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Does digital transformation empower green innovation? Evidence from listed companies in heavily polluting industries in China

Author

Listed:
  • Zhang, Wenqiu
  • Zhao, Junli
  • Li, Hao
  • Chen, Shuilin

Abstract

We investigate the impact of digital transformation on green innovation based on the data from listed companies in heavily polluting industries in China from 2010 to 2020. Our findings reveal that under the joint action of crowding-out and synergistic effects, digital transformation has a U-shaped impact on green innovation. The results withstand multiple robustness checks. The heterogeneity test shows that the digital transformation of companies in the mature stage can better promote green innovation. Our results supplement the literature on digital transformation and green innovation, and provide theoretical implications for corporate sustainability.

Suggested Citation

  • Zhang, Wenqiu & Zhao, Junli & Li, Hao & Chen, Shuilin, 2024. "Does digital transformation empower green innovation? Evidence from listed companies in heavily polluting industries in China," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324007153
    DOI: 10.1016/j.frl.2024.105685
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    Keywords

    Digital transformation; Green innovation; U-Shaped; Firm life cycle; Sustainable development;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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