Regional Perspective on ESG Practice and Corporate Innovation: Evidence from A-Share Listed Companies in Guangdong Province
ESG実践と企業革新の地域的視点：広東省A株上場企業の証拠 (AI 翻訳)
Yuan Huang, Haisong Liu
🤖 gxceed AI 要約
日本語
本研究は、2014年から2023年までの広東省のA株上場企業570社のパネルデータを用いて、ESGパフォーマンスと企業革新（特許出願数）の関連を分析した。固定効果モデルの推定結果、ESGパフォーマンスは企業革新と正の相関を示し、所有構造や企業規模によって異なることが明らかになった。政策提言として、ESG開示制度の改善と革新戦略との統合を促している。
English
This study analyzes the association between ESG performance and corporate innovation using panel data of 570 A-share listed companies in Guangdong Province from 2014 to 2023. Fixed-effects estimates show a positive correlation between ESG performance and patenting activity, varying by ownership and firm size. The findings suggest policy improvements in ESG disclosure and integration with innovation strategies.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の地域データに基づくESGと革新の実証研究であり、日本企業のESG戦略や開示実務に示唆を与える。特に、ESG評価と特許活動の関連は、日本企業のイノベーション経営に参考となる。
In the global GX context
This regional evidence from China contributes to global ESG scholarship by linking ESG performance to innovation outcomes. It offers insights for policymakers and firms on integrating ESG with innovation strategies, relevant to global disclosure frameworks like ISSB and CSRD.
👥 読者別の含意
🔬研究者:ESGと企業革新の関連を中国地域データで検証した実証研究として、地域比較や因果推論の拡張に有用。
🏢実務担当者:ESGパフォーマンス向上が特許活動に寄与する可能性を示し、企業のESG戦略とイノベーション統合の根拠となる。
🏛政策担当者:ESG開示制度の改善と革新戦略の統合を促す政策提言に活用できる。
📄 Abstract（原文）
ESG performance has become increasingly relevant to corporate sustainability and long-term competitiveness. Drawing on stakeholder theory and the resource-based view, this study examines the association between ESG performance and corporate innovation using a panel dataset of 570 A-share listed companies in Guangdong Province from 2014 to 2023, comprising 5,700 firm-year observations. Corporate innovation is measured as the natural logarithm of one plus the total number of patent applications, while ESG performance is represented by the Huazheng ESG rating. A two-way fixed-effects model is estimated, controlling for firm size, leverage, profitability, operating cash flow, and firm age. The baseline estimates indicate a positive and statistically significant association between ESG performance and corporate innovation after observable firm characteristics and fixed effects are accounted for. This relationship remains positive in robustness analyses using an alternative ESG measure, excluding observations from 2020–2021, winsorising continuous variables, and including industry fixed effects. Subgroup analyses suggest that the association varies by ownership structure and firm size. Positive and statistically significant coefficients are reported for state-owned, non-state-owned, and small firms, whereas the estimate for large firms is not statistically significant. These findings provide regional evidence that stronger ESG performance is associated with greater patenting activity among listed firms in Guangdong Province. The findings suggest that policymakers should improve ESG disclosure systems and evaluation frameworks and encourage firms to integrate ESG practices with innovation strategies to support sustainable development. As the analysis is observational, the results should be interpreted as associations rather than definitive causal effects.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.9734/ajeba/2026/v26i72337first seen 2026-08-01 06:47:13
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