Year: 2025
Type: article
Abstract: In the context of the new round of global technological revolution and industrial change, manufacturing enterprises are facing problems such as key technology chokepoints and insufficient internal innovation, and ESG, as a core indicator for measuring the sustainable development capability of enterprises, can provide directional guidance for the innovative development of manufacturing enterprises. This research empirically analyses the impact and mechanism of ESG performance on corporate innovation based on the data of A-share listed manufacturing enterprises from 2019-2023. It is found that ESG performance has a positive promotion effect on corporate innovation. Heterogeneity analyses show that ESG performance of non-state-owned firms is a stronger positive contributor to corporate innovation relative to state-owned firms, and that ESG performance of non-high-tech firms is a stronger positive contributor to corporate innovation relative to high-tech firms. Therefore, we should pay attention to enterprise innovation activities, accelerate the construction of a standardised ESG rating system, and form an innovative system that enterprises pay attention to, society pays attention to, and the government supports.
Authors: Min Wan, S. M. Ferdous Azam, Runqian Kuang
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4413832276