The Impact of High-Tech Policies on Corporate ESG Performance: Evidence from China

In light of resource and environmental constraints, the economic growth model is undergoing significant transformations. New quality productivity is the latest high-tech policy in China’s current development. Comprehensively improving the new quality productivity level of enterprises is the core driving force behind promoting productivity progress and sustainable development. The objective of this study was to employ machine learning techniques to comprehensively assess the level of new quality productivity exhibited by enterprises and to identify the spatiotemporal evolution characteristics thereof. Additionally, the study sought to investigate the impact and the specific mechanism of new quality productivity on the ESG performance of enterprises from a micro perspective. The study revealed that new quality productivity has a considerable impact on the ESG performance of enterprises, particularly in cases where the enterprise has a long history and is engaged in significant pollution. The underlying mechanism is that new quality productivity can enhance an enterprise’s ESG performance by alleviating financing constraints and improving the efficiency of employee innovation. Additionally, further research indicated that new quality productivity primarily influences the environmental and social ratings of enterprises.