标题： 数字创新对企业ESG绩效影响的实证分析：GAI技术的中介作用 显示英文标题

标题： Empirical Analysis of Digital Innovations Impact on Corporate ESG Performance: The Mediating Role of GAI Technology

摘要： 本研究探讨了企业数字化创新与环境、社会和治理（ESG）绩效之间的关系，并重点关注生成式人工智能技术采纳的中介作用。我们使用来自CMARS和WIND数据库的2015年至2023年共计8,000个观测值的综合面板数据集，采用多种计量经济学方法来检验这种关系。研究结果显示，数字化创新显著提升了企业的ESG绩效，而生成式人工智能技术的采纳起到了关键的中介机制作用。具体而言，数字化创新正向影响生成式人工智能技术的采纳，进而改善ESG绩效。此外，我们的异质性分析表明，这种关系在企业规模、行业类型和所有权结构方面存在差异。最后，通过工具变量估计、倾向得分匹配和差分差异法处理潜在内生性问题后，我们的结果依然稳健。本研究有助于推动关于技术驱动的可持续转型的文献发展，并为通过技术进步促进可持续商业实践的公司战略和政策制定提供实际指导意义。 显示英文摘要

摘要： This study investigates the relationship between corporate digital innovation and Environmental, Social, and Governance (ESG) performance, with a specific focus on the mediating role of Generative artificial intelligence technology adoption. Using a comprehensive panel dataset of 8,000 observations from the CMARS and WIND database spanning from 2015 to 2023, we employ multiple econometric techniques to examine this relationship. Our findings reveal that digital innovation significantly enhances corporate ESG performance, with GAI technology adoption serving as a crucial mediating mechanism. Specifically, digital innovation positively influences GAI technology adoption, which subsequently improves ESG performance. Furthermore, our heterogeneity analysis indicates that this relationship varies across firm size, industry type, and ownership structure. Finally, our results remain robust after addressing potential endogeneity concerns through instrumental variable estimation, propensity score matching, and differenc in differences approaches. This research contributes to the growing literature on technologydriven sustainability transformations and offers practical implications for corporate strategy and policy development in promoting sustainable business practices through technological advancement.