策略研究”(21BGL 101)
2023-06-15
2023-06-15