【作者】 王蓉；

【导师】 刘一鸣；

【作者基本信息】 山东大学 ， 金融（专业学位）， 2025， 硕士

【摘要】 在全球气候变化加剧与生态环境挑战日益严峻的背景下,中国政府提出“双碳”目标,即“2030年碳达峰、2060年碳中和”,以推动经济绿色低碳转型和高质量发展。党的二十大报告提出“推动经济社会发展绿色化、低碳化是实现高质量发展的关键环节”。在这一背景下,供应链金融作为一种基于供应链网络关系的新型金融工具,能够优化链上企业信用配置,在促进企业绿色创新和产业链升级方面有着独特优势。随着“双碳”政策的推进,企业在绿色转型过程中面临着诸多挑战,包括高额的技术投入、不确定的市场回报以及较长的投资回报期,因此,如何有效缓解企业的融资约束、提升绿色投资回报成为当前研究的重要议题。供应链金融作为连接金融机构与实体经济的重要纽带,在缓解企业融资约束、促进资金流通方面发挥着关键作用,尤其是在绿色创新驱动下,供应链金融能够通过核心企业的信用传递,带动供应链上下游企业的资金融通,提高企业绿色技术研发投入,促进企业绿色协同创新,优化供应链结构,进而助力企业实现可持续发展。本研究围绕“双碳”目标下供应链金融如何促进企业绿色协同创新展开探讨,并结合理论分析与实证研究,深入剖析供应链金融对企业绿色创新的影响机制。本文选取2007-2022年上市公司数据,对企业年报进行文本分析从而得到供应链金融指标数据进行实证检验,研究发现,企业采取供应链金融业务能够显著发挥企业绿色协同创新效应,这一结论在经过一系列稳健性检验后依旧成立。异质性检验显示,供应链金融更能促进国有企业和大规模企业联合进行绿色创新,总体上有利于整体供应链绿色绩效的提升。机制检验发现,供应链金融可以通过缓解融资约束、提高运营效率、促进信息披露、维持供应链稳定来提高企业绿色创新水平。进一步研究表明,供应链金融可以通过促进企业绿色转型带来企业经济价值和碳信息披露水平的提高。本研究的结论不仅为供应链金融服务国家“双碳”政策目标、提高供应链可持续性提供理论支撑,也为政府、企业及金融机构等市场主体提供了政策建议。政府应加强对供应链金融的政策引导;企业应充分利用供应链金融工具,提高自身绿色创新能力;金融机构则应优化供应链金融产品设计。同时,政策制定者应进一步完善绿色信贷标准,引导金融资源向低碳环保领域倾斜,形成绿色金融与供应链金融协同发展的良好生态。未来,随着绿色金融市场的不断发展、支持政策的不断完善和环境监管的日益加强,供应链金融势必在推动企业绿色创新、支持经济高质量发展方面发挥更为重要的作用。更多还原

【Abstract】 Against the backdrop of intensified global climate change and increasingly severe ecological and environmental challenges,the Chinese government has proposed the "Dual Carbon" goals——peaking carbon emissions by 2030 and achieving carbon neutrality by 2060—to drive a green and low-carbon economic transformation and high-quality development.The report of the 20th National Congress of the Communist Party of China emphasizes that promoting green and low-carbon economic and social development is a key aspect of achieving high-quality growth.As a crucial link between financial institutions and the real economy,supply chain finance plays a key role in alleviating corporate financing constraints and optimizing capital allocation.Particularly under the "Dual Carbon" goals,supply chain finance can increase investment in green technology research and development,facilitate green collaborative innovation among enterprises and optimize supply chain structures,thereby helping businesses achieve sustainable development.This study explores how supply chain finance promotes green collaborative innovation under the "Dual Carbon" framework,integrating theoretical analysis with empirical research to deeply examine the impact mechanisms of supply chain finance on corporate green innovation.This paper selects data from listed companies from 2007 to 2022,conducts text analysis of corporate annual reports to derive supply chain finance indicator data,and performs empirical tests.The research finds that engaging in supply chain finance activities has a marked effect on enhancing green collaborative innovation within enterprises,and this conclusion remains robust after a series of stability tests.Heterogeneity analysis reveals that supply chain finance is more effective in promoting green innovation among state-owned enterprises and large-scale enterprises,ultimately benefiting the overall green performance of the supply chain.Mechanism tests indicate that supply chain finance enhances corporate green innovation by alleviating financing constraints,improving operational efficiency,promoting information disclosure,and maintaining supply chain stability.Further research suggests that supply chain finance can drive corporate green transformation,leading to improvements in production efficiency and carbon information disclosure.The findings of this paper provide theoretical support for supply chain finance to serve national "Dual Carbon" policy objectives and promote sustainable supply chain development.In the future,with the continuous expansion of the green finance market and the strengthening of environmental regulations,supply chain finance is expected to play an increasingly important role in driving corporate green innovation and achieving high-quality economic development.更多还原