Catalytic role of the digital economy in fostering corporate green technology innovation: a mechanism for sustainability transformation in China

Abstract

The digital economy is a novel catalyst for economic growth and sustainable development, representing an emerging trend in economic development. This study investigates the impact of the digital economy on green technology innovation within Chinese listed companies between 2009 and 2022. The empirical studies indicate the digital economy significantly promotes green technology innovation in corporations, especially in non-state-owned, large-sized, and mid-western companies. The analysis of the influence mechanism reveals that the digital economy has a substantial impact on the advancement of green technology innovation. This is achieved through alleviating financing constraints, promoting human capital agglomeration, and improving resource allocation efficiency. This research provides decision-making references for promoting green development and resolving the paradox of imbalanced and insufficient growth among companies with various ownership structures, total asset sizes, and regions.