ESG表现与企业供应链融资

——基于商业信用视角

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中图分类号：F275.5；F832.5 文献标识码：A doi：10.3969/j.issn.1672-2272.202505093

Abstract：Supply chain financing is one of the important channels for enterprises to obtain funds，and good environmental，social and governance（ESG）performance is highly consistent with the trend of gren transformation of the supply chain. This paper takes A-share listed companies in the Shanghai and Shenzhen stock markets from 2Ol0 to 2022 as the research sample，and through empirical analysis，explores the impact of enterprise ESG performance on supply chain financing，and further examines the moderating role of audit opinions in this relationship.The research shows that the ESG performance of enterprises can efectively enhance information transparency and reduce business risks， thereby expanding the scale of supply chain financing； however，non-standard audit opinions will weakenthe positive promoting effect of ESG performance on supply chain financing.Further research findings indicate that in state-owned enterprises，enterprises with competitive disadvantages in the market， and non-polluting enterprises，the promoting efect of ESG performance on enterprise supply chain financing is more significant.This study not only enriches the relevant theories of the influencing factors of supply chain financing，but also provides important practical references for enterprises to optimize financing strategies and promote the green development of the supply chain.

KeyWords：ESGPerformance；Supply Chain Financing；Trade Credit;Audit Opinion

0 引言

习近平总书记在二十届中央政治局第十一次集体学习时指出：“绿色发展是高质量发展的底色，新质生产力本身就是绿色生产力。（剩余13733字）