Table1_Bank digitalization and corporate green innovation: empowering or negative?.XLSX

In the context of bank digitalization construction, this paper explores the impact and mechanism of bank digital transformation on corporate green innovation based on the data of listed enterprises from 2010 to 2021. It is found that bank digital transformation enhances the overall and strategic nature of corporate green innovation but has no significant impact on corporate substantive green innovation. The mechanism analysis shows that bank digital transformation can promote corporate green innovation by inhibiting corporate financialization and alleviating corporate financing constraints. Government environmental regulation and media attention have a positive moderating effect on the relationship between banks’ digital transformation, and enterprises’ green innovation, i.e., an increase in the level of government environmental regulation and an increase in media attention will strengthen the promotion effect of banks’ digital transformation on enterprises’ green innovation. Heterogeneity analysis shows that the promotion effect of banks’ digital transformation on corporate green innovation is more significant for state-owned enterprises, heavily polluted enterprises, large-scale enterprises, and enterprises in the eastern region. Therefore, the digital transformation of banks can “empower” the green innovation of enterprises, help the green development of enterprises, and lead the high-quality development of the economy. At the same time, the study’s results also show that the green development of enterprises should not be “superficial” but “substantial.”

立足于银行数字化建设的时代背景，本文基于2010-2021年上市企业样本数据，探究银行数字化转型对企业绿色创新的影响及其作用机制。研究发现，银行数字化转型能够提升企业绿色创新的整体水平与战略属性，但对企业实质性绿色创新并无显著影响。机制分析表明，银行数字化转型可通过抑制企业金融化、缓解企业融资约束两大路径促进企业绿色创新。政府环境规制与媒体关注对银行数字化转型与企业绿色创新的关系具有正向调节作用，即政府环境规制强度提升、媒体关注程度加深，均会强化银行数字化转型对企业绿色创新的促进效应。异质性分析结果显示，银行数字化转型对企业绿色创新的促进效应在国有企业、重污染企业、大规模企业以及东部地区企业中更为显著。由此可见，银行数字化转型能够为企业绿色创新赋能，助力企业绿色发展，引领经济高质量发展。同时，本研究结果亦表明，企业绿色发展不应流于表面，而应追求实质内涵。