杨畅

• 1:澳门科技大学商学院
• 2:广东海洋大学经济学院

摘要(Abstract)：

现有研究主要聚焦于ESG评级分歧对企业个体环境行为的影响，而未充分关注其对企业间环境协同行为的潜在影响。本文基于利益相关者视角，以2011—2023年沪深A股上市企业为研究样本，实证分析了ESG评级分歧对企业绿色协同创新的影响，以及关键的利益相关者（投资者、竞争对手和上下游企业）关系对这一影响的调节效应。研究发现，ESG评级分歧显著抑制了绿色协同创新，这一结论在经过系列内生性处理和稳健性检验后依然成立。调节效应检验结果显示，投资者互动、市场竞争与供应链金融均能够缓解这种抑制效应。异质性分析表明，对董事网络结构洞丰富、数字化转型程度高、非重污染行业与高科技行业的企业而言，ESG评级分歧对绿色协同创新的负面效应更不明显。研究结论为优化ESG评级管理与企业间环境协同治理提供重要的理论支持与现实依据。

关键词(KeyWords)： ESG评级分歧;绿色协同创新;利益相关者

Abstract:

Keywords:

基金项目(Foundation): 教育部人文社会科学研究青年基金项目“工业机器人应用对制造业就业的影响:规模效应与极化效应”(23YJC790095);; 广东省教育厅普通高校青年创新人才类项目“粤港澳大湾区跨境资本流动与系统性金融风险防范研究”(2019WQNCX038)

作者(Author): 杨畅

DOI: 10.19647/j.cnki.37-1462/f.2025.07.002

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