有绿色经历的连锁董事对企业ESG表现的影响OA

Based on the data of China's A-share listed companies from 2009 to 2022,this study adopts a two-way fixed effects model and the difference-in-differences method to empirically examine the impact of interlocking directors with green experience on corporate ESG performance and its mechanism of action.The findings indicate that interlocking directors with green experience can significantly promote the improvement of corporate Environmental,Social and Governance(ESG)performance.Furthermore,after the promulgation of Enviromental Protection Law of the People's Republic of China,compared with enterprises without interlocking directors with green experience,the impact of interlocking directors with green experience on corporate ESG performance is significantly enhanced.From the perspective of the impact mechanism,financing constraints and corporate total factor productivity play a moderating role in the degree to which interlocking directors'green experience affects corporate ESG performance.Heterogeneity analysis reveals that the promoting effect of interlocking directors'green experience on corporate ESG performance is more prominent in enterprises located in eastern China and those with a history of environmental penalties.Enterprises should actively introduce interlocking directors with green experience,thereby leveraging their resource effect to effectively boost the improvement of corporate ESG performance.