【摘要】 以2016—2021年沪深两市A股上市公司的数据作为研究样本，运用固定效应面板模型就数字化转型对企业绿色创新绩效的影响进行实证分析，同时探究融资约束的中介效应及风险承担水平、政府补助的调节作用。研究发现：数字化转型能显著促进企业绿色创新绩效的提高，且该作用在国有企业、非重污染企业及市场化程度较低的企业中更明显。进一步分析发现：融资约束在数字化转型对企业绿色创新绩效影响的过程中发挥了部分中介作用；风险承担水平和政府补助均发挥了正向调节作用。因此，企业层面应积极进行数字化转型，通过缓解融资约束来促进绿色创新绩效的提高，并积极发挥风险承担水平和政府补助的调节作用；政府层面应完善补助政策，推动企业绿色创新绩效的持续提高。更多还原

【Abstract】 Taking the data of A-share listed companies in Shanghai and Shenzhen stock markets from 2016 to 2021 as the research sample, the fixed-effect panel model is used to empirically analyze the impact of digital transformation on the green innovation performance of enterprises, explore the mediating effect of financing constraints and the moderating effect of risk taking level and government subsidies. The study found that digital transformation can significantly improve the green innovation performance of enterprises, and it is more obvious in state-owned enterprises, non-heavy polluting enterprises and enterprises with a low degree of marketization. Further analysis found that financing constraints played a partial intermediary role in the impact of digital transformation on green innovation performance; risk-taking levels and government subsidies both played a positive moderating role.Therefore, enterprises should actively carry out digital transformation, promote the improvement of green innovation performance by alleviating financing constraints, and actively play the moderating role of risk-taking level and government subsidies. The government should improve the subsidy policy to promote the continuous improvement of green innovation performance of enterprises.更多还原