The green promotion back to digitization: Research on air quality, urban green coverage and digital innovation

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE International Review of Financial Analysis Pub Date : 2024-09-22 DOI:10.1016/j.irfa.2024.103601

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Abstract

We examine the relationship between air quality, urban green coverage, and the digital innovation of companies in this paper. Using a sample of Chinese A-share listed companies spanning from 2006 to 2016, we discover a positive effect of air quality on companies' digital innovation. Furthermore, urban green coverage enhances this positive relationship through the environmental effect and signaling effect. In mechanism analysis, we find that improved air quality correlates with digital investment attraction, digital human resource immigration, and digital R&D efficiency enhancement channels, subsequently contributing to the advancement of digital innovations among companies. The positive impact of air quality on digital innovation is particularly pronounced in non-state-owned enterprises and under stricter government air policy regulations. Additionally, our study shows that while air quality significantly boosts total innovation by enhancing digital innovation, it has a minimal effect on non-digital innovation. Our findings underscore the importance of paying attention to air quality and promoting green environmental initiatives in the digital era.

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绿色推广回归数字化：空气质量、城市绿化覆盖率和数字化创新研究

本文研究了空气质量、城市绿化覆盖率与企业数字化创新之间的关系。以 2006 年至 2016 年的中国 A 股上市公司为样本，我们发现空气质量对企业的数字化创新有正向影响。此外，城市绿化覆盖率通过环境效应和信号效应增强了这种正向关系。在机理分析中，我们发现空气质量的改善与数字投资吸引、数字人力资源移民和数字研发效率提升渠道相关，进而促进了企业数字创新的进步。空气质量对数字创新的积极影响在非国有企业和政府更严格的空气政策法规下尤为明显。此外，我们的研究还表明，虽然空气质量通过提高数字创新显著促进了总体创新，但它对非数字创新的影响却微乎其微。我们的研究结果凸显了在数字时代关注空气质量和推广绿色环保举措的重要性。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.