供应商数字化对客户企业ESG表现的影响研究OACHSSCD

By analyzing the pairing data of A-share suppliers and their top five listed client enterprises from 2012 to 2024,this study examined how the digitalization of suppliers can enhance the ESG performance of the client enterprises.The empirical results showed that supplier digitization can significantly enhance the ESG performance of the client enterprises,and the conclusion has passed the tests of robustness and endogeneity.The mechanism analysis indicated that this effect was achieved by alleviating the financing constraints of the client enterprises.Further analysis discovered that the duration of the relationship and the ownership of short-term institution positively moderated the positive impact of supplier digitalization on the ESG performance of the client enterprise.The heterogeneity analysis revealed that the digitalization of suppliers has a greater posi-tive impact on the ESG performance of non-heavy-polluting and less competitive customer enterprises.It is pro-posed that enterprises should consider the digitalization level of suppliers as an important criterion for selecting and evaluating their supply chains,and at the same time,enhance the supervisory role of short-term institution-al investors.