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The Impact of National Big Data Pilot Zones on the Persistence of Green Innovation: A Moderating Perspective Based on Green Finance

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  • Ruizhi Liu

    (Management College, Ocean University of China, Qingdao 266100, China)

  • Mengwei Hou

    (Management College, Ocean University of China, Qingdao 266100, China)

  • Ruifeng Jing

    (School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China)

  • Alexandra Bauer

    (Mario J. Gabelli School of Business, Roger Williams University, Bristol, RI 02809, USA)

  • Mark Wu

    (Mario J. Gabelli School of Business, Roger Williams University, Bristol, RI 02809, USA)

Abstract

Enhancing the persistence of corporate green innovation is crucial for promoting sustainable societal development. As big data technologies and related policies advance, digitalization emerges as an effective enabler of green innovation in enterprises. This study, grounded in resource-based theory and corporate ecology theory, examines the impact of national-level big data pilot zone reforms on the persistence of corporate green innovation, utilizing data from China’s A-share-listed companies from 2011 to 2021. It also explores the moderating effect of green finance development. Empirical results indicate that (1) the implementation of national-level big data pilot zones positively influences the persistence of green innovation, with robustness and endogeneity tests confirming these findings. (2) The development of regional green finance positively moderates this relationship. (3) A mediation analysis reveals that national-level big data policies enhance innovation persistence by alleviating financing constraints, promoting talent aggregation, and facilitating industrial upgrading. (4) The heterogeneity analysis shows that the positive impact of these reforms is more pronounced in non-state-owned, non-heavy polluting firms, those receiving high subsidies, and in regions with stringent environmental regulations. This study offers a novel theoretical perspective on and empirical evidence for digital transformation from the angle of national policy, supporting societal green development and contributing to policy enhancement aimed at achieving sustainable growth.

Suggested Citation

  • Ruizhi Liu & Mengwei Hou & Ruifeng Jing & Alexandra Bauer & Mark Wu, 2024. "The Impact of National Big Data Pilot Zones on the Persistence of Green Innovation: A Moderating Perspective Based on Green Finance," Sustainability, MDPI, vol. 16(21), pages 1-28, November.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:21:p:9570-:d:1513067
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