数字化转型对企业“漂绿”行为的影响——基于环境成本与媒体监督的中介作用  

The Impact of Digital Transformation on Corporate"Greenwashing"Behavior--Based on the Mediating Role of Environmental Costs and Media Monitoring

作　　者：马凌远[1] 张胜利 Ma Lingyuan;Zhang Shengli(School of Economics,Zhengzhou University of Aeronautics,Zhengzhou 450046,Henan,China)

机构地区：[1]郑州航空工业管理学院经济学院,河南郑州450046

出　　处：《金融发展研究》2024年第7期65-76,共12页Journal Of Financial Development Research

基　　金：河南省高等学校智库研究项目“河南绿色金融的‘漂绿’风险防范化解对策研究”(2023ZKYJ25);河南省高等学校重点科研项目“河南省数字经济核心产业关联测度及其宏观经济效应研究”(23A790014)。

摘　　要：数字化转型已被证实对研发操纵等企业投机行为具有治理效应,“双碳”目标下,其对企业“漂绿”行为的影响有待深入研究。本文以2008—2021年中国A股上市公司为研究样本,考察了数字化转型与企业“漂绿”的关系。研究发现,数字化转型能有效抑制企业“漂绿”行为,数字化转型水平每提高1%,企业“漂绿”行为会降低3.42%。环境成本与媒体监督在数字化转型与企业“漂绿”之间起部分中介作用。异质性分析表明,在环境规制强度较低、代理成本较高以及民营企业组别中,数字化转型与企业“漂绿”行为的负相关关系更为明显。经济后果检验发现,数字化转型通过抑制“漂绿”行为促进了企业的高质量发展。文章结论有助于为数字经济时代的企业“漂绿”行为治理及经济高质量发展提供重要政策启示。Digital transformation has been shown to have a governance effect on corporate speculation such as R&D manipulation,and its impact on corporate"greenwashing"under the"dual-carbon"goal needs to be studied in depth.This paper examines the relationship between digital transformation and corporate"greenwashing"using a sample of A-share listed companies in China from 2008 to 2021.The study found that digital transformation can effectively curb corporate"greenwashing"behavior,and for every 1%increase in the level of digital transformation,corporate"greenwashing"behavior will be reduced by 3.42%.Environmental costs and media scrutiny partially mediate between digital transformation and corporate"greenwashing".Heterogeneity analysis shows that the negative correlation between digital transformation and"greenwashing"behavior is more pronounced in the group of lower environmental regulation intensity,higher agency costs and private enterprises.The economic consequences test finds that digital transformation promotes high-quality development of enterprises by curbing"greenwashing"behavior.The conclusions of the article provide important policy implications for the governance of corporate"greenwashing"and the high-quality development of the economy in the era of digital economy.

关 键 词：数字化转型 “漂绿” 环境成本 媒体监督 

分 类 号：F830[经济管理—金融学]