数字金融对制造业企业绿色创新效率的影响研究OA

As the core of the real economy,the manufacturing sector's green innovation efficiency is crucial for achieving the'dual carbon'goals and high-quality development.Focusing on manufacturing listed companies in the Shanghai and Shenzhen A-share markets from 2013 to 2023,this study integrates the Digital Inclusive Finance Index released by Peking University with firm-level data,uses the super-efficiency SBM method to quantify green in-novation efficiency,and employs a fixed effects model to explore the impact and mechanisms of digital finance.The results show that the development of digital finance significantly improves the green innovation efficiency of manufac-turing enterprises,with alleviating financing constraints and promoting digital transformation being its core transmis-sion paths.The enhancement effect is more pronounced in large enterprises,technology-intensive enterprises,and en-terprises in the eastern region.From the perspective of green innovation efficiency,this study reveals the intrinsic mechanism by which digital finance supports the operation of the real economy,providing a basis for improving green innovation efficiency in manufacturing enterprises,and optimizing China's digital finance policy design.