高管绿色认知对ESG评级分歧的影响研究

摘要/Abstract

摘要： 在新发展阶段,推动绿色经济转型与实现可持续发展紧密契合我国"双碳"目标。已有学者研究了ESG评级分歧的影响因素,但鲜有研究从管理层特性角度探究其对企业ESG评级分歧的作用。基于此,文章以2018—2022年我国沪深A股上市公司为样本,探究高管绿色认知是否会影响ESG评级分歧。研究发现,高管绿色认知显著降低了ESG评级分歧。机制分析表明,高管绿色认知通过公开途径和非公开途径提高信息透明度,有效减少信息不对称,进而减少了ESG评级分歧。进一步分析发现,在非国有企业、非重污染企业和大型企业样本中,高管绿色认知缩小ESG评级分歧的效果更显著。研究丰富了高管绿色认知和ESG评级分歧的相关文献,为ESG评级的规范发展提供了新的路径指引和理论支撑。

关键词: 高管绿色认知, ESG评级分歧, 信息不对称程度

Abstract: In the new development stage, promoting the green economic transformation and achieving sustainable development are closely aligned with China’s "dual carbon" objectives. Although some scholars have studied influencing factors of ESG rating disagreement, few have explored the role of management characteristics in this context. Based on this, the study takes the A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2018 to 2022 as samples to explore whether the green cognition of senior executives will affect the ESG rating disagreement. The findings reveal that the green awareness of senior executives significantly reduces ESG rating disagreement. Mechanism analysis indicates that senior executives’ green cognition enhances information transparency through both public and non-public channels, effectively reducing information asymmetry and thereby lowering ESG rating disagreement. Further analysis reveals that in the samples of non-state-owned enterprises, non-heavy-polluting enterprises and large enterprises, the effect of executives’ green cognition in narrowing the ESG rating disagreement is more significant. This article enriches the literature on senior executives’ green cognition and ESG rating disagreement, providing new path guidance and theoretical support for the standardized development of ESG ratings.

Key words: executive green cognition, ESG rating disagreement, information asymmetry

中图分类号:

F272

董延安, 展嘉宜, 彭影. 高管绿色认知对ESG评级分歧的影响研究[J]. 贵州财经大学学报, 2025(03): 101-110.

DONG Yan'an, ZHAN Jiayi, PENG Ying. Research on the Impact of Managers’ Green Cognition on ESG Rating Disagreement[J]. Journal of Guizhou University of Finance and Economics, 2025(03): 101-110.

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