数字化转型促进了企业绿色创新吗?——来自外部治理的视角

Does Digital Transformation Promote Corporate Green Innovation?

企业绿色创新是实现“双碳”目标的重要路径。基于2011—2022年中国沪深A股上市公司27896组非平衡面板数据和中介效应模型,研究了数字化转型对企业绿色创新的影响及外部治理的中介效应。研究发现:企业数字化转型对绿色创新具有显著促进作用,数字化转型水平每增加一个标准差,企业绿色创新水平提高10.27%;数字化转型可以通过强化媒体、分析师和投资者关注等外部治理变量赋能企业绿色创新,按照中介效应强弱排序依次为分析师关注、媒体关注和投资者关注;分组研究表明国有企业底层技术数字化转型对绿色创新产生的影响更大,非国有企业实践应用数字化转型对绿色创新的赋能作用更显著。建议从加快企业数字化转型进程,完善企业绿色信息披露机制,促进数字技术和业务场景融合等方面更好地推动企业绿色创新。

Corporate green innovation is an important way to achieve the goal of"double carbon".Based on 27,896 sets of unbalanced panel data of Chinese A-share listed companies in Shanghai and Shenzhen from 2011 to 2022,the impact of digital transformation on corporate green innovation and the mediating effect of external governance are investigated.The results show that corporate digital transformation has a significant promotion effect on green innovation,and when the digital transformation level increases by one standard deviation,the enterprise green innovation level increases by 10.27%.Digital transformation can empower corporate green innovation by strengthening external governance variables such as media,analysts,and investors'attention,which are followed by analyst attention,media attention and investor attention according to the strength of intermediary effect.The subgroup study shows that the digital transformation of underlying technologies of state-owned enterprises has a greater impact on green innovation,and the practical application of digital transformation of non-state-owned enterprises has a more significant empowering effect on green innovation.It is recommended to better promote the green innovation of enterprises by accelerating the digital transformation process of enterprises,improving the green information disclosure mechanism of enterprises,and promoting the integration of digital technology and business scenarios.