How does corporate digital transformation affect green innovation? Evidence from China's enterprise data

IF 14.2 2区经济学 Q1 ECONOMICS Energy Economics Pub Date : 2025-02-01 Epub Date: 2025-01-13 DOI:10.1016/j.eneco.2025.108217

Jian Zhang , Chin-Hsien Yu , Jinsong Zhao , Chi-Chuan Lee

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Abstract

Considering that corporate digital transformation plays a crucial role in promoting the sustainable growth of enterprises, the impact of this technological evolution on green innovation warrants additional investigation. Using firm-level data from China for the 2011–2020 period, our study demonstrates the influence of digital transformation on corporate green innovation. Our findings show that environmental information, when gathered through digital technologies, can guide firms in their green innovation efforts and assist in securing financial resources. Heterogeneity analysis suggests that in areas with stricter environmental regulations and non-high-tech firms, digital transformation exhibits a more pronounced ability to bolster green innovative capacity. Evidence also reveals the interplay between digital transformation and investors' green attention, indicating a notable positive influence on corporate green innovation. These insights provide valuable implications for both governments and corporations on how digital transformation can be harnessed to advance green innovation and achieve balanced sustainable development in both the economic and environmental dimensions.

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企业数字化转型如何影响绿色创新？来自中国企业数据的证据

考虑到企业数字化转型对于促进企业的可持续增长起着至关重要的作用，这种技术演变对绿色创新的影响值得进一步研究。本文利用2011-2020年中国企业层面的数据，论证了数字化转型对企业绿色创新的影响。我们的研究结果表明，通过数字技术收集的环境信息可以指导企业的绿色创新努力，并有助于获得财务资源。异质性分析表明，在环境法规较为严格的地区和非高科技企业中，数字化转型对绿色创新能力的促进作用更为明显。数据还揭示了数字化转型与投资者绿色关注之间的相互作用，对企业绿色创新具有显著的正向影响。这些见解为政府和企业如何利用数字化转型推进绿色创新、实现经济和环境平衡可持续发展提供了有价值的启示。

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.