金融科技抑制了企业“漂绿”行为吗?  

Does Fintech Inhibit Corporate"Greenwashing"?

作　　者：谢婷婷 张倩 Xie Tingting;Zhang Qian(School of Finance,Xinjiang University of Finance and Economics,Urumqi 830012,Xinjiang,China;Silk Road Economics and Management Research Institute,Xinjiang University of Finance and Economics,Urumqi 830012,Xinjiang China)

机构地区：[1]新疆财经大学金融学院,新疆乌鲁木齐830012 [2]新疆财政与金融协同创新研究中心,新疆乌鲁木齐830012

出　　处：《金融发展研究》2023年第5期20-27,共8页Journal Of Financial Development Research

基　　金：国家社科基金项目“新疆民族地区财政与金融协同促进稳定脱贫的困境及优化路径研究”(20BMZ150)。

摘　　要：推动实现“双碳”目标,需要处理好绿色金融发展过程中的“漂绿”风险,金融科技利用科技手段来识别“漂绿”行为,或将成为抑制企业“漂绿”的重要手段。本文利用2015—2020年发布社会责任报告的沪深A股上市公司数据,研究了金融科技对企业“漂绿”行为的影响及作用机制。研究发现,金融科技对企业的“漂绿”行为存在显著的抑制作用。机制分析表明,金融科技对外能够缓解银行等金融机构与企业之间的信息不对称性,对内可以加强企业的内部监督,以此路径抑制了企业“漂绿”行为。异质性分析表明,在重污染行业、媒体关注度较高的企业以及市场化进程较慢的地区,金融科技对企业“漂绿”行为的抑制效果更好。因此,在推动绿色金融平稳运行的过程中,应加强与金融科技业务的有效融合,处理好绿色转型过程中的金融风险,督促企业落实绿色发展理念。In order to achieve the goal of"double carbon",we need to deal with the risk of"greenwashing"in the process of green finance development,and the use of financial technology to identify"greenwashing"may become an important tool to curb the"greenwashing"of enterprises.Using data from Shanghai and Shenzhen A-share listed companies that published social responsibility reports from 2015 to 2020,this paper investigates the impact of financial technology on corporate"greenwashing"behaviour and its mechanism of action.The study found that fintech has a significant inhibiting effect on corporate"greenwashing"behaviour.The analysis of the mechanism suggests that fintech can mitigate information asymmetry between financial institutions such as banks and firms externally,and strengthen firms'internal oversight internally,thereby discouraging greenwashing behaviour.Heterogeneity analysis shows that fintech is more effective in discouraging corporate"greenwashing"in heavily polluting industries,in companies with high media attention and in regions where marketization is slower.Therefore,in the process of promoting the smooth operation of green finance,the effective integration with financial technology business should be strengthened,the financial risks in the process of green transformation should be dealt with,and enterprises should be urged to implement the concept of green development.

关 键 词：金融科技 企业“漂绿” 信息不对称 内部监督 

分 类 号：F830[经济管理—金融学]