能源企业的数字化转型关乎经济结构的转型升级与绿色创新.本文基于 2007-2021 年A股上市能源企业面板数据,利用企业年报文本分析方法刻画数字化转型强度,并从企业数字化转型的两个方面即生产过程数字化转型和商业模式数字化转型,分别考察其对能源企业绿色创新的影响及渠道机制.实证结果表明,无论是整体层面还是生产过程和商业模式层面,数字化转型都能显著提升能源企业绿色创新水平,且生产过程数字化转型对绿色创新的影响强度明显高于商业模式数字化转型.在影响机制方面,数字化转型通过降低运营成本、缓解融资约束、强化社会监督,进而增强能源企业绿色创新.数字化转型对国有能源企业、新能源企业以及成熟型能源企业绿色创新的促进作用得到更充分的释放.因此,要营造数字化转型良好生态,畅通数字化转型信息传导机制,在转型政策制定和实施中注重精细化和差异化.
Digital transformation of energy companies is related to the transformation and upgrading of economic structure and green innovation.Based on the panel data of A-share listed energy enterprises from 2007 to 2021,this paper depicts the intensity of digital transformation by using the text analysis method of enterprise annual report,and examine the impact and channel mechanisms of digital transformation on green innovation of energy enterprises from two aspects,namely,digital transformation of productive process and digital transformation of business model.The empirical results show that digital transformation can significantly improve the green innovation level of energy enterprises,whether it is the overall level or the level of production process and business model,and the impact of digital transformation of production process on green innovation is significantly higher than that of digital transformation of business model.In terms of impact mechanism,digital transformation enhances green innovation of energy enterprises by reducing operating costs,easing financing constraints,and strengthening social supervision.The role of digital transformation in promoting green innovation in state-owned energy enterprises,new energy enterprises and mature energy enterprises has been more fully released.Therefore,it is necessary to create a good ecology for digital transformation,smooth the transmission mechanism of digital transformation information,and pay attention to refinement and differentiation in the formulation and implementation of transformation policies.