Research on the Impact of Digital Finance on Green Technology Innovation of Manufacturing Enterprises:Based on the Moderating Effect of Enterprise Financialization
The manufacturing industry is an important force driving national production and the smooth running of the economy,and also the main body of green technology innovation activities in China,but in recent years in the process of development has continued to appear the trend of financialization,which results in that its behavior of resource allocation changes.Digital finance,as a new form of finance de-rived from the emerging technologies in recent years,can effectively make up the shortcomings of tradi-tional finance and provide financial support for enterprises.With the data of Chinese A-share manufac-turing firms from 2011 to 2021,the moderating effect of enterprise financialization between digital fi-nance and green technology innovation of manufacturing firms is studied and analysed.The result sug-gests the following:the digital finance promotes the green technology innovation of manufacturing en-terprises;the financialization of manufacturing enterprises has a significant negative moderating effect between digital finance and green technological innovation of enterprise;The incentive effect of digital finance on green technological innovation of manufacturing enterprises is more pronounced in state-owned enterprises,enterprises in eastern region,and enterprises with a higher degree of pollution.Final-ly,policy recommendations are given with relevant theoretical support.
Digital FinanceGreen Technology InnovationEnterprise FinancializationManufacturing Industry
NETL
NSTL
万方数据
