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ESG表现对中国制造业企业国际竞争力的影响研究
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Abstract:
随着全球市场的日益竞争和社会对可持续发展的日益关注，环境、社会和公司治理绩效(ESG)因其综合性和可持续性而成为制造业企业保持竞争力的关键要素之一。本文选取2016~2021年沪深A股制造业上市公司数据作为研究样本，基于固定效应模型，实证检验ESG表现对中国制造业企业国际竞争力的影响。研究表明：ESG表现能显著提高制造业企业国际竞争力。此外，根据行业和产权性质划分的分组研究表明：非重污染企业和非国有企业更容易通过ESG表现提高其国际竞争力。进一步分析发现，重污染企业滞后一期后的ESG表现能显著提升其国际竞争力，即从长期来看，重污染企业积极的ESG表现可以提升其国际竞争力。研究结论不仅为我国ESG政策优化和实施提供了理论和实证参考，而且对我国企业提升国际竞争力、践行可持续发展理念具有重要启示。
With the increasing competition in the global market and society’s growing concern for sustainable development, environmental, social and corporate governance performance (ESG) has become one of the key elements for manufacturing firms to maintain their competitiveness due to its comprehensiveness and sustainability. This paper selects the data of A-share listed manufacturing companies in Shanghai and Shenzhen from 2016 to 2021 as the research sample, and empirically examines the impact of ESG performance on the international competitiveness of Chinese manufacturing companies based on the fixed effect model. The study shows that ESG performance can significantly improve the international competitiveness of manufacturing enterprises. In addition, the grouping study based on industry and ownership nature shows that non-heavily polluting enterprises and non-state-owned enterprises are more likely to improve their international competitiveness through ESG performance. Further analysis reveals that the ESG performance of heavily polluting enterprises after one lag period can significantly improve their international competitiveness, i.e., in the long run, the positive ESG performance of heavily polluting enterprises can improve their international competitiveness. The findings of the study not only provide theoretical and empirical references for the optimization and implementation of China’s ESG policies, but also provide important insights for China’s enterprises to enhance their international competitiveness and practice the concept of sustainable development.
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