数据要素市场建设与企业绿色技术创新——基于“绿色金融-绿色信息”双螺旋政策的协同证据  

Empowering Green Innovation Through Data:Corporate Green Technology Innovation Under Data Factor Market Development:Evidence of Synergy from the“Green Finance-Green Information”Double Helix Policy

作　　者：刘力源 杨英法[2] LIU Liyuan;YANG Yingfa(College of Marxism of East China Normal University,Shanghai 200241,China;Cultural and Economic Research Center foHebei University of Engineering,Handan 056038,China)

机构地区：[1]华东师范大学马克思主义学院,上海200241 [2]河北工程大学文化经济研究中心,河北邯郸056038

出　　处：《商业研究》2025年第2期107-117,共11页Commercial Research

摘　　要：数据要素作为新型生产要素,已成为推动企业高质量发展的重要引擎。本文以2007—2022年沪深两市A股上市企业数据为样本,系统考察了数据要素市场建设对企业绿色技术创新的影响。研究发现,数据要素市场建设确实能够有效提升企业绿色技术创新水平。异质性分析发现,数据要素市场建设对环境规制较强地区的企业、已开展绿色转型的企业以及位于东部和西部地区的企业具有显著的绿色创新驱动效果;中部地区企业的绿色创新驱动效果相对较弱,表明政策效应存在区域差异。机制检验发现,信息质量改进、环保投资力度加大以及创新风险分摊机制是数据要素市场建设影响企业绿色技术创新的三大关键驱动路径。进一步分析发现,当数据要素市场建设与绿色金融政策工具、环境信息披露制度形成政策协同效应时,能够释放叠加放大效应,为企业构建可持续发展的良性循环体系提供强大动力。As a new type of production factor,data has become an important engine driving high-quality development in enterprises.This paper systematically examines the impact of data factor market construction on corporate green technology innovation,using data from A-share listed companies in the Shanghai and Shenzhen stock markets from 2007 to 2022 as a sample.The study finds that the construction of the data factor market can indeed effectively enhance the level of green technology innovation in enterprises.Heterogeneity analysis reveals that the construction of the data factor market has a significant green innovation-driving effect on enterprises in regions with stronger environmental regulations,enterprises that have already undergone green transformation,and enterprises located in the eastern and western regions of China.However,the green innovation-driving effect is relatively weaker for enterprises in the central region,indicating regional differences in policy effectiveness.Mechanism tests show that improvements in information quality,increased environmental protection investment,and innovation risk-sharing mechanisms are the three key driving pathways through which the construction of the data factor market influences corporate green technology innovation.Further analysis reveals that when the construction of the data factor market forms a policy synergy with green financial policy tools and environmental information disclosure systems,it can unleash a superimposed amplification effect,providing strong momentum for enterprises to build a sustainable development cycle system.

关 键 词：数据要素市场建设 绿色技术创新 绿色金融 环境信息披露 

分 类 号：F284[经济管理—国民经济]