金融科技对制造业上市企业绿色技术创新的影响研究

Research on the Impact of Fintech on Green Technology Innovation of Listed Manufacturing Enterprises

摘要: 在全球气候治理与“双碳”目标驱动下，中国制造业正加速向绿色低碳转型。作为国民经济支柱，制造业在推动经济增长的同时也面临严峻的环境压力。金融科技作为技术驱动的金融创新范式，为破解绿色技术创新瓶颈提供了新思路。本研究选取2011至2023年于沪深A股上市的制造业公司作为样本数据来源，通过构建具备城市级别的金融科技指数体系，运用实证研究方法，深入剖析金融科技对制造业企业绿色技术创新所产生的影响。研究发现，金融科技对制造业企业绿色技术创新具有显著驱动作用，尤其在沿海区域、公司治理水平较低的企业及国有控股实体中呈现更强助力效果。机制分析表明，金融科技通过缓解融资约束和推动数字化转型两条路径赋能绿色创新。本研究深化了金融科技对企业创新影响的理解，为政府制定政策、企业推进数字化转型及绿色技术创新提供了理论支持。

Abstract: Under the impetus of global climate governance and China’s “Dual Carbon” goals, China’s manufacturing industry is accelerating its transformation towards green and low-carbon development. As a pillar of the national economy, the manufacturing industry not only drives economic growth but also faces severe environmental pressures. Fintech, as a technology-driven financial innovation paradigm, provides new ideas for breaking through the bottleneck of green technology innovation. This study takes the manufacturing listed companies on the Shanghai and Shenzhen A-share markets from 2011 to 2023 as samples, constructs a city-level fintech index, and conducts an empirical analysis of the impact of fintech on green technology innovation. The research finds that fintech significantly promotes the green technology innovation of manufacturing enterprises, and this effect is more remarkable in coastal areas, enterprises with weak internal control mechanisms and state-owned enterprises. The mechanism analysis shows that fintech empowers green innovation through two paths: alleviating financing constraints and promoting digital transformation. This study deepens the understanding of the impact of fintech on enterprise innovation and provides theoretical support for the government to formulate policies and for enterprises to promote digital transformation and green technology innovation.