摘要：党中央高度重视实体经济和数字经济深度融合，二十届四中全会提出了促进制造业、服务业数智化转型，推进传统基础设施更新和数智化改造等重点任务。中小企业是国民经济发展的毛细血管，也是数字经济落地转型的重要主体，而资金短缺长期成为阻碍其数字化转型的难题。中小企业规模小、市场话语权弱，账款拖欠问题严重，特别是政府欠款会直接挤占企业流动资金，加剧流动性压力。2018年施行的《中小企业促进法》从立法层面明确规定政府及其部门、事业单位不得违约拖欠中小企业款项。本文以此为切入点，探究政府欠款立法治理对中小企业数字化转型的赋能效应。本文基于手工整理的2013—2022年新三板挂牌企业供应链数据，实证分析政府清欠立法对中小企业数字化转型的影响。研究表明，法治化清欠政策实施后，存在政府欠款的中小企业数字化转型水平显著提升，且政策效应随欠款规模扩大而增强。异质性分析显示，该政策在转型意愿较强、区域金融发展水平较低的企业中效果更突出。机制检验表明，清欠立法可盘活企业滞留资金、缓解融资约束，为企业数字化改造提供稳定资金保障。本文的研究具有如下重要实践内涵:政策层面，地方政府需依托数字治理搭建常态化清欠机制，统筹财政运行与营商环境建设，以法治化清欠稳定企业经营预期，将制度优势转化为企业数字化转型内生动力;企业层面，中小企业应紧抓政策利好，依托资金条件改善加快数字化布局。同时，财政与国资监管部门可依托清欠工作疏通供应链资金流转，发挥国企链主引领作用，搭建产业链数字化协同发展体系，推动账款治理从短期纾困转向长效链式治理，从根本上破解中小企业供应链弱势困境，全面激活中小企业数字化转型活力。

Abstract: This study leverages a quasi-natural experiment created by the revision of the Promotion Law for Small and Medium Enterprises and utilizes data from firms listed on the NEEQ from 2013 to 2022 to explore the impact and mechanisms of legislative oversight on government arrears governance on the digital transformation of SMEs. Our findings indicate that after the Promotion Law for Small and Medium Enterprises introduced stricter regulations on government payment of accounts, the pace of digital transformation significantly accelerated for SMEs with government arrears compared to those without such arrears. Moreover,this effect is more pronounced in enterprises that face greater cost-adjustment pressures—thereby exhibiting a stronger willingness to undertake digital transformation—and in those located in regions with less developed financial systems. Mechanism analysis indicates that the primary driver of this phenomenon lies in the alleviation of financing constraints resulting from a decline in trade credit supply,which enables small and medium-sized enterprises to allocate resources more flexibly for digital transformation. The findings of this study offer meaningful insights into understanding how the advancement of the rule of law can facilitate the high-quality development of the digital economy.