摘要
本文以2019年《上海市生活垃圾管理条例》的实施为准自然实验,采用双重差分法考察了生活垃圾分类政策对企业ESG(2014-2022年)表现的影响。本文的研究结果显示:《上海市生活垃圾管理条例》实施后,上海市属地企业的ESG表现显著提升,平均提升0.83分。经过平行趋势检验、三重差分法、排除其他政策影响和安慰剂检验等稳健性检验后,研究结论依然成立。异质性分析表明,生活垃圾分类政策主要提升非国有企业和公众关注度较高企业的ESG表现。机制分析表明,上海市属地企业ESG表现的提升主要由外部压力驱动,上海市垃圾分类板块企业ESG表现的提升主要由内在动力驱动。本文的结论启示我们应从更加全面的视角评估政策的后果。
This paper uses a quasi-natural experiment based on the implementation of the Shanghai Municipal Regulations on Domestic Waste Management in 2019 to examine the impact of the policy of domestic waste classification on corporate Environment,Social and Governance(ESG)performance using difference-in-difference(2014-2022).The research results show that after the implementation of the Shanghai Municipal Regulations on Domestic Waste Management,the ESG performance of enterprises in Shanghai has significantly improved,with an average improvement of 0.83 points.After parallel trend test,difference-in-difference-in-difference,exclusion of other policy impacts,and placebo test for robustness,the research conclusion remains valid.Heterogeneity analysis indicates that the policy of domestic waste classification mainly improves the ESG performance of non-state-owned enterprises and enterprises with high public attention.Mechanism analysis shows that the improvement of ESG performance of enterprises in Shanghai is mainly driven by external pressure,while that of Shanghai waste sorting sector enterprises is mainly driven by internal motivation.The conclusions of this paper suggest that we should evaluate the consequences of policies from a more comprehensive perspective.
作者
王智骁
何晓波
ZHIXIAO WANG;XIAOBO HE(Shanghai University of International Business and Economics)
出处
《产业经济评论》
CSSCI
2024年第1期57-78,共22页
Review of Industrial Economics
关键词
ESG
生活垃圾分类
政策评估
ESG
Domestic waste classification
Policy evaluation
