2936 
1845随着绿色可持续发展理念深入人心，ESG逐渐成为企业管理决策的核心要素，对供给侧结构性改革与劳动力市场健康有序发展产生了深远影响，其能否有效提升劳动投资效率值得深入研究。本文以2011—2021年A股上市公司为研究对象，实证考察了ESG表现对企业劳动投资效率的影响，究竟是“赋能”还是“负能”。研究发现，ESG表现有助于提升企业劳动投资效率，并主要通过缓解融资约束和增强员工创新两条机制予以实现。异质性分析显示，对于非国有企业、审计质量较低、非高新技术企业以及市场竞争地位较低的企业，ESG表现凸显出积极的治理效应，对劳动投资效率的提升效果更为明显。进一步分析发现，ESG表现能够显著抑制劳动投资过度及投资不足，且主要体现为缓解雇佣过度、雇佣不足与解雇过度。本文研究结论对深入推进企业ESG责任履行、优化劳动力资源配置和促进经济高质量发展具有重要意义与政策启示。
赋能还是负能：ESG表现与企业劳动投资效率
摘要
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引用本文
张泽南, 夏玉洁, 张雪梅. 赋能还是负能：ESG表现与企业劳动投资效率[J]. 外国经济与管理, 2024, 46(7): 69-85.
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