摘要：全球气候变化背景下，作为供应链中的关键环节，供应商企业绿色创新能力成为缓解气候风险、实现供应链绿色转型的重要途径。本文构建了基于上下游间纵向透明的供应链博弈模型，并利用2010—2023年沪深A股上市公司数据，通过识别上下游企业链条信息，系统分析了企业气候风险感知对供应商企业绿色创新的影响及其机制。研究发现，企业气候风险感知能够有效激励供应商企业绿色创新，即存在“供应链溢出效应”。其关键机制在于，企业为应对气候风险而提升企业绿色偏好，进而对供应商企业绿色创新产生正向影响，且在企业气候风险感知水平一定的情况下，供应链透明度越高，供应商企业绿色创新响应越强。同时，企业气候风险感知还可以通过缓解供应商企业的融资约束，进而促进其绿色创新。进一步分析表明，当供应商企业管理层气候风险感知较强、持股比例较高时，企业气候风险感知对供应商企业绿色创新的影响更加显著。基于研究结论，本文提出企业应建立透明的供应链管理体系，与供应商共享气候风险信息，提高供应链整体对气候变化的适应性和韧性。
关键词：气候风险感知；绿色创新；供应链溢出；绿色偏好；供应链透明度
Enterprise Climate Risk Perception and Green Innovation: The Role of Supply Chain Spillovers
Zhang Yingtian, Chen Xianhao, Zhang Jun
Abstract: In the context of global climate change, the green innovation capability of supplier enterprises—as a key link in the supply chain—has become a crucial means of mitigating climate risks and promoting the green transformation of supply chains. This article constructs a supply chain game model based on vertical transparency between upstream and downstream enterprises and utilizes data from A-share listed companies in Shanghai and Shenzhen from 2010 to 2023. It systematically analyzes the impacts and mechanisms of corporate climate risk perception on suppliers’ green innovation by mapping upstream and downstream enterprise relationships. The research finds that corporate climate risk perception can effectively incentivize green innovation among supplier companies, indicating the existence of “supply chain spillover effects.” The key mechanism is that firms enhance their green preferences in response to climate risks, which in turn positively influences suppliers’ green innovation. Moreover, at a given level of climate risk, the greater the transparency of the supply chain, the stronger the suppliers’ green innovation response. Corporate climate risk perception can also promote green innovation by easing the financing constraints faced by supplier firms. Further analysis shows that when supplier company management demonstrates a strong awareness of climate risk and holds a high ownership stake, the impact of climate risk perception on suppliers’ green innovation is more pronounced. Based on these findings, this article recommends that enterprises establish transparent supply chain management systems, share climate risk information with suppliers, and enhance the overall adaptability and resilience of supply chains in the face of climate change.
Keywords: Climate RiskPerception; Green Innovation; Supply Chain Overflow; Green Preference; Supply Chain Transparency
