技术经济与管理研究

企业绿色生产力契合新发展理念，是绿色劳动者、绿色劳动对象、绿色劳动资料组合跃升的结果，有助于降低生态负荷、减少碳排放。选取2012—2023年我国A股上市公司数据，实证分析数字普惠金融对企业绿色生产力的影响及ESG表现在二者关系中的作用机理。研究发现：数字普惠金融对企业绿色生产力具有正向赋能作用。异质性检验表明，数字普惠金融对企业绿色生产力的驱动效应在数字化转型程度低企业和非国有企业中更显著。机制检验表明，数字普惠金融可通过优化ESG表现，推动企业绿色生产力培育。门槛效应检验表明，数字普惠金融对企业绿色生产力的培育具有双重门槛效应，即随着数字普惠金融水平跨过不同门槛值，数字普惠金融对企业绿色生产力的影响呈现边际递增态势。据此，提出推进数字普惠金融高质量发展、全方位打造先进ESG管理模式、因企制宜提升绿色生产力水平的政策建议，希冀加快培育企业绿色生产力。

The green productivity of enterprises is in line with the new development concept. It is the result of the leap in the combination of green workers,green labor objects and green labor materials,which is conducive to reducing the ecological load and carbon emissions.Based on the data of China's A-share listed companies from 2012 to 2023,this paper empirically analyzes the impact of digital inclusive finance on green productivity of enterprises and the mechanism of ESG performance in the relationship between the two. The research finds that digital inclusive finance has a positive enabling effect on green productivity of enterprises. The results of heterogeneity test show that the driving effect of digital inclusive finance on green productivity of enterprises is more obvious in enterprises with a low degree of digital transformation and non-state-owned enterprises. The mechanism test results show that digital inclusive finance can promote the cultivation of green productivity of enterprises by optimizing ESG performance. The threshold effect test shows that digital inclusive finance has a double threshold effect on the cultivation of green productivity of enterprises. That is,as the level of digital inclusive finance crosses different thresholds,the impact of digital inclusive finance on the green productivity of enterprises shows a marginal increasing trend. Based on this,this paper puts forward policy suggestions to promote the high-quality development of digital inclusive finance,build an advanced ESG management model in an all-round way,and improve the level of green productivity according to enterprises,hoping to accelerate the cultivation of green productivity of enterprises.