Wang Yingdong, Li Qingbo
School of Finance, Zhongnan University of Economics and Law, Wuhan, China.
PLoS One. 2024 Dec 30;19(12):e0316337. doi: 10.1371/journal.pone.0316337. eCollection 2024.
Green development is related to the long-term sustainable development of enterprises, but there is little literature on the impact of information and communication technology (ICT) investment on green development of enterprises. To fill this gap, based on the sample of A-share high-polluting industry enterprises in China's Shanghai and Shenzhen stock markets from 2007 to 2019, this paper uses the dynamic panel threshold model to deeply study the non-linear impact of ICT investment on green development. This paper found that: (1) there is a threshold effect on the impact of ICT investment on green development of enterprises in high-polluting industries, and when ICT investment breaks through the threshold value, it can promote green development. This conclusion remains robust after the estimation of Multi-period DID model and instrumental variable; (2) ICT investment mainly promotes green development of enterprises by improving production efficiency and promoting green technology innovation; (3) ICT investment has a significant impact on green development of enterprises with higher management level, heavy industrial enterprises and non-state-owned enterprises, but has no significant impact on green development of enterprises with lower management level, light industrial enterprises and state-owned enterprises. And digital technology investment has a stronger role in promoting green development than traditional ICT investment. This paper proposes that enterprises in high-pollution industries can increase ICT investment to promote green development.
绿色发展关乎企业的长期可持续发展，但关于信息通信技术（ICT）投资对企业绿色发展影响的文献较少。为填补这一空白，本文以2007年至2019年中国沪深股市A股高污染行业企业为样本，运用动态面板门槛模型深入研究ICT投资对绿色发展的非线性影响。研究发现：（1）ICT投资对高污染行业企业绿色发展的影响存在门槛效应，当ICT投资突破门槛值时，能促进绿色发展。经过多期双重差分模型和工具变量估计后，该结论依然稳健；（2）ICT投资主要通过提高生产效率和促进绿色技术创新来推动企业绿色发展；（3）ICT投资对管理水平较高的企业、重工业企业和非国有企业的绿色发展有显著影响，但对管理水平较低的企业、轻工业企业和国有企业的绿色发展无显著影响。并且数字技术投资在促进绿色发展方面比传统ICT投资作用更强。本文建议高污染行业企业可增加ICT投资以促进绿色发展。
