Environmental, social and governance performance and green transformation strategies for enterprises: Improving technical efficiency or expanding technological boundaries

Under the ongoing implementation of the "dual carbon" goal, research has focused on the impact of Environmental, Social, and Governance (ESG) initiatives on green innovation. However, few studies have analyzed in depth the mechanisms of ESG impact on green total factor productivity (green...

Full description

Saved in:
Bibliographic Details
Published in:PloS one 2024-03, Vol.19 (3), p.e0299767-e0299767
Main Authors: Niu, Dengyun, Wang, Zhihua
Format: Article
Language:English
Subjects:
Biology and Life Sciences
Business enterprises
China
Ecology and Environmental Sciences
Economic aspects
Economic development
Engineering and Technology
Evaluation
Forecasts and trends
Green technology
Growth
Innovations
Natural resources
Social Sciences
Stock markets
Sustainable development
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Under the ongoing implementation of the "dual carbon" goal, research has focused on the impact of Environmental, Social, and Governance (ESG) initiatives on green innovation. However, few studies have analyzed in depth the mechanisms of ESG impact on green total factor productivity (green TFP). Here, we explored the impact of ESG performance on green TFP, green technical efficiency, and green technological progress using A-share listed companies in China's Shanghai and Shenzhen stock markets from 2011 to 2021. The results show that good ESG performance can significantly improve the green TFP of enterprises, and that this effect is more prominent in industries with lower environmental risks and enterprises in the growth and maturity stages. We identified the importance of the psychological account path and propose that the promotional effect of ESG performance on green TFP mainly derives from improving green technical efficiency, rather than from expanding green technological boundaries. These findings have practical implications for guiding companies to implement ESG concepts, strengthening the synergistic role of government regulation and professional supervision, and promoting micro-level implementation of innovation-driven and sustainable development strategies, thereby promoting high-quality development.
ISSN:1932-6203
1932-6203
DOI:10.1371/journal.pone.0299767