金融科技的绿色技术创新效应研究——基于创新增量提质的视角  

A Study on the Green Technology Innovation Effect ofFinTech:Based on the Perspective of Quantitative Growth and Qualitative Enhancement of Innovation

作　　者：王世文 李星颖 季建文 张浩博 Wang Shiwen;Li Xingying;Ji Jianwen;Zhang Haobo

机构地区：[1]苏州科技大学商学院 [2]南开大学经济学院

出　　处：《宏观经济研究》2025年第3期36-49,共14页Macroeconomics

基　　金：江苏省研究生科研与实践计划项目“银行金融科技能否提升企业ESG表现:效应、机制与路径优化”(SJCX24_1829);中国物流学会、中国物流与采购联合会项目“区块链技术赋能绿色供应链金融发展的逻辑机理与优化进路研究”(2024CSLKT3-308)的资助。

摘　　要：作为技术赋能下的金融创新,金融科技已成为推动企业绿色技术创新的关键驱动力。本文基于2012—2023年沪深A股上市公司数据,实证检验了金融科技对企业绿色技术创新的影响,研究发现:金融科技对企业绿色技术创新存在显著的正向驱动作用,能够为绿色技术创新增量提质提供动力,且该效应在非高科技企业、非重污染企业和国有企业中更为明显。“激励—约束”框架下的调节机制发现,绿色金融和金融监管在金融科技与企业绿色技术创新的关系中发挥正向调节作用。“技术—融资”框架下的中介机制表明,金融科技通过推动数字化转型和缓解融资约束进而促进企业绿色技术创新。因此,大力发展金融科技以激发企业绿色技术创新动力,对加快经济社会发展全面绿色转型具有重要意义。As a financial innovation empowered by technology,FinTech has become a key driving force to promote enterprise green technology innovation.Based on the data of A-share listed companies in Shanghai and Shenzhen from 2012 to 2023,this article empirically examines the impact of FinTech on enterprise green technology innovation,and finds that:FinTech has a significant positive driving effect on enterprise green technology innovation,which can provide power for the incremental improvement of the quality of green technology innovation,and the effect is more obvious in the non-high-tech enterprises,non-heavily polluted enterprises and state-owned enterprises.The moderating mechanism under the‘incentive-constraint'framework finds that green finance and financial regulation play a positive regulatory role in the relationship between FinTech and enterprises'green technology innovation.The mediation mechanism under the‘technology-financing'framework shows that FinTech promotes enterprises'green technological innovation by facilitating digital transformation and alleviating financing constraints.Therefore,it is of great significance to vigorously develop financial science and technology to stimulate enterprises'green technological innovation and accelerate the overall green transformation of economic and social development.

关 键 词：金融科技 绿色技术创新 金融监管 绿色金融 数字化转型 

分 类 号：F832[经济管理—金融学]