绿色化转型能否推动企业人力资本升级?

How does Green Transformation Promote the Upgrading of Corporate Human Capital?

摘要:

人力资本升级是实现企业高质量发展的重要保障,也是经济全面绿色转型时期的现实要求。本文基于2010—2022年中国A股上市公司年报,采用文本分析法计算企业绿色化转型指数,并结合员工技能结构数据,研究绿色化转型对企业人力资本升级的影响及其作用渠道。研究发现：绿色化转型对企业人力资本升级有显著的促进作用,且这一结论在经过替换变量、考虑其他政策冲击及工具变量检验等一系列稳健性检验后仍然成立；作用机制分析表明,绿色化转型能缓解企业流动性约束,促进企业资本深化,加大企业研发投入,引发企业技能创造性破坏,推动企业人力资本升级；进一步地,绿色化转型的人力资本升级效应在国有企业、高内部控制质量企业、非技术密集型企业以及东部地区企业更为明显。本研究不仅为明晰绿色化转型与企业人力资本升级的关系提供思考,还为高质量发展阶段下经济效益和环境效益双重目标的实现提供启示。

Abstract:

The green low-carbon transformation is a broad and profound economic and social systemic change. Promoting corporate green transformation and human capital upgrading is a realistic requirement for practicing the concept of green development. Based on the data of employee skill structure of Chinese A-share listed companies from 2010 to 2022, this paper obtains the data of enterprise green transformation through text analysis to explore the impact of green transformation on human capital upgrading of enterprises and its impact channels. The study finds that green transformation has a significant promotion effect on enterprise human capital upgrading, and this conclusion still holds after a series of robustness tests, such as replacing variables, considering other policy shocks, and instrumental variable tests. The mechanism analysis shows that green transformation can alleviate enterprise liquidity constraints, promote enterprise capital deepening, increase enterprise R D investment, trigger the creative destruction of different skills, and then promote enterprise human capital upgrading. Additionally, the human capital upgrading effect of green transformation is more obvious in state-owned enterprises, enterprises with high quality of internal control, non-technology-intensive enterprises, and enterprises in eastern regions. This study not only provides thoughts on the relationship between green transformation and human capital upgrading of enterprises, but also offers insights for the realization of the dual goals of economic and environmental benefits in the stage of high-quality development.