基金信息披露数字化与被持股公司绿色创新  

Digital Transformation of Mutual Fund Information Disclosure and Green Innovation of Shareholding Companies

作　　者：武晨 王可第 Wu Chen;Wang Kedi(Institute of Finance and Development,Nankai University,Tianjin 300071,China;School of Humanities and Social Sciences,Beijing Institute of Technology,Beijing 102488,China)

机构地区：[1]南开大学金融发展研究院,天津300071 [2]北京理工大学人文与社会科学学院,北京102488

出　　处：《科技进步与对策》2023年第10期13-24,共12页Science & Technology Progress and Policy

基　　金：教育部人文社会科学研究青年基金项目(22YJC790126);天津市研究生科研创新项目(2019YJSB059)。

摘　　要：基于中国证监会要求所有基金公司在指定网站使用XBRL格式披露基金信息这一准自然实验,采用双重差分方法考察基金信息披露数字化对被持股企业绿色创新行为的影响。结果发现,基金信息披露数字化显著促进被持股企业绿色创新产出。进一步分析发现,基金信息披露数字化促进被持股企业绿色创新行为是通过提高投资者信息处理效率和发挥机构投资者的外部治理作用实现的。分组检验发现,基金信息披露数字化能够显著提升创新能力不足和创新意愿较低企业的绿色表现。结论表明,数字化转型可以有效提升资本市场服务水平,激励企业绿色发展。As a new generation of general technology,digital technology can significantly improve the service level of the capital market.The application of digital technology can not only effectively reduce the transaction costs of the capital market,but also help the capital market play a fundamental and strategic role in leading corporate green innovation and promote the transformation of industrial structure.China's economy has moved from a stage of rapid growth to a stage of high-quality development.It is significant to focus on the changes in the ecological environment to drive the green and high-quality development of the economy and accelerate the green transformation of the economic structure.XBRL is fully known as the extensible business reporting language,and it promotes the standardization of financial information disclosure.The differences of language style and format of information disclosure will affect investors'cognition of information and their decision-making.XBRL can provide more accurate and reliable financial information,and the standardized information can not only enhance information transparency,but also improve the comparability of information and stakeholders'decision-making efficiency.Meanwhile,XBRL can greatly improve the efficiency of stakeholders'collection,processing,exchange and application of these financial information.This paper tests the economic consequences of the XBRL format to disclose fund-related information,which not only provides investors with reliable data,but also greatly reduces the cost of information collection for investors and other stakeholders,and improves information transparency.The improvement of fund information transparency can prevent fund managers from maliciously manipulating and disturbing the fund market and other short-sighted behaviors.At the same time,the improvement of fund information transparency will not only attract more funds to flow into the fund market,but also boost the enthusiasm of fund managers,improve the efficiency of capital allocation in the

关 键 词：证券投资基金 数字化转型 信息披露 绿色创新 XBRL 

分 类 号：F273.1[经济管理—企业管理]