The Impact of Corporate Science on ESG Performance: A New Approach
研究了中国上市公司在同行评审期刊上发表科学论文对ESG绩效的影响，发现论文数量和质量均与ESG绩效正相关，英文期刊效果更强，并通过绿色创新、声誉、人力资本和诚信文化四条路径发挥作用。
ABSTRACT Despite the considerable costs and risks associated with corporate science, an increasing number of Chinese listed firms are disclosing their research in peer‐reviewed journals. This study pioneers an investigation into the effect of corporate science on environmental, social, and governance (ESG). Leveraging novel hand‐collected publication records from Chinese‐ and English‐language journals (2007–2021), we provide the first large‐scale evidence linking corporate science to ESG outcomes. Our findings reveal that both the quantity and quality of corporate science are positively associated with superior ESG performance, with English‐language publications exhibiting a stronger effect than their Chinese‐language counterparts. Mechanism analysis identifies four pathways through which corporate science promotes ESG performance: enhancing green innovation, improving corporate reputation, strengthening human capital, and fostering a culture of integrity. Furthermore, we show that the strength of a firm's patent portfolio amplifies these positive effects. Overall, our results underscore the strategic value of corporate science in advancing firms' sustainable development goals.