数字普惠金融对中小微制造业企业绿色创新有正向影响吗?——基于融资约束角度  

Does Digital Financial Inclusion Have a Positive Impact on the Green Innovation of Micro, Small and Medium-Sized Manufacturing Enterprises?—Based on the Perspective of Financing Constraints

作　　者：宗苏玉 

机构地区：[1]上海工程技术大学管理学院,上海

出　　处：《运筹与模糊学》2023年第5期5811-5828,共18页Operations Research and Fuzziology

摘　　要：数字普惠金融是推动企业实现绿色技术创新、提高效益、节能减排的重要途径,一直是政府和社会各界共同关心的问题。本文采用2011~2020年沪深两市制造业中小型上市公司数据,运用OLS多元回归模型分析数字普惠金融对于中小制造业企业的绿色创新活动的影响,发现数字普惠金融对于中小制造企业绿色创新有着显著的促进作用,经过多重稳健性检验后,结论依然成立。通过中介效应分析,数字普惠金融能够通过缓解企业融资约束从而推动企业绿色创新。异质性检验发现,数字普惠金融对于中西部地区以及民营企业的绿色创新促进作用更为显著。基于以上研究分析的政策启示:政府需引导企业借助数字普惠金融这个契机,加快实现绿色转型的目标。在看到数字普惠金融带来的红利同时,要善于把控其中所蕴含的金融风险,不断扩展数字普惠金融的覆盖广度,让更多群体得到必需的金融服务。Digital financial inclusion is an important way to promote enterprises to achieve green technology innovation, improve efficiency, energy conservation and emission reduction, and has always been a common concern of the government and all sectors of society. This paper uses the data of small and medium-sized listed companies in the manufacturing industry of Shanghai and Shen-zhen from 2011 to 2020, and uses the OLS multiple regression model to analyze the impact of digital inclusive finance on the green innovation activities of small and medium-sized manufacturing enterprises, and finds that digital inclusive finance has a significant role in promoting the green innovation of small and medium-sized manufacturing enterprises. Through the analysis of intermediary effect, digital financial inclusion can promote green innovation by alleviating cor-porate financing constraints. The heterogeneity test found that digital financial inclusion has a more significant role in promoting green innovation in the central and western regions and private enterprises. Based on the above research and analysis, the policy implication is that the government needs to guide enterprises to take advantage of the opportunity of digital financial inclusion to accelerate the goal of green transformation. While seeing the dividends brought by digital inclusive finance, we must be good at controlling the financial risks contained in it, continuously expand the coverage of digital inclusive finance, and allow more groups to obtain necessary financial services.

关 键 词：数字普惠金融 绿色创新 融资约束 

分 类 号：F83[经济管理—金融学]