绿色金融对制造业企业数字技术创新的影响

——基于研发强度和融资约束双视角

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中图分类号：F832；F424 文献标识码：A doi：10.3969/j.issn.1672-2272.202510055

Abstract：Against the backdrop of global sustainabledevelopment and the digital transformation of the manufacturing industry，green finance has become a policy instrument for guiding resource allcation and stimulating corporate innovation，and the specific mechanisms through which it influences the digital technology innovation of manufacturing enterprises warrant in-depth investigation.Based on panel data from manufacturing listed companies on the Shanghai and Shenzhen Ashare markets from 2010 to 2023，this study empirically examines the impact of green finance on digital technology innovation in manufacturing enterprises.The results indicate that green finance is an important driving force for digital technology innovation in manufacturing enterprises and has passed robustness tests.Heterogeneity analysis indicates that this driving force is more pronounced for enterprises in western regions，stateowned enterprises，and non-heavy polluting enterprises.Mechanism tests reveal that green finance influences digital technology innovation in manufacturing enterprises by acting on R&.D intensity and financing constraints.The study reveals a dual-path mechanism whereby green finance drives digital technology innovation，providinga theoretical basis for the coordinated implementation of financial policy and industrial technology policy.

Keywords：green finance；digital technology innovation；manufacturing enterprise

0 引言

国家数据局发布的《数字中国发展报告（2024年）》指出，2024年我国生成式人工智能专利占全球总数的61.5% ，标志着数字技术创新水平再上新台阶。（剩余11700字）