IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i19p11948-d922004.html
   My bibliography  Save this article

The Impact of the Digital Economy on Enterprise Sustainable Development and Its Spatial-Temporal Evolution: An Empirical Analysis Based on Urban Panel Data in China

Author

Listed:
  • Zhiqiang Zhou

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China)

  • Wenyan Liu

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China)

  • Pengfei Cheng

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China
    Hunan Engineering Research Center for Big Data and Intelligent Decision-Making in Industrial Development, Xiangtan 411201, China)

  • Zhenjin Li

    (School of Foreign Languages, Hunan University of Finance and Economics, Changsha 410205, China)

Abstract

The digital economy has been a great impetus to the sustainable development of enterprises. This study aims to analyze the impact and mechanism of the digital economy on the sustainable development of enterprises of the digital economy on the sustainable development of enterprises and its mechanism. Therefore, on the basis of measuring the level of urban digital economy and the level of sustainable development of enterprises, this study empirically analyzed the impact of the digital economy on enterprise sustainable development and its mechanism by using panel data of 280 A-share listed companies in cities from 2011 to 2019. The research shows that, first, the digital economy and sustainable development of enterprises have obvious spatial differentiation characteristics. Second, the digital economy can significantly promote the sustainable development of enterprises and play a role through regional innovation and entrepreneurship. In addition, compared with the midwest, the promotion effect of the east is more significant. At the provincial level, the promotion effect is better in the developed eastern provinces, such as Jiangsu, Zhejiang and Guangdong. The digital economy promotion effect is more obvious in the Yangtze River Delta, Beijing-Tianjin-Hebei, and other developed urban agglomerations in the east. Therefore, the government can accelerate the development of the digital economy, active regional innovation, and entrepreneurship activities so as to find a way to promote the sustainable development of enterprises.

Suggested Citation

  • Zhiqiang Zhou & Wenyan Liu & Pengfei Cheng & Zhenjin Li, 2022. "The Impact of the Digital Economy on Enterprise Sustainable Development and Its Spatial-Temporal Evolution: An Empirical Analysis Based on Urban Panel Data in China," Sustainability, MDPI, vol. 14(19), pages 1-23, September.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:19:p:11948-:d:922004
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/19/11948/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/14/19/11948/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. David Deming & Lisa B. Kahn, 2018. "Skill Requirements across Firms and Labor Markets: Evidence from Job Postings for Professionals," Journal of Labor Economics, University of Chicago Press, vol. 36(S1), pages 337-369.
    2. Daron Acemoglu & Pascual Restrepo, 2018. "The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment," American Economic Review, American Economic Association, vol. 108(6), pages 1488-1542, June.
    3. Yin, Zhichao & Gong, Xue & Guo, Peiyao & Wu, Tao, 2019. "What Drives Entrepreneurship in Digital Economy? Evidence from China," Economic Modelling, Elsevier, vol. 82(C), pages 66-73.
    4. Marco A. Palma & Alba J. Collart & Christopher J. Chammoun, 2015. "Information Asymmetry in Consumer Perceptions of Quality-Differentiated Food Products," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(3), pages 596-612, November.
    5. David Audretsch & Max Keilbach, 2005. "Entrepreneurship capital and regional growth," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 39(3), pages 457-469, September.
    6. Shrutika Mishra, 2018. "Financial management and forecasting using business intelligence and big data analytic tools," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 5(02), pages 1-16, June.
    7. Gail Whiteman & Brian Walker & Paolo Perego, 2013. "Planetary Boundaries: Ecological Foundations for Corporate Sustainability," Journal of Management Studies, Wiley Blackwell, vol. 50(2), pages 307-336, March.
    8. Chao Gao & Dequan Yao & Jiayu Fang & Zhengchu He, 2022. "Analysis of the Relationships between Financial Development and Sustainable Economic Growth: Evidence from Chinese Cities," Sustainability, MDPI, vol. 14(15), pages 1-15, July.
    9. Olley, G Steven & Pakes, Ariel, 1996. "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, Econometric Society, vol. 64(6), pages 1263-1297, November.
    10. Laura B. Cardinal, 2001. "Technological Innovation in the Pharmaceutical Industry: The Use of Organizational Control in Managing Research and Development," Organization Science, INFORMS, vol. 12(1), pages 19-36, February.
    11. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity," Econometrica, Econometric Society, vol. 50(6), pages 1393-1414, November.
    12. Andreas P. Cornett, 2009. "Aims and strategies in regional innovation and growth policy: A Danish perspective," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 21(4), pages 399-420, July.
    13. Zhang, Chuanchuan, 2020. "Clans, entrepreneurship, and development of the private sector in China," Journal of Comparative Economics, Elsevier, vol. 48(1), pages 100-123.
    14. Lisa Melander, 2017. "Achieving Sustainable Development by Collaborating in Green Product Innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 26(8), pages 1095-1109, December.
    15. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    16. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
    17. Ji Guo & Hui Liu & Xianhua Wu & Jiong Gu & Shunfeng Song & Yinshan Tang, 2015. "Natural Disasters, Economic Growth and Sustainable Development in China―An Empirical Study Using Provincial Panel Data," Sustainability, MDPI, vol. 7(12), pages 1-18, December.
    18. Jinqi Su & Ke Su & Shubin Wang, 2021. "Does the Digital Economy Promote Industrial Structural Upgrading?—A Test of Mediating Effects Based on Heterogeneous Technological Innovation," Sustainability, MDPI, vol. 13(18), pages 1-24, September.
    19. Yuan-Chieh Chang & Ming-Huei Chen & Yuan-Po Lin & Yu-Shiang Gao, 2012. "Measuring Regional Innovation and Entrepreneurship Capabilities," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 3(2), pages 90-108, June.
    20. Shrutika Mishra & A. R. Tripathi, 2020. "Platform business model on state-of-the-art business learning use case," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 1-12, June.
    21. Cooke, Philip & Gomez Uranga, Mikel & Etxebarria, Goio, 1997. "Regional innovation systems: Institutional and organisational dimensions," Research Policy, Elsevier, vol. 26(4-5), pages 475-491, December.
    22. Pan, Wenrong & Xie, Tao & Wang, Zhuwang & Ma, Lisha, 2022. "Digital economy: An innovation driver for total factor productivity," Journal of Business Research, Elsevier, vol. 139(C), pages 303-311.
    23. Shrutika Mishra & A. R. Triptahi, 2019. "Platforms oriented business and data analytics in digital ecosystem," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 6(04), pages 1-16, December.
    24. Peng, Jiaying & Xie, Rui & Ma, Chunbo & Fu, Yang, 2021. "Market-based environmental regulation and total factor productivity: Evidence from Chinese enterprises," Economic Modelling, Elsevier, vol. 95(C), pages 394-407.
    25. Nagy Hanna, 2018. "A role for the state in the digital age," Journal of Innovation and Entrepreneurship, Springer, vol. 7(1), pages 1-16, December.
    26. Yuriy VOROBYOV & Diana BURKALTSEVA & Irina KOVALYOVA & Lyudmila BORSCH & Svetlana GERASIMOVA, 2018. "Sustainable Development of the Regional Economy Indicators Analysis Systematization," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 9(2), pages 729-739.
    27. James Levinsohn & Amil Petrin, 2003. "Estimating Production Functions Using Inputs to Control for Unobservables," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(2), pages 317-341.
    28. Carlsson, Bo, 2004. "The Digital Economy: what is new and what is not?," Structural Change and Economic Dynamics, Elsevier, vol. 15(3), pages 245-264, September.
    29. Peter Jones & Martin Wynn, 2021. "The Leading Digital Technology Companies and Their Approach to Sustainable Development," Sustainability, MDPI, vol. 13(12), pages 1-12, June.
    30. Pil Sun Heo & Duk Hee Lee, 2019. "Evolution of the linkage structure of ICT industry and its role in the economic system: the case of Korea," Information Technology for Development, Taylor & Francis Journals, vol. 25(3), pages 424-454, July.
    31. Holger Berg & Henning Wilts, 2019. "Digital platforms as market places for the circular economy—requirements and challenges [Voraussetzungen und Herausforderungen für Digitale Plattformen als Marktplätze der Kreislaufwirtschaft]," Sustainability Nexus Forum, Springer, vol. 27(1), pages 1-9, March.
    32. Armenia Androniceanu, 2019. "Social Responsibility, an Essential Strategic Option for a Sustainable Development in the Field of Bio-Economy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(52), pages 503-503, August.
    33. David Doloreux, 2006. "Understanding Regional Innovation In The Maritime Industry: An Empirical Analysis," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 189-207.
    34. You, Jianmin & Zhang, Wei, 2022. "How heterogeneous technological progress promotes industrial structure upgrading and industrial carbon efficiency? Evidence from China's industries," Energy, Elsevier, vol. 247(C).
    35. Greene, W., 2001. "Estimating Econometric Models with Fixed Effects," New York University, Leonard N. Stern School Finance Department Working Paper Seires 01-10, New York University, Leonard N. Stern School of Business-.
    36. Gabriele Rovigatti & Vincenzo Mollisi, 2018. "Theory and practice of total-factor productivity estimation: The control function approach using Stata," Stata Journal, StataCorp LP, vol. 18(3), pages 618-662, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Peipei Qi & Dandan Sun & Can Xu & Qiang Li & Qi Wang, 2023. "Can Data Elements Promote the High-Quality Development of China’s Economy?," Sustainability, MDPI, vol. 15(9), pages 1-19, April.
    2. Jiaoning Zhang & Xiaoyu Ma & Jiamin Liu, 2022. "How Can the Digital Economy and Human Capital Improve City Sustainability," Sustainability, MDPI, vol. 14(23), pages 1-18, November.
    3. Kangxian Ji & Xiaoting Liu & Jian Xu, 2023. "Digital Economy and the Sustainable Development of China’s Manufacturing Industry: From the Perspective of Industry Performance and Green Development," Sustainability, MDPI, vol. 15(6), pages 1-23, March.
    4. Junping Yang & Ruiqi Wu & Haochun Yang, 2023. "Digital Transformation and Enterprise Sustainability: The Moderating Role of Regional Virtual Agglomeration," Sustainability, MDPI, vol. 15(9), pages 1-21, May.
    5. Yong Hu & Qian Liu, 2023. "Local Digital Economy and Corporate Social Responsibility," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    6. Albérico Travassos Rosário & Joana Carmo Dias, 2023. "The New Digital Economy and Sustainability: Challenges and Opportunities," Sustainability, MDPI, vol. 15(14), pages 1-23, July.
    7. Shuke Fu & Jiabei Liu & Jiali Tian & Jiachao Peng & Chuyue Wu, 2023. "Impact of Digital Economy on Energy Supply Chain Efficiency: Evidence from Chinese Energy Enterprises," Energies, MDPI, vol. 16(1), pages 1-21, January.
    8. Zhaoqing Sun & Jianxu Liu & Roengchai Tansuchat, 2023. "China’s Digital Economy and Enterprise Labor Demand: The Mediating Effects of Green Technology Innovation," Sustainability, MDPI, vol. 15(15), pages 1-24, July.
    9. Guangdi Zhang & Yaojun Ye & Mengya Sun, 2023. "Assessing the Static and Dynamic Efficiency of Digital Economy in China: Three Stage DEA–Malmquist Index Based Approach," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    10. Tingting Liu & Xiaoxian Zhu & Mengqiu Cao, 2022. "Impacts of Reduced Inequalities on Quality Education: Examining the Relationship between Regional Sustainability and Higher Education," Sustainability, MDPI, vol. 14(21), pages 1-15, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Guo, Shu & Zhang, ZhongXiang, 2023. "Green credit policy and total factor productivity: Evidence from Chinese listed companies," Energy Economics, Elsevier, vol. 128(C).
    2. Jun Liu & Yu Qian & Huihong Chang & Jeffrey Yi-Lin Forrest, 2022. "The Impact of Technology Innovation on Enterprise Capacity Utilization—Evidence from China’s Yangtze River Economic Belt," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
    3. Pardesi, Mantej, 2024. "Productivity convergence and firm’s training strategy," ROA Research Memorandum 003, Maastricht University, Research Centre for Education and the Labour Market (ROA).
    4. Bricongne, Jean-Charles & Delpeuch, Samuel & Lopez-Forero, Margarita, 2023. "Productivity slowdown and tax havens: Where is measured value creation?," Journal of International Economics, Elsevier, vol. 143(C).
    5. Tran, Hien Thu, 2019. "Institutional quality and market selection in the transition to market economy," Journal of Business Venturing, Elsevier, vol. 34(5), pages 1-1.
    6. Bhattacharya, Mita & Okafor, Luke Emeka & Pradeep, V., 2021. "International firm activities, R&D, and productivity: Evidence from Indian manufacturing firms," Economic Modelling, Elsevier, vol. 97(C), pages 1-13.
    7. Charles Ackah & Holger Görg & Aoife Hanley & Cecilia Hornok, 2024. "Africa’s businesswomen – underfunded or underperforming?," Small Business Economics, Springer, vol. 62(3), pages 1051-1074, March.
    8. Andrew B. Bernard & Stephen J. Redding & Peter K. Schott, 2009. "Products and Productivity," Scandinavian Journal of Economics, Wiley Blackwell, vol. 111(4), pages 681-709, December.
    9. Crespo Cuaresma, Jesus & Oberhofer, Harald & Vincelette, Gallina Andronova, 2014. "Firm growth and productivity in Belarus: New empirical evidence from the machine building industry," Journal of Comparative Economics, Elsevier, vol. 42(3), pages 726-738.
    10. Simon Pröll & Giannis Karagiannis & Klaus Salhofer, 2019. "Advertising and Markups: The Case of the German Brewing Industry," Working Papers 732019, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    11. Suo, Xuekun & Zhang, Longting & Guo, Rong & Lin, Han & Yu, Mingchuan & Du, Xiuhong, 2024. "The inverted U-shaped association between digital economy and corporate total factor productivity: A knowledge-based perspective," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    12. Jean-Charles Bricongne & Samuel Delpeuch & Margarita Lopez Forero, 2021. "Productivity Slowdown, Tax Havens and MNEs’ Intangibles: where is measured value creation?," Documents de recherche 21-01, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    13. Jean-Charles Bricongne & Samuel Delpeuch & Margarita Lopez Forero, 2021. "Regional Productivity Slowdown, Tax Havens and MNEs’ Intangibles: where is Measured Value Creation?," Working papers 835, Banque de France.
    14. Petrick, Martin & Kloss, Mathias, 2013. "Identifying Factor Productivity from Micro-data: The case of EU agriculture," Working papers 144004, Factor Markets, Centre for European Policy Studies.
    15. Lu, Shan & Peng, Sihan & Shi, Jiaxin & Zhang, Ci & Feng, Yanchao, 2024. "How does digital transformation affect the total factor productivity of China's A-share listed enterprises in the mineral resource-based sector?," Resources Policy, Elsevier, vol. 94(C).
    16. Benoît Mahy & François Rycx & Guillaume Vermeylen & Mélanie Volral, 2018. "Productivity, wages and profits: Does firms’ position in the value chain matter?," Working Paper Research 358, National Bank of Belgium.
    17. Philipp Grunau, 2016. "The impact of overeducated and undereducated workers on establishment-level productivity," International Journal of Manpower, Emerald Group Publishing Limited, vol. 37(2), pages 372-392, May.
    18. Segundo Camino‐Mogro & Natalia Bermudez‐Barrezueta, 2021. "Productivity determinants in the construction sector in emerging country: New evidence from Ecuadorian firms," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2391-2413, November.
    19. Jing, Chunxiao & Foltz, Jeremy D., 2024. "Can the Service Sector Lead Structural Transformation in Africa? Evidence from Côte d'Ivoire," 2024 Annual Meeting, July 28-30, New Orleans, LA 343566, Agricultural and Applied Economics Association.
    20. Wei Wei & Qiao Fan & Aijun Guo, 2022. "China’s Industrial TFPs at the Prefectural Level and the Law of Their Spatial–Temporal Evolution," Sustainability, MDPI, vol. 15(1), pages 1-21, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:19:p:11948-:d:922004. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.