摘要
本文基于2011—2020年上市公司数据和北京大学编制的数字金融指数,从数字金融这一视角入手,实证检验了数字金融对企业可持续发展绩效的影响,发现数字金融的发展显著提高了企业可持续发展绩效。机制检验发现,数字金融通过缓解企业融资约束和促进企业数字化转型的途径提高企业的可持续发展绩效水平。此外,相较于国有企业、非制造业企业和成长期企业而言,数字金融的发展对非国有企业、制造业企业和成熟期企业可持续发展绩效的正向影响更显著。良好的科技环境和金融监管强度的提高均有助于加强数字金融对企业可持续发展绩效的正向影响。本文揭示了数字金融助力企业可持续发展绩效的传导机制,丰富了数字金融领域的研究,拓展了如何推动企业可持续发展的相关讨论,为我国数字金融未来的发展方向和维持企业可持续发展提供了新的经验证据。
Based on the data of listed companies from 2011 to 2020 and the digital finance index compiled by Peking University,this paper empirically tests the impact of digital finance on the sustainable development performance of enterprises from the perspective of digital finance,and finds that the development of digital finance significantly improves the sustainable development performance of enterprises.The mechanism test found that digital finance can improve the sustainable development performance of enterprises by easing the financing constraints of enterprises and promoting the digital transformation of enterprises.In addition,compared with state-owned enterprises,non-manufacturing enterprises and growth-stage enterprises,the development of digital finance has a more significant positive impact on the sustainable development performance of non-state-owned enterprises,manufacturing enterprises and mature enterprises.A favorable scientific and technological environment and the improvement of financial supervision both contribute to strengthening the positive impact of digital finance on the sustainable development performance of enterprises.This paper reveals the transmission mechanism of digital finance to help enterprises'sustainable development performance,enriches the research in the field of digital finance,expands the relevant discussion on how to promote enterprises'sustainable development,and provides new empirical evidence for the future development direction of digital finance in China and the maintenance of enterprises'sustainable development.
作者
王博
康琦
Wang Bo;Kang Qi(School of Finance,Nankai University,Tianjin 300350,China)
出处
《南开经济研究》
CSSCI
北大核心
2024年第5期162-176,共15页
Nankai Economic Studies
基金
国家自然科学基金面上项目“外部冲击对中国金融稳定的影响机理:不确定性与公共事件冲击视角”(72073076)的资助。
关键词
数字金融
融资约束
数字化转型
可持续发展绩效
Digital Financial Enterprises
Financing constraint
Digital Transformation
Enterprise Sustainable Development Performance
作者简介
王博,南开大学金融学院(邮编:300350),E-mail:nkwangbo@nankai.edu.cn;康琦,南开大学金融学院(邮编:300350),E-mail:1120211050@nankai.edu.cn。
