ESG Performance, New Quality Productivity, and Corporate Green Innovation Efficiency

Authors

  • Zehao Zhang Zhujiang College, South China Agricultural University

DOI:

https://doi.org/10.23925/2179-3565.2026v17i1p151-170

Keywords:

ESG performance, Corporate green innovation efficiency, New quality productivity, System GMM Model

Abstract

This study integrates ESG performance, new quality productivity, and enterprise green innovation efficiency into a cohesive framework, with the objective of examining the impact and mechanisms through which ESG performance influences enterprise green innovation efficiency. This study empirically investigates the relationship between ESG performance, new quality productivity, and the green innovation efficiency of A-share listed enterprises on the Shanghai and Shenzhen stock exchanges from 2013 to 2023. The analysis employs the system GMM model alongside the mechanism effect model. The research findings indicate that ESG performance can significantly improve the efficiency of green innovation within enterprises, a conclusion that remains valid following extensive robustness tests. Mechanism analysis demonstrates that ESG performance enhances the green innovation efficiency of enterprises by fostering the development of new quality productivity. Furthermore, heterogeneity analysis reveals that ESG performance exerts a more pronounced effect on the green innovation efficiency of enterprises located in the eastern region, as well as among non-state-owned enterprises, small enterprises, high-tech enterprises, and those operating in competitive industries. In light of this, it is proposed that innovative measures be adopted, including the enhancement of enterprises' ESG performance capabilities, the improvement of their mechanisms for developing new quality productivity, and the implementation of a "differentiated" green development strategy. These initiatives aim to comprehensively enhance the green innovation efficiency of enterprises.

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Published

2026-04-30

Issue

Vol. 17 No. 1 (2026): Journal on Innovation and Sustainability

Section

Papers

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