A study of the impact of coupled and coordinated development of ESG and common prosperity within a firm on the firm innovation

doi:10.19571/j.cnki.1000-2995.2024.08.019

Abstract

Abstract: There is an interactive relationship between ESG and common prosperity within a firm, and the coupled and coordinated development of the two has an important impact on the firm innovation. In this paper, based on the theoretical analysis of the coupled and coordinated development of ESG and common prosperity within a firm to promote the firm innovation, and based on the data of A-share listed firms in Shanghai and Shenzhen from 2011 to 2021, we used the entropy weight method and coupled and coordinated evaluation model to measure and evaluate the coupled and coordinated development of ESG and common prosperity within a firm, and further used the zero-inflated Poisson regression model to investigate the effect and mechanism of the coupled and coordinated development of ESG and common prosperity within a firm on the firm innovation. The results showed that: first, the level of coupled and coordinated development of ESG and common prosperity within a firm in most firms is on the verge of being out of tune, and the spatial distribution pattern changes from "low in the middle and high around" to a low level of "equilibrium" distribution over time. Second, the coupled and coordinated development of ESG and common prosperity within a firm has a driving effect on the firm innovation. Third, the firm reputation and government subsidies play a mediating role between the coupled and coordinated development of ESG and the common prosperity within a firm and the firm innovation. Fourth, digital transformation has a positive moderating effect in the process of the firm innovation driven by the coupled and coordinated development of ESG and the common prosperity within a firm. Fifth, non-SOEs and non-heavily-polluting firms have a more significant effect of the coupled and coordinated development of ESG and common prosperity within a firm on driving the firm innovation. This paper has expanded the research on ESG, common prosperity within a firm and the firm innovation, and will provide a decision-making reference for promoting the firm innovation through the coupled and coordinated development of ESG and common prosperity within a firm.

Key words: environmental, social and governance (ESG), common prosperity within a firm, coupled and coordinated development, firm innovation

Sun Hui, Zhu Shusen, Tang Jing, Zhang Beibei. A study of the impact of coupled and coordinated development of ESG and common prosperity within a firm on the firm innovation[J]. Science Research Management, 2024, 45(8): 182-192.

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A study of the impact of coupled and coordinated development of ESG and common prosperity within a firm on the firm innovation

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