数字金融、绿色财政政策与企业绿色转型

Digital Finance,Green Fiscal Policies,and Green Transformation of Enterprises

文章以2007—2022年中国沪深A股上市公司作为研究样本,探究数字金融对企业绿色转型的影响及作用渠道。研究发现,数字金融能够有效促进企业绿色转型。数字金融可通过信贷配置效应和内部治理效应对企业绿色转型起正向促进作用;在传统金融发展水平较低的地区,数字金融的促进作用更加明显,数字金融还可以明显促进非国有企业以及高管拥有环保经历企业的绿色转型;拓展性研究发现,节能减排财政政策能够强化数字金融对企业绿色转型的促进作用。研究结论为企业在“双碳”背景下实现绿色转型提供了切实可行的路径选择。

Utilizing a sample of A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2007 to 2022,this essay examines the impact and mechanisms through which digital finance affects the green transformation of enterprises.It demonstrates,through research,that digital finance serves as a significant catalyst for the green transformation of enterprises.Digital finance can significantly facilitate the green transformation of enterprises by leveraging both the credit allocation effect and the internal governance effect.This positive impact is particularly pronounced in regions where traditional financial systems are underdeveloped.Furthermore,digital finance markedly facilitates the green transformation of non-state-owned enterprises,as well as enterprises led by executives possessing environmental expertise.Expansive research has demonstrated that fiscal policies designed to promote energy conservation and reduce emissions can significantly enhance the capacity of digital finance to facilitate the green transformation of enterprises.The findings of this study provide feasible strategies for enterprises seeking to achieve green transformation within the framework of the"dual carbon"objectives.