数字金融对企业绿色创新的影响研究——基于区域异质性的视角

Research on the Impact of Digital Finance on Enterprise Green Innovation:From the Perspective of Regional Heterogeneity

随着数字经济的加速发展,数字金融成为推动经济高质量发展的关键因素。选取2011—2018年A股市场上污染性较大行业的微观层面数据以及省际面板数据,研究数字金融与企业绿色创新之间在区域异质性方面的影响机理。结果表明:第一,数字金融与企业绿色创新之间存在着显著而稳定的正向关系;第二,区域与企业性质的异质性研究表明,数字金融对企业绿色创新的促进效果最好的是东部地区,其次为中部,最后为西部,数字金融对国有企业绿色创新的助推效果明显高于非国有企业;第三,数字金融主要通过降低企业的融资难度来促进企业的绿色创新能力。从政府、金融机构和企业三个层面提出提高企业创新水平的建议。

With the accelerated development of the digital economy,digital finance has become a key factor in promoting high-quality economic development.Taking the micro-level data and provincial panel data of highly polluting industries in the A-share market from 2011 to 2018,this paper studies the impact mechanism between digital finance and enterprise green innovation on regional heterogeneity.The results show that:firstly,there is a significant and stable positive relationship between digital finance and enterprise green innovation;secondly,the study on the heterogeneity of regional and enterprise nature shows that the best promotion effect of digital finance on enterprise green innovation is in the eastern region,followed by the central region and finally the western region,and the promotion effect of digital finance on green innovation of state-owned enterprises is significantly higher than that of non-state-owned enterprises;thirdly,digital finance mainly promotes enterprises’green innovation ability by reducing their financing difficulty.Suggestions are put forward to improve the innovation level of enterprises from three levels of government,financial institutions and enterprises.