Digital Finance, New Quality Productivity, and Corporate Carbon Emission Intensity

数字金融作为一种新兴金融形态，为实现“双碳”目标发挥了重要作用。文章采用2011~2022年中国上市企业的面板数据，实证研究了数字金融对企业碳排放强度的影响，并从企业新质生产力的新视角展开多角度的机制分析。实证分析发现：数字金融能显著地降低企业碳排放强度；异质性分析发现，数字金融对中小型企业、高新技术企业和非国有企业的影响更为显著；机制研究表明，数字金融能够通过提高企业新质生产力和绿色技术创新来促进企业碳排放强度的降低。本文研究为深化数字金融发展，提高企业新质生产力，促进企业碳排放强度的降低提供了参考。Digital inclusive finance, as an emerging form of finance, has played an important role in achieving the “dual carbon” goal. Using the panel data of Chinese listed companies from 2011 to 2022, this paper empirically studies the impact of digital Finance on corporate carbon emission intensity, and conducts a multi angle mechanism analysis from a new perspective of corporate new quality productivity. Empirical analysis has found that digital finance can significantly reduce the carbon emission intensity of enterprises; heterogeneity analysis found that digital finance has a more significant impact on small and medium-sized enterprises, high-tech enterprises, and non-state-owned enterprises; mechanism research shows that digital finance can promote the reduction of carbon emission intensity in enterprises by improving their new quality productivity and green technology innovation. This study provides a reference for deepening the development of digital finance, improving the productivity of new quality enterprises, and promoting the reduction of carbon emission intensity in enterprises.