ESG表现对企业融资约束的影响研究——基于内外部视角
DOI:
https://doi.org/10.6938/cmnnxs18Abstract
在“双碳”目标与可持续发展的战略背景下，ESG（环境、社会、公司治理）已成为衡量企业综合价值的核心维度，而融资约束始终是制约企业高质量发展的关键瓶颈。基于此，本文采用2014—2024年的沪深A股上市公司，实证研究了ESG表现对企业融资约束的影响研究，研究发现，ESG表现可以缓解企业的融资约束，并且通过了一系列稳健性和内生性检验，进一步研究发现ESG表现可以提升企业的信息透明度缓解融资约束，内部控制在二者之间发挥了正向调节作用。异质性分析中，在东部和非国有企业下，ESG表现对缓解融资约束的影响更为显著。
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