企业信息化水平对节能减排的影响及机制探究——基于A股上市公司的实证分析

Exploration of the Impact and Mechanism of Enterprise Informatization Level on Energy Conservation and Emission Reduction—Empirical Analysis Based on A-Share Listed Companies

摘要: 本研究以2008年至2022年间中国沪深A股上市公司作为研究对象，旨在系统探究企业信息化水平对节能减排的影响及其内在作用机理。通过严谨而全面的实证分析，本文明确揭示了企业信息化水平与节能减排之间存在显著的正相关关系，并深入剖析了其内在作用机制。研究结果表明，企业信息化水平的提升对节能减排具有显著的促进作用，且该结论在经历了一系列严格的稳健性检验和内生性测试后依然保持稳健，充分验证了企业信息化水平在推动节能减排方面的积极效应。此外，本研究还进一步发现，企业信息化水平能够通过有效缓解融资约束，进而促进节能减排目标的实现。与此同时，基于产权性质、行业特性、地域分布等多个维度的异质性分析，本研究揭示出国有企业、劳动密集型行业以及东西部地区的企业，在信息化水平对节能减排的影响上表现得更为显著。这一发现不仅深化了学术界对企业信息化水平作用机制的理解，也为不同类型企业制定科学合理的信息化转型策略提供了坚实的实证依据。

Abstract: This study takes Chinese A-share listed companies in Shanghai and Shenzhen from 2008 to 2022 as the research object, aiming to systematically explore the impact of enterprise informatization level on energy conservation and emission reduction, as well as its internal mechanism. Through rigorous and comprehensive empirical analysis, this article clearly reveals a significant positive correlation between the level of enterprise informatization and energy conservation and emission reduction, and deeply analyzes its internal mechanism of action. The research results indicate that the improvement of enterprise informatization level has a significant promoting effect on energy conservation and emission reduction, and this conclusion remains robust after a series of strict robustness tests and endogeneity tests, fully verifying the positive effect of enterprise informatization level in promoting energy conservation and emission reduction. In addition, this study further found that the level of enterprise informatization can effectively alleviate financing constraints and promote the achievement of energy conservation and emission reduction goals. At the same time, based on heterogeneity analysis from multiple dimensions such as property rights, industry characteristics, and regional distribution, this study reveals that state-owned enterprises, labor-intensive industries, and enterprises in the eastern and western regions have a more significant impact on energy conservation and emission reduction in terms of information technology level. This discovery not only deepens the academic understanding of the mechanism of enterprise informatization level, but also provides solid empirical evidence for different types of enterprises to formulate scientific and reasonable informatization transformation strategies.