Research on the Impact of Manufacturing Enterprises’ ESG Performance on Green Innovation

DOI

10.2991/978-94-6239-758-3_37How to use a DOI?

Keywords

ESG; Green innovation; financing constraints; capital market attention

Abstract

This study aims to explore the impact effect and internal mechanism of ESG performance of manufacturing enterprises on green innovation, and to analyze whether ESG performance can effectively drive the green transformation of manufacturing enterprises under the background of the “carbon neutrality” strategy. Based on the sample of manufacturing listed companies in Shanghai and Shenzhen A-shares from 2013 to 2023, this paper constructs a non-equilibrium panel data model and uses fixed effect regression, two-step mechanism test, instrumental variable method (2SLS), and various robustness test methods to systematically examine the impact of ESG performance on green innovation. The research shows that the ESG performance of manufacturing enterprises has a significant positive promoting effect on green innovation. ESG performance indirectly promotes green innovation through two paths: alleviating financing constraints and enhancing capital market attention. This enriches the theoretical research on the relationship between ESG and green innovation and expands the mechanism analysis framework in the manufacturing context. It provides empirical support for enterprises to formulate differentiated ESG strategies in different situations.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jiajun Xu
PY  - 2026
DA  - 2026/09/08
TI  - Research on the Impact of Manufacturing Enterprises’ ESG Performance on Green Innovation
BT  - Proceedings of the 2026 7th International Conference on Management Science and Engineering Management (ICMSEM 2026)
PB  - Atlantis Press
SP  - 380
EP  - 393
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-758-3_37
DO  - 10.2991/978-94-6239-758-3_37
ID  - Xu2026
ER  -