摘要
随着全球气候问题日益严峻,各国纷纷出台相关政策以促进可持续发展,这些政策的频繁调整给企业运营带来了新的挑战。在此背景下,数字化转型作为企业发展的关键战略,也不可避免地受到气候政策不确定性的影响。本文以2007—2022年中国上市企业为研究样本,检验气候政策不确定性对企业数字化转型的影响。研究结果表明,气候政策不确定性对企业数字化转型具有正向影响,该结果在替换子指标、自变量滞后、替换被解释变量以及剔除特殊年份后仍然稳健。进一步的分析发现,气候政策不确定性的持续攀升通过降低供应链韧性、促进绿色创新以及增加企业风险承担水平的机制,增强了企业数字化转型的意愿;并且对于东部地区、第二产业、高科技发展水平以及高碳排放行业的企业,气候政策不确定性对企业数字化转型的促进作用更大。研究不仅丰富了气候政策不确定性与企业数字化转型关系的理论探讨,还为政策制定者设计气候治理框架以及推进数字化战略提供了重要的理论依据和实践指导。
As global climate issues become increasingly serious,countries around the world are introducing policies to promote sustainable development.The frequent adjustments to these policies pose new challenges for business operations.In this context,digital transformation,as a key strategy for corporate development,is also inevitably affected by climate policy uncertainty.This paper uses Chinese listed companies from 2007 to 2022 as the research sample to examine the impact of climate policy uncertainty on corporate digital transformation.The results indicate that climate policy uncertainty has a positive impact on corporate digital transformation.This result remains robust after replacing sub-indicators,lagging independent variables,replacing explanatory variables,and excluding special years.Further analysis found that the continued rise in climate policy uncertainty has strengthened companies'willingness to undergo digital transformation through mechanisms that reduce supply chain resilience,promote green innovation,and increase companies'risk tolerance levels;furthermore,climate policy uncertainty has a greater promotional effect on the digital transformation of enterprises in eastern regions,the secondary industry,high-tech development levels,and high-carbon emission industries.The study not only enriches the theoretical discussion on the relationship between climate policy uncertainty and corporate digital transformation,but also provides important theoretical basis and practical guidance for policymakers in designing climate governance frameworks and advancing digital strategies.
作者
李哲
马影
易志高
Li Zhe;Ma Ying;Yi Zhigao(School of Business,Nanjing Normal University,Nanjing 210023,Jiangsu,China)
出处
《金融发展研究》
北大核心
2025年第7期3-14,共12页
Journal Of Financial Development Research
基金
国家社会科学基金重点项目“企业数据资产信息披露行为选择、经济后果与对策研究”(24AJY034)
江苏省社会科学基金一般项目“数据要素赋能新质生产力下江苏省数据交易市场体系构建与价值实现路径研究”(24ZHB008)。
关键词
气候政策不确定性
数字化转型
供应链韧性
绿色创新
风险承担
Words:climate policy uncertainty
digital transformation
supply chain resilience
green innovation
risk-taking
