【摘要】 当前，以大数据、云计算等为代表的数字技术快速发展，为企业绿色创新提供了新动能。然而，数字赋能的“有效性”问题一直在学术界存在争议。基于2010—2020年中国沪深A股重污染企业数据，实证检验了数字化转型对企业绿色创新的影响及作用机制。研究发现，数字化转型与绿色创新之间存在显著的倒“U”型关系，且样本企业广泛分布于倒“U”型曲线最高点的左侧；管控投入在数字化转型与企业绿色创新的关系中发挥部分中介作用。同时，政府补助能够显著强化数字化转型与企业绿色创新之间的倒“U”型关系。异质性分析表明，上述倒“U”型关系主要存在于国有企业和媒体报道较多的企业中。这说明，“技术驱动”有助于重污染企业绿色创新“增量提质”,但过度数字化会诱使企业陷入“技术鸿沟”,不利于数字化与绿色创新的协同推进。因此，重污染企业应找准数字技术赋能生态环境保护的契合点与着力点，政府可以利用补贴政策进一步激励企业数字赋能绿色创新。更多还原

【Abstract】 Currently, the rapid advancement of digital technologies, represented by big data and cloud computing, has provided enterprises with new driving forces to promote green innovation. Nevertheless, the “effectiveness” of digital empowerment has not reached a consensus. Based on the data of Shanghai and Shenzhen A-share heavy-polluting enterprises from 2010 to 2020, this paper empirically explores the impact mechanism of digital transformation on corporate green innovation. It is found that there is a significant inverted U-shaped relationship between digital transformation and green innovation, and the sample enterprises are widely distributed on the left apex of the inverted U-shaped curve. The mechanism test shows that management and control input plays a partial intermediary role in the relationship between digital transformation and corporate green innovation, and government subsidies can significantly strengthen the inverted U-shaped relationship. Further analysis finds that the inverted U-shaped relationship is predominantly observed in state-owned enterprises and enterprises with more media reports. It indicates that “technology drivers” facilitate the increases in quantity and quality of green innovation output of heavy-polluting enterprises, but excessive digital transformation will induce enterprises to fall into the “technology gap”, which is not conducive to the coordinated promotion of digital construction and green innovation. Therefore, heavy-polluting enterprises should identify the convergence and focus points of digital technology enabling ecological and environmental protection, and the government can use subsidy policies to further incentivize enterprises to digitally enable green innovation.更多还原