数字化发展对企业绿色创新的影响

doi:10.16381/j.cnki.issn1003-207x.2023.0308

Abstract

Abstract:

As the world's largest carbon emitter， China is committed to building a sustainable environmental governance system， and optimizing the industrial structure and energy structure. Green innovation is an important support for transforming the mode of economic development and promoting the construction of ecological civilization. How to promote enterprises to carry out effective and high-quality green innovation is an important issue to be solved urgently in the new era. At present， the rapid development of the digital economy and the depth of its influence are unprecedented. It has become a new force in the global restructuring of factor resources and economic structure， and in the changing of the competitive landscape. Therefore， in the context of digital economy， enterprise digital transformation will soon become an important driving force for the upgrading of green innovation strategy. In particular， the impact of digital development on the upgrading of enterprises' green innovation strategy is worthy of in-depth discussion.All A-share listed companies are selected from 2011 to 2020 as research samples. Based on natural resource base view and transaction cost theory， panel quantile regression model and adjustment mechanism model are constructed. The impact of enterprise digital development on green innovation and the specific transmission path is discussed， and then the regulatory role of financing constraints and local intellectual property protection on the impact of digital economy is explored. The results show that there is a significant positive correlation between enterprise digital development and green innovation， that is， enterprise digital development has a lagging incentive effect on green innovation， and can promote the output of green invention patents and green utility patents. According to the panel quantile regression， the innovation-driving effect of digital development is different for enterprises with different levels of green innovation output. With the continuous improvement of enterprises' green innovation level， the incentive effect of digital development is more and more significant. In addition， the regulatory mechanism analysis results show that the promotion effect of enterprise digital development on green innovation is more significant in enterprises with low financing constraints and strong local intellectual property protection. This study has certain reference significance for the consequences of digital economy and the development of enterprise green innovation.

Key words: digital development, green innovation, financing constraints, local intellectual property protection

CLC Number:

Li-ting FANG,Guan-lan ZHANG,Kun-ming LI. The Impact of Digital Development on Corporate Green Innovation[J]. Chinese Journal of Management Science, 2023, 31(12): 350-360.

Figures/Tables 7

References 30

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变量	观测数	均值	标准差	最小值	中位数	最大值
Lngrepa	19907	1.0778	1.2478	0.0000	0.6931	5.3753
Lngreinvpa	19907	0.7270	1.0415	0.0000	0.0000	4.8828
Lngreumpa	19907	0.7384	1.0152	0.0000	0.0000	4.4886
Dig	19907	1.7935	1.1690	0.0000	1.7918	4.6728
SA	19907	-3.7968	0.2431	-4.5102	-3.7986	-3.0526
IPR	19907	0.0069	0.0093	0.0000	0.0038	0.1012
Sale	19907	21.4872	1.4139	18.6550	21.3226	25.8679
SOE	19907	0.3122	0.4634	0.0000	0.0000	1.0000
Lev	19907	0.3986	0.1965	0.0283	0.3878	0.8830
Cash	19907	0.1881	0.1317	0.0174	0.1517	0.8123
Roa	19907	0.0406	0.0642	-0.4352	0.0404	0.2142
Tq	19907	1.0555	0.3225	0.5938	0.9770	2.4826
Top10	19907	59.4984	14.7320	22.3376	60.6550	91.0366
RD	19907	17.8576	1.4597	13.2737	17.8271	22.3305
GDP	19907	11.1807	0.4507	9.8417	11.2232	12.0130

变量	（1）	（2）	（3）	（4）	（5）
变量	Lngrepa	Lngrepa	Lngrepa	Lngreinvpa	Lngreumpa
L.Dig	0.1332^***	0.1896^***	0.1240^***	0.1075^***	0.0739^***
L.Dig	(16.5440)	(21.5410)	(16.3112)	(16.4221)	(11.5925)
L.Sale			0.1114^***	0.1152^***	0.0792^***
L.Sale			(10.3446)	(12.3406)	(8.9223)
L.SOE			0.1151^***	0.1380^***	0.0369^**
L.SOE			(5.6290)	(7.6677)	(2.1693)
L.Lev			0.6663^***	0.3690^***	0.6553^***
L.Lev			(11.2371)	(7.3095)	(13.3870)
L.Cash			0.2840^***	0.3625^***	0.1385^***
L.Cash			(4.3212)	(6.4329)	(2.6484)
L.Roa			0.0381	-0.1806	0.0474
L.Roa			(0.2688)	(-1.5194)	(0.4186)
L.Tq			-0.0310	0.0745^***	-0.1281^***
L.Tq			(-0.9780)	(2.7763)	(-4.9570)
L.Top10			-0.0028^***	-0.0019^***	-0.0012^**
L.Top10			(-4.7861)	(-3.6608)	(-2.4061)
L.RD			0.3250^***	0.2681^***	0.2220^***
L.RD			(38.5174)	(36.6742)	(32.0049)
L.GDP			0.0624^***	0.0821^***	0.0507^***
L.GDP			(2.9538)	(4.4810)	(2.8874)
Constant	0.9021^***	0.8027^***	-8.1055^***	-7.7952^***	-5.6578^***
Constant	(55.0560)	(47.5614)	(-27.4770)	(-29.6571)	(-22.7259)
L.CVs	No	No	Yes	Yes	Yes
Year FE	No	Yes	Yes	Yes	Yes
Industry FE	No	Yes	Yes	Yes	Yes
N	16999	16999	16999	16999	16999
R²	0.1152	0.1088	0.3467	0.3203	0.3174
F	273.7033	464.0136	580.9963	453.7271	397.1789

变量	0.1	0.25	0.5	0.75	0.9
变量	Lngrepa
L.Dig	0.0934^***	0.1030^***	0.1197^***	0.1416^***	0.1620^***
L.Dig	(8.3165)	(11.5966)	(15.9610)	(11.9397)	(8.8292)
	Lngreinvpa
L.Dig	0.0652^***	0.0764^***	0.0977^***	0.1320^***	0.1677^***
L.Dig	(5.1763)	(7.2214)	(11.3304)	(10.6037)	(8.1477)
	Lngreumpa
L.Dig	0.0402^***	0.0487^***	0.0660^***	0.0940^***	0.1219^***
L.Dig	(3.6281)	(5.2230)	(8.4367)	(7.5544)	(5.9887)
L.CVs	Yes	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes	Yes
N	16999	16999	16999	16999	16999

变量	（1）	（2）	（3）	（4）	（5）	（6）
	Lngrepa		Lngreinvpa		Lngreumpa
	SA=1	SA=0	SA=1	SA=0	SA=1	SA=0
L.Dig	0.0941^***	0.1545^***	0.0795^***	0.1366^***	0.0526^***	0.0966^***
L.Dig	(8.9488)	(14.1001)	(8.7874)	(14.5676)	(5.9259)	(10.5686)
Constant	-8.9964^***	-6.0891^***	-8.8733^***	-5.6026^***	-6.5000^***	-3.8321^***
Constant	(-21.7650)	(-14.7229)	(-23.9344)	(-15.8070)	(-18.3241)	(-11.2670)
L.CVs	Yes	Yes	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes	Yes	Yes
N	8392	8606	8392	8606	8392	8606
R²	0.4164	0.3802	0.3975	0.3488	0.3865	0.3512
F	386.2104	214.9142	300.7448	171.4165	258.4721	149.7598
组间回归系数差异性检验	0.0605^***		0.0571^***		0.0440^***

变量	（1）	（2）	（3）	（4）	（5）	（6）
	Lngrepa		Lngreinvpa		Lngreumpa
	IPR=1	IPR=0	IPR=1	IPR=0	IPR=1	IPR=0
L.Dig	0.1522^***	0.0974^***	0.1306^***	0.0866^***	0.0981^***	0.0509^***
L.Dig	(15.1100)	(8.4287)	(15.0964)	(8.7036)	(11.6385)	(5.2450)
Constant	-5.6569^***	-9.7015^***	-5.2238^***	-9.3930^***	-3.9258^***	-6.7258^***
Constant	(-12.4009)	(-22.8642)	(-13.2830)	(-24.9754)	(-10.1996)	(-18.8253)
L.CVs	Yes	Yes	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes	Yes	Yes
N	9570	7429	9570	7429	9570	7429
R²	0.3281	0.3871	0.3938	0.3688	0.3910	0.3671
F	330.6745	270.2472	241.1525	225.5262	229.5619	182.2883
组间回归系数差异性检验	-0.0548^**		-0.0440^**		-0.0472^***

The Impact of Digital Development on Corporate Green Innovation

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变量	（1）	（2）	（3）	（4）	（5）	（6）
变量	Lngrepa	Lngreinvpa	Lngreumpa	Lngrepa	Lngreinvpa	Lngreumpa
L.Dig	0.1576^***	0.1380^***	0.0943^***	0.0930^***	0.0832^***	0.0471^***
L.Dig	(15.3411)	(15.4200)	(11.1038)	(8.7636)	(8.9827)	(5.3692)
L.SA_dum	0.2673^***	0.2301^***	0.2137^***
L.SA_dum	(9.4831)	(9.6790)	(9.1287)
L.Dig_SA_dum	-0.0674^***	-0.0611^***	-0.0417^***
L.Dig_SA_dum	(-5.0540)	(-5.2194)	(-3.8075)
L.IPR_dum				-0.0659^**	-0.0700^***	-0.0505^**
L.IPR_dum				(-2.3469)	(-2.9746)	(-2.1737)
L.Dig_IPR_dum				0.0549^***	0.0436^***	0.0473^***
L.Dig_IPR_dum				(4.1098)	(3.7172)	(4.3276)
Constant	-8.1343^***	-7.8225^***	-5.6712^***	-8.2447^***	-7.8079^***	-5.8130^***
Constant	(-27.8106)	(-30.0330)	(-22.9994)	(-26.7028)	(-28.6889)	(-22.2957)
L.CVs	Yes	Yes	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes	Yes	Yes
N	16999	16999	16999	16999	16999	16999
R²	0.3506	0.3243	0.3220	0.3474	0.3209	0.3183
F	497.1177	385.9824	340.8813	487.4899	379.9004	334.7140