政府补贴、企业ESG表现与绿色创新

doi:10.13776/j.cnki.resourcesindustries.20221024.003

摘要/Abstract

摘要： 为了建设以政府为主导、企业为主体、全社会共同参与的绿色创新体系，我国各级政府纷纷出台优化绿色创新制度环境的相关政策，通过政府补贴等手段积极推动全社会绿色创新发展。在此时代背景下，探究政府补贴对于绿色创新的影响作用，以及如何构建政府补贴对绿色创新的长效驱动实现机制，成为学术界一项重要的研究课题。为了厘清政府补贴与绿色创新之间的关系，本文选取2016—2020年我国864家沪深A股上市企业为研究样本，基于“资源-能力-行动”模型，将企业ESG表现纳入政府补贴和绿色创新的分析框架之中，从企业ESG表现视角探究政府补贴对绿色创新的影响机制，并采用固定效应模型进行实证检验。研究结果表明：1)政府补贴对绿色创新具有显著正向影响，能够直接推动企业绿色创新；2)政府补贴对企业ESG表现具有显著正向影响，能够激励企业关注环境保护、履行社会责任、提高治理绩效；3)企业ESG表现在政府补贴与绿色创新之间发挥了部分中介作用，政府补贴能够通过企业ESG表现中的环境责任表现和公司治理绩效表现影响企业的绿色创新，但企业的社会责任表现未在政府补贴与绿色创新之间发挥中介作用。与低ESG表现水平相比，高ESG表现水平下政府补贴对企业绿色创新的激励作用相对得到增强，因而政府要助力企业高质量绿色发展就必须善用、巧用补贴发放等激励手段，这就要求政府一方面适当加大补贴的力度和规模，引导、激励企业改善ESG表现，另一方面，还要严格监督落实企业的补贴使用情况，建立、健全补贴效果评价机制与ESG表现评估体系，根据企业ESG表现水平实行差异化的政府补贴政策，切实提高政府补贴的利用效率。

关键词: 绿色创新, 政府补贴, ESG表现, 可持续发展

Abstract:

In order to construct a green innovative system oriented by governments, operated by enterprises and public involved, all levels of governments issue series of supportive policies via governmental allowance in powering green innovation. It has been an important research topic to study the impacts of governmental allowance on green innovation, and to maintain it as a long-term drive. This paper clarifies the relation between governmental allowance and green innovation, selects 864 Chinese A-share listed companies in Shanghai and Shenzhen from 2016 to 2020 as the research sample, uses “resources-ability-action” model to incorporate the enterprise’s ESG performance into the analysis framework of governmental allowance and green innovation, explore the impacting mechanism of governmental allowance on green innovation from the perspective of enterprise’s ESG performance, verified by fixed effect model. The results show that governmental allowance have a significant positive impact on green innovation and can directly promote the green innovation of enterprises. Governmental allowance also plays an outstandingly positive role on enterprises’ ESG, encouraging enterprises to care about environmental protection, to fulfil social responsibilities and to increase governance performance. Enterprises’ ESG plays a partial intermediary role between governmental allowance and green innovation. Governmental allowance can impact enterprises’ green innovation through their ESG in environmental responsibilities and governance performance, but enterprises’ social responsibilities do not play a media role between governmental allowance and green innovation. Compared with a lower ESG level, governmental allowance plays a stronger role in enterprises’ green innovation under a higher ESG level. Governments shall manoeuver allowance to reach a high-quality green development, which requires governments enlarge allowance in an appropriate way to improve ESG. Use of such allowance shall be under strict supervision through a sound ESG evaluation system. Governmental allowance is suggested to be differentiated based on enterprises’ ESG levels to increase the use efficiency of governmental allowance.

Key words:

green innovation, governmental allowance, ESG performance, sustainable development

中图分类号:

F832.51
X322

蒋榕湄, 陈贵松. 政府补贴、企业ESG表现与绿色创新[J]. 资源与产业, 2022, 24(6): 90-102.

JIANG Rongmei, CHEN Guisong. Governmental allowance, enterprise ESG and green innovation[J]. Resources & Industries, 2022, 24(6): 90-102.

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