摘要
以2011—2022年A股上市农机企业为研究对象,基于创新、协调、绿色、开放、共享等多维度构建高质量发展评价体系,采用双向固定效应模型和机制分析方法,实证检验数字金融对农机企业高质量发展的驱动效应及其异质性特征。结果表明,数字金融发展水平每提升1%,上市农机企业高质量发展指数显著增长0.369%,且在剔除特殊样本、替换市级指标及工具变量法检验后结果保持稳健;作用机制显示,数字金融通过缓解融资约束和促进技术创新两条路径促进上市农机企业高质量发展;异质性分析表明,数字金融对民企的促进效应显著优于国企,对非数字经济一线城市企业的提升效果显著优于数字经济一线城市企业。研究结论为优化“农业+金融”政策的精准性提供了几点启示:在推动数字金融在各地均衡发展基础上,需加强传统金融机构数字化改造以降低“三农”领域交易摩擦;针对民营企业及欠发达区域需制定适配性的数字金融渗透方案;还要结合农机行业特殊性,构建多层次数字金融风险防控机制。
Taking A-share listed agricultural machinery enterprises from 2011 to 2022 as the research object,a high-quality develop⁃ment evaluation system based on innovation,coordination,green,openness,and sharing was constructed,and a two-way fixed effect model and mechanism analysis method were used to empirically test the driving effect of digital finance on the high-quality develop⁃ment of agricultural machinery enterprises and its heterogeneity.The results showed that for every 1%increase in the development lev⁃el of digital finance,the high-quality development index of listed agricultural machinery enterprises increased significantly by 0.369%,and the results remained robust after excluding special samples,replacing municipal indicators and instrumental variable methods;the mechanism of action showed that digital finance promoted the high-quality development of listed agricultural machinery enterprises by alleviating financing constraints and promoting technological innovation;heterogeneity analysis showed that the promo⁃tion effect of digital finance on private enterprises was significantly better than that of state-owned enterprises,and the promotion ef⁃fect of non-digital economy first-tier city enterprises was significantly better than that of digital finance first-tier city enterprises.The research conclusion provided several inspirations for optimizing the precision of the"agriculture+finance"policy:On the basis of pro⁃moting the balanced development of digital finance in various regions,it was necessary to strengthen the digital transformation of tradi⁃tional financial institutions to reduce transaction frictions in the"agriculture,rural areas and farmers"sector;the appropriate digital fi⁃nance penetration plans should be formulated for private enterprises and underdeveloped regions;in light of the particularity of the agri⁃cultural machinery industry,a multi-level digital finance risk prevention and control mechanism should be established.
作者
李平
赵玥
庞义章
LI Ping;ZHAO Yue;PANG Yi-zhang(Hubei Development Research Center of Agricultural Equipment Manufacturing Industry,Hubei University of Technology,Wuhan 430068,China)
出处
《湖北农业科学》
2025年第11期230-238,共9页
Hubei Agricultural Sciences
基金
湖北省社会科学基金前期资助项目(21ZD056)
武汉市知识创新专项基础研究项目(2023010201010120)。
关键词
数字金融
农机企业
高质量发展
异质性
digital finance
agricultural machinery enterprises
high-quality development
heterogeneity
