智能制造与企业绿色转型

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2024-11-17 DOI:10.1016/j.irfa.2024.103796

Xiaotong Cai , Peiyan Lin , Rui Wang

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引用次数: 0

摘要

智能制造技术的快速发展为企业的环境可持续发展带来了机遇和挑战。尽管这些技术的进步有可能提高效率并减少对环境的影响，但它们对企业绿色转型的实际影响仍未得到充分研究，尤其是在中国市场。因此，本研究通过关注融资约束和知识多样化的中介作用来填补这一空白。我们利用 2007 年至 2022 年间中国 A 股上市公司 18,390 个公司年度观察的综合数据集，采用固定效应回归模型和中介分析来研究这些关系。我们的研究结果表明，智能制造对绿色转型具有显著的积极影响，而融资约束的减少和知识多样化的增加在一定程度上起到了中介作用。此外，我们还发现了不同企业生命周期阶段和所有制结构之间的重要异质性，成熟企业和国有企业在绿色转型过程中从智能制造中获益更多。这些结果为可持续工业 4.0 方面不断增长的文献做出了贡献，并为寻求利用技术进步促进环境可持续发展的政策制定者和企业领导者提供了有价值的见解。

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Intelligent manufacturing and corporate green transformation

The rapid evolution of intelligent manufacturing technologies presents opportunities and challenges for corporate environmental sustainability. Although these advancements offer potentially improved efficiency and reduced environmental impact, their actual effect on firms' green transformation remains understudied, particularly in the Chinese market. Hence, this research fills this gap by focusing on the mediating roles of financing constraints and knowledge diversification. Utilizing a comprehensive dataset of 18,390 firm-year observations from Chinese A-share listed companies between 2007 and 2022, we employ fixed-effects regression models and mediation analyses to examine these relationships. Our findings reveal a notable positive impact of intelligent manufacturing on green transformation, partially mediated by reduced financing constraints and increased knowledge diversification. Furthermore, we uncover important heterogeneities across firm lifecycle stages and ownership structures, with mature firms and state-owned enterprises benefiting more from intelligent manufacturing in their green transformation efforts. These results contribute to the growing literature on sustainable Industry 4.0 and offer valuable insights for policymakers and corporate leaders seeking to leverage technological advancements for environmental sustainability.

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.