技术与创新管理2026，Vol.47Issue(2)：202-213,12.DOI:10.14090/j.cnki.jscx.2026.0208
业财融合对企业可持续发展绩效的影响
The Impact of Business and financial information integration(BFII)on Corporate Sustainable Development Performance
摘要
Abstract
This study aims to explore the impact of Business and financial information integration(BFII)on corporate sustainable development performance and its internal mechanisms.This study a-dopts the text analysis method to construct a BFII indicator.Based on"firm-year"observation data of China's A-share listed companies from 2014 to 2023,empirical tests are conducted using the fixed-effects model,instrumental variable method,propensity score matching,and mediating effect model.The results show that BFII can significantly improve corporate sustainable development performance,and this conclusion remains valid after a series of robustness tests,such as the instrumental variable meth-od.Mechanism tests indicate that BFII exerts its role through three pathways:improving operational effi-ciency,enhancing the effectiveness of internal control,and reducing information asymmetry;among these pathways,internal control plays a full mediating role,while operational efficiency and information asymmetry play partial mediating roles.Heterogeneity analysis reveals that this effect is more significant in larger enterprises,enterprises with weaker management capabilities,enterprises facing lower finan-cing constraints,as well as in the manufacturing industry and highly competitive industries.The study shows that business-finance integration is not only a management tool to improve operational efficiency and governance level,but also an important path to promote the coordinated development of economic and environmental performance.关键词
业财融合/可持续发展绩效/内部控制/信息不对称/运营效率Key words
business and financial information integration/sustainable development performance/inter-nal control/information asymmetry/operational efficiency分类
资源环境引用本文复制引用
徐鹿,武文珺,孙源尘,刘晓彤..业财融合对企业可持续发展绩效的影响[J].技术与创新管理,2026,47(2):202-213,12.基金项目
黑龙江省哲学社会科学研究规划项目(24GLH005) （24GLH005）
2021年哈尔滨商业大学教师"创新"项目支持计划项目(XW0052) （XW0052）
