绿色创新的供应链纵向传导效应研究——约束还是溢出

Vertical Transmission Effects of Green Innovation in Supply Chains:Constraint or Spillover

摘要:

产业链协同绿色转型已成为实现“双碳”目标的重要驱动力。既有研究多聚焦于绿色创新的行业内横向扩散，对绿色创新在供应链中的纵向传导机制关注不足，且未充分区分约束机制与溢出机制在传导过程中的差异化作用。本文基于纵向交易关系视角，以2013—2024年中国A股上市公司为样本，实证检验绿色创新在供应链中的传导效应及其边界条件。研究发现：焦点企业绿色创新水平的提高会显著促进上游供应商的绿色创新水平，但对下游客户的绿色创新水平未产生显著影响；调节效应分析表明，焦点企业纵向市场势力的增强显著强化了上述后向传导效应。机制分析发现，焦点企业绿色创新能够通过提高供应商绿色投资促进上游供应商的绿色创新水平。异质性分析表明，焦点企业绿色创新对供应商绿色实质创新和绿色策略创新均具有显著促进作用；同时，在供应商数字化水平高、供应商依赖程度高、地理距离近及焦点企业ESG表现好的情境下，后向传导效应更为显著。本文不仅揭示了绿色创新沿供应链纵向传导的内在逻辑，也为推动产业链协同绿色转型提供了经验证据。

Abstract:

Collaborative green transformation across industrial chains has become an important driver for the achievement of the dual-carbon goals. Existing research has mainly been focused on the horizontal diffusion of green innovation within industries. Insufficient attention has been paid to the vertical transmission mechanism of green innovation along supply chains. The different roles of constraint and spillover mechanisms in this process have also not been fully distinguished. From the perspective of vertical trading relationships, Chinese A-share listed firms from 2013 to 2024 are selected as the sample. The transmission effects of green innovation in supply chains and their boundary conditions are empirically examined. It is found that an increase in the green innovation level of focal firms significantly promotes green innovation among upstream suppliers. No significant effect is found on green innovation among downstream customers. Further analysis shows that the backward transmission effect is significantly strengthened by stronger vertical market power of focal firms. Mechanism analysis indicates that upstream suppliers’ green innovation is mainly promoted through increased green investment by suppliers. Heterogeneity analysis shows that both substantive green innovation and strategic green innovation among suppliers are significantly promoted by focal firms’ green innovation. The backward transmission effect is also found to be more pronounced when suppliers have higher levels of digitalization, stronger dependence on focal firms, and shorter geographic distance from focal firms, and when focal firms exhibit better ESG performance. The internal logic of the vertical transmission of green innovation along supply chains is thus revealed. Empirical evidence is also provided for the coordinated green transformation of industrial chains.