政府采购会激励企业进行绿色创新吗?

Will Government Procurement Incentivize Green Innovation?

政府采购能否有效激励企业进行绿色创新是社会各界共同关注的问题。本文利用2016—2021年A股上市企业为样本,实证检验了政府采购对企业绿色创新的影响。研究发现,企业获得的政府采购订单越多,其绿色创新水平越高。机制检验表明,政府采购主要通过缓解需求前景不确定性、降低债务融资成本以及提高信息披露质量激励企业绿色创新,这种激励作用在产品需求稳定性更低、融资需求更高以及协同创新需求更高的企业中更强。此外,政府采购对企业绿色创新的正向溢出效应主要体现在同行业企业,而非同区域企业。对于前期绿色创新水平相同的企业,政府采购的激励效应差异依然显著。本文研究结论为优化绿色财政政策提供了理论支持和经验证据。

Whether government procurement can effectively motivate enterprises to carry out green innovation is a common concern of all sectors of society.Using A-share listed enterprises from 2016 to 2021 as samples,this paper empirically tests the impact of government procurement on corporate green innovation.The study found that the more government purchase orders a company received,the higher its level of green innovation.The mechanism test shows that government procurement mainly stimulates enterprises’green innovation by alleviating the uncertainty of demand prospects,reducing debt financing costs and improving the quality of information disclosure.This incentive effect is more pronounced in enterprises with lower product demand stability,higher financing demand and higher collaborative innovation demand.In addition,the positive spillover effect of government procurement on enterprises’green innovation is mainly reflected in enterprises in the same industry,rather than enterprises in the same region.For enterprises with the same level of green innovation in the early stage,the differential in incentive effect of government procurement is still significant.The conclusions of this paper provide theoretical support and empirical evidence for the continuous optimization of green fiscal policy.