公司治理与内部控制协调对企业双化协同的影响研究
A Study on the Impact of Corporate Governance and Internal Control Coordination on Dual Transformation Synergy
代军 1杨寓婷1
作者信息
- 1. 武汉科技大学管理学院，武汉 430065
- 折叠
摘要
在加快推进数字化绿色化协同发展的战略背景下，公司治理与内部控制的协调运行，与双化协同对战略统筹、风险管控和资源保障的要求相契合。二者协调能够弥补单一制度的功能边界，成为促进企业双化协同的重要制度支撑。基于2015-2024年我国A股上市公司数据，采用文本分析和耦合协调模型测算企业双化协同水平，构建固定效应模型和中介效应模型进行实证检验。结果表明，公司治理和内部控制均能显著促进企业双化协同，且二者协调效应强于单一制度，并通过提升企业风险承担水平和缓解融资约束双路径促进双化协同，同时双化协同还能够显著提升企业全要素生产率和ESG表现。异质性分析发现，相较于非东部地区、非国有企业和低竞争性行业，上述促进作用在东部地区、国有企业和高竞争性行业更加明显。基于此，提出以下对策建议：企业应加强公司治理与内部控制协同建设，完善风险管理和资金保障机制，政府应强化资源支持和分类引导，共同推动企业双化协同。研究结论为优化企业内部制度协同、推进数字化绿色化协同发展提供了依据。
Abstract
Against the strategic background of advancing the coordinated development of digitalization and green transformation, the coordinated operation of corporate governance and internal control is well aligned with the needs of digital-green synergy for strategic coordination, risk management, and resource support. Such coordination can overcome the functional limitations of either system operating alone and provide important institutional support for firms to advance digital-green synergy. Based on data from Chinese A-share listed companies from 2015 to 2024, this study measures firms\' digital-green synergy using text analysis and a coupling coordination model, and conducts empirical tests using fixed-effects and mediation models. The results show that both corporate governance and internal control significantly promote digital-green synergy, while their coordinated effect is stronger than that of either system alone; this effect operates through two channels, namely increasing firms\' risk-taking and alleviating financing constraints, and digital-green synergy further significantly improves total factor productivity and ESG performance. Heterogeneity analysis shows that the promoting effect is more pronounced in eastern regions, state-owned enterprises, and highly competitive industries than in non-eastern regions, non-state-owned enterprises, and less competitive industries. Accordingly, firms should strengthen the coordination between corporate governance and internal control and improve risk management and financial support, while governments should enhance resource support and differentiated policy guidance to jointly promote firms\' digital-green synergy. The findings provide empirical evidence for optimizing the coordination of internal corporate institutions and advancing the coordinated development of digitalization and green transformation.关键词
公司治理/内部控制/耦合协调/数字化绿色化协同发展Key words
corporate governance/internal control/coupling coordination/digital-green synergy引用本文复制引用
代军,杨寓婷.公司治理与内部控制协调对企业双化协同的影响研究[EB/OL].(2026-10-08)[2026-10-09].http://www.paper.edu.cn/releasepaper/content/202610-3.学科分类
经济计划、经济管理
