供应链数字化对企业环境绩效的影响——基于绿色创新和融资约束的中介效应

The Impact of Supply Chain Digitization on Corporate Environmental Performance: Based on the Mediating Effects of Green Innovation and Financing Constraints

供应链数字化为企业经济发展提供了新动能,其对企业环境表现的潜在影响仍待进一步研究。以2013—2021年中国1646家A股上市公司为研究样本,采用双重差分模型实证检验了供应链数字化对企业环境绩效的影响。研究发现:供应链创新与应用试点工作显著改善了企业的环境绩效,供应链数字化提高企业环境绩效主要通过促进企业绿色技术创新和缓解融资约束两种途径;供应链数字化对企业环境绩效的积极影响对于国有企业、数字化程度更高的企业和处于环境规制较强区域的企业效果更为显著。据此,建议加快数字化基础建设,满足数字化转型的多层次需求;高度重视供应链数字化的绿色效应,打造绿色技术创新新引擎;完善相关环境规制,构建数字经济下企业前瞻性环境治理体系。

The supply chain digitization provides new momentum for corporate economic development,and its potential impact on corporate environmental performance remains to be further studied.Using 1646 A-share listed companies in China from 2013 to 2021 as the study sample,the impact of supply chain digitization on corporate environmental performance is empirically examined by virtue of a double difference model.It is found that the exogenous event of supply chain innovation and application pilot work significantly improves firms′environmental performance.Mechanism analysis reveals that supply chain digitization improves enterprises′environmental performance mainly through promoting enterprises′green technological innovation and alleviating financing constraints.Further analysis reveals that the positive impact of supply chain digitization on corporate environmental performance is more significant for state-owned enterprises,enterprises with a higher degree of digitization,and enterprises in regions with stronger environmental regulations.Accordingly,it is recommended to accelerate the digital infrastructure construction to meet the multi-level needs of digital transformation,attach great importance to the green effect of supply chain digitization to build a new engine of green technological innovation,and improve the relevant environmental regulations to build a forward-looking environmental governance system for enterprises in the digital economy.