党的二十大将高质量发展确立为全面建设社会主义现代化国家的首要任务，我国当前正处于高质量发展关键时期，企业作为经济增长的主要动力源，其高质量发展对于推动经济高质量发展具有重要意义。高质量发展强调经济要实现“质的有效提升和量的合理增长”，“质的有效提升”要求企业在技术创新、产品质量等方面实现突破，“量的合理增长”要求企业在保持合理增速的同时，注重可持续发展。ESG倡导企业积极承担环境、社会和公司治理责任，实现经济价值、环境价值和社会价值的协同发展，这与高质量发展内涵相契合，对于引导企业高质量发展具有重要作用。但由于ESG在我国起步较晚，其能否促进企业高质量发展，实现经济与环境的双重效益有待进一步探索。

本文以ESG责任承担为切入点，以2017-2022年沪深A股上市公司数据，探究ESG责任承担对企业高质量发展的影响效应及其作用路径，并结合不同情境具体分析。研究发现：（1）ESG责任承担有助于促进企业高质量发展，且该结果通过稳健性检验；（2）绿色创新、非效率投资在ESG责任承担与企业高质量发展之间发挥中介效应；（3）企业家精神、媒体关注正向调节ESG责任承担与企业高质量发展的关系；（4）国企的ESG责任承担对企业高质量发展的促进作用较非国有企业更为明显；重污染企业的ESG责任承担对其高质量发展的促进作用较非重污染企业更为明显；处于成长期和衰退期的企业，其ESG责任承担对高质量发展的促进作用较成熟期企业更为明显；处于较低市场化水平地区的企业，其ESG责任承担对高质量发展的促进作用更为显著。

根据本文结论，提出如下建议：持续推动企业承担ESG责任，推进ESG全面发展；培育企业家精神，充分发挥企业内部能动性；规范媒体行业，充分发挥媒体关注的外部治理效能；结合企业生命周期发展规律，动态调整ESG责任承担重点；密切关注市场环境变化，针对性制定ESG发展战略。

The 20th Party Congress established high-quality development as the primary task of comprehensively building a socialist modernized country, and China is now in a critical period of high-quality development, and the high-quality development of enterprises, as the main power source of economic growth, is of great significance in promoting high-quality development of the economy. High-quality development emphasizes that the economy should achieve "effective improvement in quality and reasonable growth in quantity", "effective improvement in quality" requires enterprises to achieve breakthroughs in technological innovation, product quality, etc., and "reasonable growth in quantity" requires enterprises to maintain reasonable growth in quality. "ESG advocates that enterprises actively undertake environmental, social and corporate governance responsibilities, and realize the synergistic development of economic, environmental and social values, which is in line with the connotation of high-quality development and plays an important role in guiding the high-quality development of enterprises. However, since ESG started late in China, whether it can promote the high-quality development of enterprises and realize the double benefits of economy and environment needs to be further explored.

This paper takes ESG responsibility taking as an entry point, and uses the data of A-share listed companies from 2017 to 2022 to explore the effect of ESG responsibility taking on the high-quality development of enterprises and its role path, and analyzes it specifically in combination with different contexts. The study finds that (1) ESG responsibility taking helps to promote high-quality development of enterprises, and this result passes the robustness test; (2) green innovation and inefficient investment play a mediating effect between ESG responsibility taking and high-quality development of enterprises; (3) entrepreneurship and media attention positively regulate the relationship between ESG responsibility taking and high-quality development of enterprises; (4) ESG responsibility taking of SOEs has a more positive effect on the (4) the ESG responsibility of SOEs has a more obvious promotion effect on the high-quality development of enterprises than that of non-SOEs; the ESG responsibility of heavily polluted enterprises has a more obvious promotion effect on their high-quality development than that of non-heavily polluted enterprises; the ESG responsibility of enterprises in the growing and declining periods has a more obvious promotion effect on their high-quality development than that of mature enterprises; and the ESG responsibility of enterprises in regions with lower levels of marketization has a more significant promotion effect on their high-quality development than that of non-heavily polluted enterprises. The ESG responsibility of enterprises in regions with a lower level of marketization has a more significant role in promoting high-quality development.

Based on the conclusions of this paper, the following suggestions are put forward: continue to promote ESG responsibility of enterprises and promote the comprehensive development of ESG; cultivate entrepreneurship and give full play to the internal mobility of enterprises; regulate the media industry and give full play to the effectiveness of external governance of media attention; dynamically adjust the focus of ESG responsibility in combination with the development law of the enterprise's life cycle; pay close attention to the changes in the market environment, and formulate ESG development strategies in a targeted manner. The key word: ESG responsibility.

[1] 黄世忠.ESG理念与公司报告重构[J].财会月刊,2021,No.909(17):3-10.

[2] 操群,许骞.金融“环境、社会和治理”(ESG)体系构建研究[J].金融监管研究,2019(04):95-111.

[3] 邱牧远,殷红.生态文明建设背景下企业ESG表现与融资成本[J].数量经济技术经济研究,2019,36(03):108-123.

[4] 李井林,阳镇,陈劲,崔文清.ESG促进企业绩效的机制研究——基于企业创新的视角[J].科学学与科学技术管理,2021,42(09):71-89.

[5] 王琳璘,廉永辉,董捷.ESG表现对企业价值的影响机制研究[J].证券市场导报,2022(05):23-34.

[6] 王波,杨茂佳.ESG表现对企业价值的影响机制研究——来自我国A股上市公司的经验证据[J].软科学,2022,36(06):78-84.

[7] 袁蓉丽,江纳,刘梦瑶.ESG研究综述与展望[J].财会月刊,2022,(17):128-134.

[8] 金碚.关于“高质量发展”的经济学研究[J].中国工业经济,2018,361(04):5-18.

[9] 国家发展改革委经济研究所课题组.推动经济高质量发展研究[J].宏观经济 研究,2019,243(02):5-17+91.

[10] 赵剑波,史丹,邓洲.高质量发展的内涵研究[J].经济与管理研究,2019,40(11):15-31.

[11] 王一鸣.百年大变局、高质量发展与构建新发展格局[J].管理世界,2020,36(12):1-13.

[12] 黄速建,肖红军,王欣.论国有企业高质量发展[J].中国工业经济,2018,(10):19-41.

[13] 李巧华.新时代制造业企业高质量发展的动力机制与实现路径[J].财经科学,2 019,63(06):57-69.

[14] 戴国宝,王雅秋.民营中小微企业高质量发展:内涵、困境与路径[J].经济问题, 2019,480(08):54-61.

[15] 王瑶,黄贤环.企业高质量发展的指标体系构建与实现路径[J].统计与决策,2021,37(12):182-184.

[16] 朱冠平,黄志媛.商业信用融资对我国企业高质量发展的影响[J].企业经济,2022,41(09):27-38.

[17] Hojnik J,Ruzzier M. The driving forces of process eco-innovation and its impact on performance: Insights from Slovenia[J]. Journal of Cleaner Production,2016,133.

[18] Barbieri N,Marzucchi A,Rizzo U. Knowledge sources and impacts on subsequent inventions: Do green technologies differ from non-green ones?[J]. Research Policy,2020,49(2).

[19] 王彩明,李健.中国区域绿色创新绩效评价及其时空差异分析——基于2005-2015年的省际工业企业面板数据[J].科研管理,2019,40(06):29-42.

[20] 于飞,胡泽民,袁胜军.打开制度压力与企业绿色创新之间的黑箱——知识耦合的中介作用[J].预测,2020,39(02):1-9

[21] 李小平,李小克.企业家精神与地区出口比较优势[J].经济管理,2017,39(09):66-81.

[22] 韩文龙.“技术进步——制度创新——企业家精神”的创新组合及其增长效应[J].社会科学辑刊,2019,(03):202-212.

[23] 许秀梅,朱娜,杨焕玲.企业家精神、高管技术专长与企业技术资本投资[J].统计与决策,2022,38(23):159-164.

[24] 周荣华,李斯林,余红心.数字普惠金融对企业全要素生产率的影响研究——基于企业家精神的视角[J].新金融,2023,(03):43-49.

[25] 李琦,刘力钢,邵剑兵.数字化转型、供应链集成与企业绩效——企业家精神的调节效应[J].经济管理,2021,43(10):5-23.

[26] 周方召,潘婉颖,付辉.上市公司ESG责任表现与机构投资者持股偏好——来自中国A股上市公司的经验证据[J].科学决策,2020,No.280(11):15-41.

[27] Baraibar-Diez E,Odriozola D M. CSR Committees and Their Effect on ESG Performance in UK, France, Germany, and Spain[J]. Sustainability,2019,11(18).

[28] Harjoto A M,Wang Y. Board of directors network centrality and environmental, social and governance (ESG) performance[J]. Corporate Governance,2020,ahead-of-print(ahead-of-print).

[29] Garcia S A,Mendes-Da-Silva W,Orsato J R. Sensitive industries produce better ESG performance: Evidence from emerging markets[J]. Journal of Cleaner Production,2017,150.

[30] 崔也光,王守杰,王肇.企业参与碳交易能够提升ESG表现吗？——基于数字化转型的调节效应分析[J].财务研究,2023(05):57-68.

[31] 周泽将,雷玲.营商环境优化与企业ESG表现[J].厦门大学学报(哲学社会科学版),2023,73(05):43-56.

[32] 孙冬,杨硕,赵雨萱,袁家海.ESG表现、财务状况与系统性风险相关性研究——以沪深A股电力上市公司为例[J].中国环境管理,2019,11(02):37-43.

[33] 柳学信,曹成梓,孔晓旭.董事会非正式层级对企业ESG表现的影响——来自我国上市公司的经验证据[J].中国流通经济,2024,38(03):104-114.

[34] 孙明睿,马融,马文杰.金融科技与企业ESG表现[J/OL].财经研究:1-17[2024-05-24].

[35] Sassen R,Hinze A,Hardeck I. Impact of ESG factors on firm risk in Europe[J]. Journal of Business Economics,2016,86(8).

[36] Ghoul E S,Guedhami O,Kim Y. Country-level institutions, firm value, and the role of corporate social responsibility initiatives[J]. Journal of International Business Studies,2017,48(3).

[37] Aboud A,Diab A. The impact of social, environmental and corporate governance disclosures on firm value[J]. Journal of Accounting in Emerging Economies,2018,8(4).

[38] MikołajekGocejna M .The Relationship Between ESG Rating and Firm Value—Evidence from Companies Listed on Polish Capital Market in the WIG-ESG Index[J].Central European Economic Journal,2024,11(58):141-158.

[39] Atan Ruhaya,Alam Md. Mahmudul,Said Jamaliah,Zamri Mohamed. The impacts of environmental, social, and governance factors on firm performance:Panel study of Malaysian companies[J]. Management of Environmental Quality: An International Journal,2018,29(2).

[40] 张琳,赵海涛.企业环境、社会和公司治理(ESG)表现影响企业价值吗？——基于A股上市公司的实证研究[J].武汉金融,2019(10):36-43.

[41] 吴勋,杨美漪.ESG责任履行能够强化企业价值创造吗？——基于数字化转型的门槛效应[J/OL].科学学与科学技术管理:1-25.

[42] Sen S , Bhattacharya C B , Korschun D .The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment[J].Journal of the Academy of Marketing Science, 2006, 34(2):158-166.

[43] Zhang Q ,Loh L ,Wu W .How do Environmental, Social and Governance Initiatives Affect Innovative Performance for Corporate Sustainability?[J].Sustainability,2020,12(8):3380-3380.

[44] Chouaibi S ,Chouaibi J ,Rossi M .ESG and corporate financial performance: the mediating role of green innovation: UK common law versus Germany civil law[J].EuroMed Journal of Business,2021,17(1):46-71.

[45] Cohen, L., Gurun, U. G., Nguyen, Q. H.. The ESG-innovation Disconnect: Evidence from Green Patenting. National Bureau of Economic Research, 2020.

[46] 王治,彭百川.企业ESG表现对创新绩效的影响[J].统计与决策,2022,38(24):164-168.

[47] 方先明,胡丁.企业ESG表现与创新——来自A股上市公司的证据[J].经济研究,2023,58(02):91-106.

[48] 罗元大,熊国保.企业环境责任、儒家文化与技术创新——来自我国污染类上市企业的面板数据实证研究[J].生态经济,2022,38(04):154-162.

[49] 顾群,王文文,郑杨.企业社会责任会影响创新吗?——基于研发异质性与产权性质视角[J].贵州财经大学学报,2019,No.203(06):66-75.

[50] 汤莉,余银芳.CEO学术经历与企业双元创新[J].华东经济管理,2021,35(10):59-69.

[51] 李云鹤,吴文锋,胡悦.双层股权与企业创新：科技董事的协同治理功能[J].中国工业经济,2022(05):159-176.

[52] Tan Y , Zhu Z .The effect of ESG rating events on corporate green innovation in China: The mediating role of financial constraints and managers' environmental awareness[J].Technology in Society, 2022, 68.

[53] 孟猛猛,谈湘雨,刘思蕊等.企业ESG表现对绿色创新的影响研究[J].技术经济,2023,42(07):13-24.

[54] 李井林,阳镇,陈劲.ESG表现如何赋能企业绿色技术创新?——来自中国上市公司的微观证据[J/OL].管理工程学报,1-17.

[55] 赵沁娜,李航.ESG评级是否促进了企业绿色技术创新——来自中国上市公司的微观证据[J].南方经济,2024(02):116-135.

[56] Liu, H.; Lyu, C. Can ESG Ratings Stimulate Corporate Green Innovation? Evidence from China. Sustainability 2022, 14, 12516.

[57] 高杰英,褚冬晓,廉永辉,郑君.ESG表现能改善企业投资效率吗？[J].证券市场导报,2021(11):24-34+72.

[58] 王蓉.企业ESG表现与非效率投资水平研究[J].企业经济,2022,41(06):89-100.

[59] Broadstock C D,Chan K,Cheng T L, et al. The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China[J]. Finance Research Letters,2020,38(prepublish).

[60] Savva S,Binam G. When ESG meets AAA: The effect of ESG rating changes on stock returns[J]. Finance Research Letters,2022,46(PA).

[61] 马喜立.ESG类股票投资价值分析——基于中国A股上市公司的实证研究[J].中国市场,2019(32):1-5.

[62] 帅正华.中国上市公司ESG表现与资本市场稳定[J].南方金融,2022(10):47-62.

[63] 孙慧,祝树森,张贤峰.ESG表现、公司透明度与企业声誉[J/OL].软科学:1-10[2023-03-13].

[64] 杨有德,徐光华,沈弋.“由外及内”:企业ESG表现风险抵御效应的动态演进逻辑[J].会计研究,2023(02):12-26.

[65] 陈芳,张蓓蓓.ESG责任履行对企业风险的影响研究[J].南京审计大学学报,2024,21(02):58-67.

[66] 吕康娟,潘敏杰,朱四伟.环保约谈制度促进了企业高质量发展吗?[J].中南财经政法大学学报,2022(01):135-146+160.

[67] 闫永生,李凌飞,刘慧侠.资本市场开放与企业高质量发展——基于经济效率和可持续发展视角的检验[J].南京审计大学学报,2023,20(05):81-90.

[68] 伍中信,黄滢滢,伍会之.专精特新政策会促进中小企业高质量发展吗？——来自全要素生产率的证据[J].中南大学学报(社会科学版),2023,29(03):129-140.

[69] 詹新宇,刘琳琳,王一欢.地方政府债务扩张与企业高质量发展[J].宏观质量研 究,2021,9(05):52-67.

[70] 杨林,沈春蕾.减税降费赋能中小企业高质量发展了吗? ——基于中小板和 创业板上市公司的实证研究[J].经济体制改革,2021,227(02):194-200.

[71] 段姝,刘霞,殷蓉等.减税降费赋能企业高质量发展了吗？[J].经济问题,2022,5 09(01):20-30.

[72] 陈海宇,杜丽,张晓颖.减税降费、融资纾困与企业高质量发展[J].国际税收,2023(09):40-52.

[73] 黄纪强.环境保护税可以促进企业高质量发展吗？——来自环境保护费改税的准实验证据[J].财政科学,2023(08):27-41.

[74] 陈丽姗,傅元海.融资约束条件下技术创新影响企业高质量发展的动态特征[J].中国软科学,2019(12):108-128.

[75] 张少峰,徐梦苏,朱悦等.技术创新、组织韧性与制造企业高质量发展[J].科技进步与对策,2023,40(13):81-92.

[76] 盛明泉,吴少敏,张娅楠.探索式创新与企业全要素生产率[J].产业经济研究,2020(01):28-41.

[77] 李元旭,曾铖.政府规模、技术创新与高质量发展——基于企业家精神的中介作用研究[J].复旦学报：社会科学版, 2019(3):12.

[78] 武永霞,王虹雨.数字化转型对企业高质量发展的影响研究——来自深A股上市公司的经验证据[J].现代管理科学,2023(02):105-113.

[79] 王羲,陈雪姣,曹晶等.数字化转型对企业高质量发展的影响——企业创新与风险承担视角[J/OL].科技进步与对策:1-10[2024-02-27].

[80] 梁小甜,文宗瑜.制造业数字化转型、客户信息优势与高质量发展[J].统计与决策,2023,39(07):179-183.

[81] 武常岐,张昆贤,周欣雨等.数字化转型、竞争战略选择与企业高质量发展——基于机器学习与文本分析的证据[J].经济管理,2022,44(04):5-22.

[82] 王晓红,李娜,陈宇.冗余资源调节、数字化转型与企业高质量发展[J].山西财经大学学报,2022,44(08):72-84.

[83] 王治,谭欢.董事会断裂带对企业高质量发展的影响研究[J].中国软科学,2023(05):134-146.

[84] 张曾莲,徐方圆.董事高管责任保险与企业高质量发展——基于代理成本和创新激励视角[J].华东经济管理,2021,35(02):78-86.

[85] 陈艳利,戚乃媛.非国有股东治理与国有企业高质量发展——基于资本配置的视角[J].经济与管理研究,2023,44(05):124-144.

[86] Ge G ,Xiang X ,Zhenzhu L , et al. Does ESG Performance Promote High-Quality Development of Enterprises in China? The Mediating Role of Innovation Input[J]. Sustainability,2022,14(7):3843-3843.

[87] Jiangming M ,Di G ,Jing S .Does ESG performance promote total factor productivity? Evidence from China#13;[J].Frontiers in Ecology and Evolution,2022,

[88] Yu, P., Zuo, . & Lian, D. Fostering High-Quality Corporate Development through ESG-Driven Technological Innovation: A Moderated Mediation Analysis.[J] Knowl Econ(2024).

[89] Tan X , Liu G , Cheng S .(104559)How does ESG performance affect green transformation of resource-based enterprises: Evidence from Chinese listed enterprises[J].Resources policy, 2024:89.

[90] Niu D , Wang Z .Can ESG ratings promote green total factor productivity? Empirical evidence from Chinese listed companies[J].Heliyon, 2024, 10(7).

[91] 寿柯炎,吴雷,曾雨琦.ESG评级会推动制造业企业高质量发展吗——基于多期双重差分模型的证据[J].金融与经济,2023(12):33-43.

[92] 韩一鸣,胡洁,于宪荣.企业加强ESG实践能否助力企业高质量发展？——来自中国上市公司的证据[J/OL].产业经济评论:1-22

[93] 王琳,方园,汪长英.ES G表现对企业高质量发展的影响研究[J].会计之友,2023(13):74-81.

[94] 吴利霞.ESG表现、双元创新与企业高质量发展[J].财会通讯,2023(20):33-39.

[95] 王三兴,王子明.企业ESG表现、创新与全要素生产率[J].宏观经济研究,2023(11):62-74.

[96] 李甜甜,李金甜.绿色治理如何赋能高质量发展：基于ESG履责和全要素生产率关系的解释[J].会计研究,2023,(06):78-98.

[97] 杨晋华,郝晓雁.企业ESG表现与全要素生产率提升——基于财务柔性与媒体监督的调节作用[J].会计之友,2023(19):129-137.

[98] 符加林,黄晓红.企业ESG表现如何影响企业全要素生产率?[J].经济经纬,2023,40(03):108-117.

[99] 杨建春,朱桂芳,王站杰.ESG表现对企业全要素生产率的影响[J].财会月刊,2023,44(19):31-37.

[100] 周莹.ESG表现对流通企业绿色技术创新的影响机制研究[J].商业经济研究,2023,(23):164-167.

[101] 齐绍洲,林屾,崔静波.环境权益交易市场能否诱发绿色创新?——基于我国上市公司绿色专利数据的证据[J].经济研究,2018,53(12):129-143.

[102] 王芳.企业ESG表现与低碳绿色转型——基于金融政策工具支持的效应评估[J].当代财经,2024,(01):152-164.

[103] 李井林,阳镇,易俊玲.ESG表现有助于降低企业债务融资成本吗？——来自上市公司的微观证据[J].企业经济,2023,42(02):89-99.

[104] 赵军,李艳姗,朱为利.数字金融、绿色创新与城市高质量发展[J].南方金融,2021,(10):22-36.

[105] 姬新龙,董木兰.绿色技术创新、股权结构与重污染企业全要素生产率[J].统计与决策,2023,39(21):164-168.

[106] 姜浩,吾买尔江·艾山,邓峰.高管团队薪酬差距、投资效率与企业全要素生产率[J].技术经济与管理研究,2023(06):49-54.

[107] 高志刚,李明蕊,韩延玲.企业家精神对经济高质量发展的影响研究——兼论数字普惠金融的调节作用[J].管理学刊,2023,36(02):25-43.

[108] 陈欢,庄尚文,殷晶晶.市场化改革、企业家精神与经济高质量发展[J].统计与决策,2022,38(07):166-170.

[109] 贺云龙,肖铭玥.政治关联、媒体报道与企业社会责任信息披露——来自沪深A股数据的实证分析[J].哈尔滨商业大学学报(社会科学版),2020,(02):93-102.

[110] Cahan S F, Chen C, Chen L, Nguyen N H. Corporate social responsibility and media coverage [J].Journal of Banking &Finance,2015,59:409-422

[111] 沈洪涛,冯杰.舆论监督、政府监管与企业环境信息披露[J].会计研究,2012,(02):72-78+97.

[112] 陈昭,刘映曼.政府补贴、企业创新与制造业企业高质量发展[J].改革,2019,(08):140-151.

[113] 伍中信,魏佳佳.环境信息披露对企业高质量发展的影响[J].财会月刊,2022,(08):7-15.

[114] 黄勃,李海彤,刘俊岐,等.数字技术创新与中国企业高质量发展——来自企业数字专利的证据[J].经济研究,2023,58(03):97-115.

[115] 王丹,张丁.ESG表现、制造业高质量发展与数字化转型[J].统计与决策,2023,39(19):172-176.

[116] 鲁晓东,连玉君.中国工业企业全要素生产率估计:1999—2007[J].经济学(季刊),2012,11(02):541-558.

[117] 曹洪军,陈泽文.内外环境对企业绿色创新战略的驱动效应——高管环保意识的调节作用[J].南开管理评论,2017,20(06):95-103.

[118] 肖红军,阳镇,凌鸿程.企业社会责任具有绿色创新效应吗[J].经济学动态,2022,(08):117-132.

[119] 李青原,肖泽华.异质性环境规制工具与企业绿色创新激励——来自上市企业绿色专利的证据[J].经济研究,2020,55(09):192-208.

[120] Richardson S..Over-investment of Free Cash Flow[J].Review of Accounting Studies,2006,11(2):159-189

[121] 刘亦文,陈熙钧,高京淋等.媒体关注与重污染企业绿色技术创新[J].中国软科学,2023,(09):30-40.

[122] 温忠麟,叶宝娟.中介效应分析:方法和模型发展[J].心理科学进展,2014,22(05):731-745.

[123] 方杰,温忠麟,梁东梅等.基于多元回归的调节效应分析[J].心理科学,2015,38(03):715-720.

[124] 周泽将,雷玲,伞子瑶.营商环境与企业高质量发展——基于公司治理视角的机制分析[J].财政研究,2022,(05):111-129.

[125] 谢红军,吕雪.负责任的国际投资：ESG与中国OFDI[J].经济研究,2022,57(03):83-99.

[126] 郭晔,苏彩珍,张一.社会责任信息披露提高企业的市场表现了么?[J].系统工程理论与实践,2019,39(04):881-892.

[127] 李文贵,余明桂.所有权性质、市场化进程与企业风险承担[J].中国工业经济,2012,(12):115-127.