School of Management, Xi'an Jiaotong University, Xi'an, China.
Department of Accounting, West Chester University, United States.
J Environ Manage. 2024 Jan 1;349:119529. doi: 10.1016/j.jenvman.2023.119529. Epub 2023 Nov 9.
This study delves into the nexus between corporate ESG commitments-with a spotlight on environmental considerations-and innovation trends in China's corporate sector, leveraging data from Bloomberg's extensive database encompassing over 5102 companies. Our objective was to discern if and how environmental components within the ESG framework serve as precursors to a company's innovative inclinations. Adopting a quantitative methodology, we employed Bayesian Linear Regression and Neural Networks to unearth patterns. Key findings reveal that companies with pronounced environmental commitments within their ESG strategies are not only more innovative but also align more closely with global sustainability benchmarks. Moreover, the role of transparent governance processes in bolstering innovation was evident, highlighting the significance of corporate accountability. The research further underscores the synergy between strategic diversification and innovation, suggesting that an optimal balance in diversification strategies augments a firm's innovative prowess. By integrating traditional accounting insights with cutting-edge data analytics, our study offers a holistic perspective on the environmental and financial ramifications of ESG-driven innovations. This research holds profound implications for academia, industry stakeholders, and policymakers, emphasizing the strategic role of environmental commitments in shaping sustainable and innovative corporate trajectories.
本研究深入探讨了企业 ESG 承诺（重点关注环境因素）与中国企业部门创新趋势之间的关系，利用了彭博社广泛数据库中的数据，涵盖了超过 5102 家公司。我们的目标是确定 ESG 框架中的环境因素是否以及如何成为公司创新倾向的前兆。采用定量方法，我们运用贝叶斯线性回归和神经网络来挖掘模式。主要发现表明，在 ESG 策略中表现出强烈环境承诺的公司不仅更具创新性，而且与全球可持续性基准更为一致。此外，透明的治理流程在促进创新方面的作用显而易见，突出了企业问责制的重要性。研究还强调了战略多元化和创新之间的协同作用，表明多元化策略的最佳平衡可以增强公司的创新实力。通过将传统会计见解与前沿数据分析相结合，我们的研究提供了一个全面的视角，探讨了 ESG 驱动的创新在环境和财务方面的影响。这项研究对学术界、行业利益相关者和政策制定者具有深远的意义，强调了环境承诺在塑造可持续和创新型企业轨迹方面的战略作用。
