Abstract：
As the leading financial institutions in China, it is crucial for commercial banks to pay attention to environmental protection (E), social responsibility (S), and corporate governance (G) in order to enhance operational efficiency and to advance the high-quality development of the country\'s social economy. This research explores the market share of banks as exogenous variables in the profit stage and the market and sustainability stage to investigate the efficiency of 20 listed banks in China over 2016-2020 and innovatively incorporates indicators such as green credit, social giving, executive compensation, and ESG score into the meta-dynamic two-stage SBM under the exogenous variable DEA model. The results demonstrate the following. (1) By integrating market share as an exogenous variable in the model, the efficiency estimate is more precise. (2) In overall, UCBs are the most efficient type of banks, JSCBs are the second, SOCBs are the least efficient. All three types of banks are more efficient in profit stage versus the market and sustainability stage, JSCBs perform best in the profit stage, where SOCBs perform best in the market and sustainability stage. The three different bank types\' TGR performance is comparable to their efficiency value performance. (3) SOCBs lead in ESG investment and have the best ESG performance due to their distinct state-owned background. With their ongoing dedication to profit maximization and disregard for social responsibility and sustainable development, JSCBs have the worst ESG performance. (4) Policy recommendations are made based on the study\'s findings for commercial banks, stakeholders, and regulators to support ESG investment and to bring about long-term sustainable development. Finally, as ESG develops in China, future research can consider longer time scales and larger perspectives to investigate the sustainability efficiency of commercial banks themselves, as well as their role in the local economy and industrial transformation.
摘要：
作为中国领先的金融机构，商业银行关注环境保护至关重要(E)，社会责任（S），和公司治理（G），以提高运营效率，推进国家社会经济的高质量发展。本研究将银行的市场份额作为利润阶段和市场与可持续性阶段的外生变量，考察中国20家上市银行2016-2020年的效率，并创新性地纳入绿色信贷等指标，社会给予,高管薪酬,并将ESG评分纳入外生变量DEA模型下的元动态两阶段SBM。结果证明如下。(1)通过将市场份额作为外生变量整合到模型中,效率估计更精确。（2）总的来说，UCB是最有效的银行类型，JSCBs是第二个，SOCB效率最低。与市场和可持续性阶段相比，这三种类型的银行在利润阶段的效率更高，JSCBs在盈利阶段表现最好，SOCB在市场和可持续发展阶段表现最佳。三种不同的银行类型的TGR性能与其效率值性能相当。（3）SOCB由于其独特的国有背景，在ESG投资方面领先，ESG表现最好。他们不断致力于利润最大化，无视社会责任和可持续发展，JSCB的ESG性能最差。(4)根据研究结果对商业银行提出政策建议,利益相关者，和监管机构支持ESG投资，实现长期可持续发展。最后,随着ESG在中国的发展，未来的研究可以考虑更长的时间尺度和更大的视角来研究商业银行自身的可持续性效率，以及它们在当地经济和产业转型中的作用。
