Analysis of the Impact and Mechanism of Financial Technology Levels on Green Productivity

This paper selects the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2023, and explores the impact and mechanism of enterprise financial technology level on green productivity based on the perspective of green technology innovation. It was found that improving enterprise financial technology levels significantly promotes enterprise green technology innovation, and this conclusion is still based on the discussion of endogeneity issues and a series of robustness tests. In terms of the mechanism of action, the increase in the level of enterprise financial technology increases the investment in scientific and technological innovation, which in turn effectively promotes the green technological innovation of enterprises. At the same time, the strengthening of market competition in the industry further enhances the green innovation effect. Heterogeneity analysis reveals that both the property rights and the industry have a significant impact on the improvement of the financial technology level to promote enterprise green technology innovation. This paper reveals the key role of financial technology in enterprise innovation strategy. It provides empirical evidence for the promotion of financial technology innovation and the optimization of green productivity development path.