城市协同创新、资本跨区流动与供应链碳减排OA

As a critical link connecting production and consumption,the supply chain is a core area for achieving overall carbon emis‐sion reduction.However,there is widespread information asymmetry,a lack of collaborative mechanisms,and insufficient sharing of green technologies among upstream and downstream enterprises in the supply chain,which seriously affects China's overall carbon emission reduction effectiveness.How to promote effective communication and cooperation among enterprises at various stages of the supply chain to jointly advance carbon emission reduction has become a key research focus.Therefore,based on urban panel data and matched data of listed companies from 2012 to 2022,this study explored the impact mechanisms of urban collaborative innovation on supply chain carbon emission reduction from the perspective of cross-regional capital flows.The results showed that:① Urban collabor‐ative innovation not only helped core enterprises reduce carbon emissions but also positively influenced carbon emission reductions for upstream suppliers and downstream customers.This indicated that through close collaboration with upstream and downstream enterpris‐es,core enterprises could guide the entire supply chain toward low-carbon transformation and achieve broader environmental benefits.This conclusion remained valid after considering model endogeneity and other robustness checks.② Mechanism analysis revealed that urban collaborative innovation significantly promoted cross-regional capital flows,particularly capital flows among cities within the same province.Such cross-regional capital flows enhanced the synergies of industrial chains and supply chains within urban agglomera‐tions,helped optimize resource allocation and improve utilization efficiency,and reduced resource waste and carbon emissions.③ This study also found that enterprises with higher market concentration and larger scale had stronger capabilities in resource allocation and technological innovation and could better utilize the opportunities brought by urban collaborative innovation to optimize their produc‐tion processes and benefit more from the carbon emission reduction effects of the supply chain.In addition,environmental governance policies and the construction of a unified market could work in synergy with collaborative innovation networks to effectively advance supply chain carbon emission reduction.This study provides useful policy implications for enhancing the modernization level of the in‐dustrial chain and accelerating the realization of China's"dual carbon"goals.