数绿技术融合、资产结构错配与企业高质量发展——知识组合能力的调节作用

摘要/Abstract

摘要： 数字技术与绿色技术的融合能够驱动企业优化资源配置，对企业实现高质量发展具有重要作用。本文利用发明专利信息，对企业数绿技术融合行为进行测度，并以新兴产业A股上市公司为样本，研究数绿技术融合对企业高质量发展的影响及其作用机制。研究发现，企业数绿技术融合宽度、深度分别对企业高质量发展产生正向影响和正U型影响，并且以上结论在经过稳健性检验后依然成立。机制分析表明，数绿技术融合宽度和深度能够通过改善资产结构错配，从而促进企业高质量发展。知识组合能力仅正向调节融合宽度与企业高质量发展之间的关系。异质性分析表明，数绿技术融合宽度对企业高质量发展的影响显著性表现出“东部>中部>西部”的异质性格局，且在非国有企业样本中表现出更为显著的正向影响，而数绿技术融合深度仅在东部企业样本和非国有企业样本中呈现显著的U型影响。本文的研究结论能够丰富和拓展数绿技术融合的相关理论，为企业推进数绿技术融合、推动高质量发展提供了实践支撑和政策启示。

关键词: 数绿技术融合, 资产结构错配, 高质量发展, 知识组合能力

Abstract: The integration of digital technology and green technology can drive enterprises to optimize resource allocation and play an important role in achieving high-quality development. This research uses invention patent information to measure the digital and green technology integration behavior of enterprises, and takes A-share listed companies in emerging industries as samples to study the impact of digital and green technology integration on the high-quality development of enterprises and its mechanism. The study finds that the width and depth of the digital and green technology integration of enterprises have a positive impact and a positive U-shaped impact on the high-quality development of enterprises respectively, and the above conclusions are still valid after the robustness test. The mechanism analysis shows that the width and depth of digital and green technology integration can promote the high-quality development of enterprises by improving the mismatch of asset structure. Knowledge combination ability only positively moderates the relationship between the breadth of integration and the high-quality development of enterprises. The heterogeneity analysis shows that the significance of the impact of the width of digital and green technology integration on the high-quality development of enterprises shows a heterogeneity pattern of “eastern region>central region>western region,” and shows a more significant positive impact in the samples of non-state-owned enterprises, while the depth of digital and green technology integration only shows a significant U-shaped impact in the samples of eastern enterprises and non-state-owned enterprises. The research conclusions of this paper can enrich and expand the relevant theories of digital and green technology convergence, and provide practical support and policy enlightenment for China’s enterprises to promote the convergence of digital and green technology and promote the high-quality development of enterprises.

Key words: digital and green technology convergence, asset structure mismatch, high-quality development, knowledge combination ability

李伟明, 曹霞, 张鑫. 数绿技术融合、资产结构错配与企业高质量发展——知识组合能力的调节作用[J]. 管理评论, 2025, 37(11): 54-66.

Li Weiming, Cao Xia, Zhang Xin. Digital Green Technological Convergence Asset Structure Mismatch and High-quality Development of Enterprises—Moderating Effect of Knowledge Combination Ability[J]. Management Review, 2025, 37(11): 54-66.

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