Full
Outline
ESG (environment, social and governance) is an important breakthrough to achieve high-quality development at the micro enterprise level, and is also a micro-resource allocation method to accelerate response to the sustainable development agenda. Based on Shanghai and Shenzhen A-share listed companies as research samples, the relationship and interaction mechanisms between corporate ESG and sustainable innovation were analyzed. The results show as follows Firstly, firm ESG performance contributes to the improvement of firm sustainable innovation, and the conclusion is still valid after a series of robustness tests. Secondly, the results of the mechanism test show that ESG performance can promote sustainable innovation by stimulating R&D investment, alleviating agency costs, and alleviating financing constraints. Thirdly, the regulatory mechanism test results show that government subsidies, as a resource enabling mechanism, can improve the positive effect of firm ESG and firm sustainable innovation. Fourthly, the results of ESG fractal dimension test show that environmental responsibility and social responsibility have a more obvious effect on promoting corporate sustainable innovation, and the incentive effect of ESG on corporate sustainable innovation has a heterogeneity effect in overseas experience of corporate executives. It provides management insights and policy references for accelerating the construction of corporate ESG information disclosure systems and continuously improving the sustainability of corporate innovation.
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| 科 Family | 属数 Number of genus | 种数 Number of species | 占总种数比例 Percentage of total species (%) | 属 Genus | 种数 Number of species | 占总种数比例 Percentage of total species (%) |
|---|---|---|---|---|---|---|
| 鹅膏菌科Amanitaceae | 2 | 11 | 5.26 | 鹅膏菌属 Amanita | 10 | 4.78 |
| 小菇科 Mycenaceae | 2 | 12 | 5.74 | 丝盖伞属 Inocybe | 5 | 2.39 |
| 多孔菌科 Polyporaceae | 8 | 14 | 6.70 | 蜡蘑属 Laccaria | 5 | 2.39 |
| 红菇科 Russulaceae | 3 | 23 | 11.00 | 小皮伞属 Marasmius | 6 | 2.87 |
| 小菇属 Mycena | 11 | 5.26 | ||||
| 光柄菇属 Pluteus | 5 | 2.39 | ||||
| 红菇属 Russula | 17 | 8.13 | ||||
| 栓菌属 Trametes | 5 | 2.39 |
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