绿色税收优惠对企业ESG表现的影响

——来自A股上市公司的经验证据

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中图分类号：X322；F832.51;F812.42 文献标识码：A文章编号：1007-5097（2026）01-0107-11

Abstract：Practicing ESG principles isanimportantpathway forcorporate sustainable development.Green tax incentives playacrucialroleinenhancing corporateESG performance.This studyuses A-sharelistedcompanies from 29 to 2023 asresearch samples to empirically examinetheimpactof green tax incentives oncorporate ESG performance and explore their underlying mechanisms.The study findings areas follows.Greentax incentives significantlyimprove corporate ESG performance.Mediationmechanismanalysisshows thattheallviationoffinancing constraints isthechannelthrough whichgreentaxincentives afectcorporateESG performance.Synergistic efectanalysisshows thatgreentaxincentives andgovernment green subsidies can generate synergistic effcts thatamplifythe policy effctiveness of enhancing corporateESG performance.Heterogeneityanalysis reveals that thepromotional efectof green taxincentivesoncorporate ESG performance is more significant among companies intheir growth stage，smaller inscale，with weaker auditoversight， andlocated inregions with stronger environmentalregulation intensity.Theresearch conclusion hasimportant implications for how to improve corporate ESG performance.

Key words：government greensubsidies；synergistic efect;financing constraints；audit oversight;environmental regulation

一、引言及文献综述

企业ESG（Environmental，Social and Gover-nance，缩写为ESG）表现不仅关乎环境、社会与治理效能，更是评估其可持续发展能力与长期投资价值的关键依据。（剩余18306字）