The value core of ESG is highly consistent with strategic goals such as China’s high-quality development and is of great significance for promoting enterprise growth. Taking intelligent manufacturing enterprises from 2010 to 2022 as the research object, this paper explores the relationship between ESG performance and the growth of intelligent manufacturing enterprises, and further analyzes the influencing mechanism. The results show that good ESG performance can promote the growth of intelligent manufacturing enterprises, and resource acquisition plays a mediating role in this process. The moderating effect of the degree of digitalization between ESG performance and resource acquisition is significantly negative and will weaken the mediating role of resource acquisition. The study also finds that for enterprises that voluntarily disclose corporate information and non-state-owned enterprises, the promoting effect of ESG performance on the growth of intelligent manufacturing enterprises is more obvious. This paper enriches the driving factors for the growth of intelligent manufacturing enterprises, provides a theoretical basis for intelligent manufacturing enterprises to take the initiative to assume environmental and social responsibilities, improve corporate governance structure, and actively acquire various resources, and offers important conclusions and policy implications for promoting the growth of intelligent manufacturing enterprises.
/ Journals / Foreign Economics & ManagementForeign Economics & Management
JIN Yuying, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YinHuifang HeXiaogang LiuJianguo, Vice Editor-in-Chief
The Impact of ESG Performance on the Growth of Intelligent Manufacturing Enterprises: Based on a Moderated Mediation Model
Foreign Economics & Management Vol. 47, Issue 07, pp. 70 - 84 (2025) DOI:10.16538/j.cnki.fem.20241213.101
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Shan Biaoan, Liu Kenan, Xu Yuqiao, et al. The Impact of ESG Performance on the Growth of Intelligent Manufacturing Enterprises: Based on a Moderated Mediation Model[J]. Foreign Economics & Management, 2025, 47(7): 70-84.
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