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<p>Based on selecting A-share listed companies in Shanghai and Shenzhen from 2013 to 2022 as the research sample, this paper explores the effect and mechanism of ESG performance on corporate innovation efficiency using a regression analysis model. It is found that <italic>ESG</italic> performance is positively correlated with corporate innovation efficiency at a 1% significance level with a correlation coefficient of 0.057, which means that ESG performance can improve corporate innovation efficiency. Government subsidies play a mediating role in the relationship between corporate ESG performance and corporate innovation, and corporate ESG performance can enable enterprises to obtain more government subsidies, which can promote the enhancement of corporate innovation capacity. The results of heterogeneity analysis show that the ESG performance of non-state-owned enterprises and enterprises in the growth period has a more obvious effect on the improvement of corporate innovation efficiency, and their correlation coefficients reach 0.537 and 0.483, respectively. To summarize, based on the enterprise level, exploring the impact and mechanism of ESG performance on green innovation efficiency has important theoretical and practical significance for promoting the transformation of a low-carbon economy.</p>
</abstract>

Based on selecting A-share listed companies in Shanghai and Shenzhen from 2013 to 2022 as the research sample, this paper explores the effect and mechanism of ESG performance on corporate innovation efficiency using a regression analysis model. It is found that ESG performance is positively correlated with corporate innovation efficiency at a 1% significance level with a correlation coefficient of 0.057, which means that ESG performance can improve corporate innovation efficiency. Government subsidies play a mediating role in the relationship between corporate ESG performance and corporate innovation, and corporate ESG performance can enable enterprises to obtain more government subsidies, which can promote the enhancement of corporate innovation capacity. The results of heterogeneity analysis show that the ESG performance of non-state-owned enterprises and enterprises in the growth period has a more obvious effect on the improvement of corporate innovation efficiency, and their correlation coefficients reach 0.537 and 0.483, respectively. To summarize, based on the enterprise level, exploring the impact and mechanism of ESG performance on green innovation efficiency has important theoretical and practical significance for promoting the transformation of a low-carbon economy.

Effects and Mechanisms of ESG Performance Affecting Firms’ Innovation Efficiency - Based on Regression Analysis Perspective

Applied Mathematics and Nonlinear Sciences

This work is licensed under the Creative Commons Attribution 4.0 International License.

Based on selecting A-share listed companies in Shanghai and Shenzhen from 2013 to 2022 as the research sample, this paper explores the effect and mechanism of...

Effects and Mechanisms of ESG Performance Affecting Firms’ Innovation Efficiency - Based on Regression Analysis Perspective

Published Online: Aug 05, 2024

Page range: -

Received: Apr 07, 2024

Accepted: Jun 22, 2024

DOI: https://doi.org/10.2478/amns-2024-2140

Keywords
Regression analysis model, ESG performance, Innovation efficiency, Correlation coefficient, Heterogeneity analysis

© 2024 Xiong Yin et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Effects and Mechanisms of ESG Performance Affecting Firms’ Innovation Efficiency - Based on Regression Analysis Perspective

Published Online: Aug 05, 2024

Page range: -

Received: Apr 07, 2024

Accepted: Jun 22, 2024

DOI: https://doi.org/10.2478/amns-2024-2140

KeywordsRegression analysis model, ESG performance, Innovation efficiency, Correlation coefficient, Heterogeneity analysis

© 2024 Xiong Yin et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Regression analysis model, ESG performance, Innovation efficiency, Correlation coefficient, Heterogeneity analysis