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Digital economy and substantial green innovation: empirical evidence from Chinese listed companies

Author

Listed:
  • Qingling Liu

    (School of Accounting, Anhui University of Finance and Economics, Bengbu)

  • Xiaoxiao Yang

    (School of Accounting, Anhui University of Finance and Economics, Bengbu)

  • Zhiyang Shen

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Dalia Štreimikienė

    (Institute of Economics and Rural Development, Lithuanian Centre for Social Sciences, Vilnius)

Abstract

Amid the rise of the new industrial revolution, the digital economy has gradually become the major fulcrum behind China's industrial transformation. This study examines how the digital economy impacts enterprises' substantive green innovation and its mechanism using data drawn from a sample of Chinese listed companies covering 2011–2019 and focusing on internal control and long-term investment. The findings of a mechanism analysis indicate that the digital economy can significantly enhance enterprises' substantive green innovation by promoting the quality of internal control and stimulating long-term investment. Incorporating internal governance and agency issues into the research framework reveals that a higher level of corporate governance enhances the facilitation influence of digital economy on enterprises' substantive green innovation. Heterogeneity test results show that digital economy has a peculiarly significant role in enhancing the substantive green innovation of enterprises with a high proportion of management ownership. Not only does this study enrich the research on the microeconomic consequences of digital economy and the drivers of enterprises' green innovation, but its implications also suggest that China should accelerate the construction of new infrastructure and the green transformation of domestic enterprises.

Suggested Citation

  • Qingling Liu & Xiaoxiao Yang & Zhiyang Shen & Dalia Štreimikienė, 2022. "Digital economy and substantial green innovation: empirical evidence from Chinese listed companies," Post-Print hal-03974905, HAL.
    • Handle: RePEc:hal:journl:hal-03974905
    DOI: 10.1080/09537325.2022.2156336
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    Citations

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    Cited by:

    1. Yong Qi & Yanan Tang & Tingting Bai, 2024. "Impact of smart city pilot policy on heterogeneous green innovation: micro-evidence from Chinese listed enterprises," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-27, April.
    2. Jinguo Rao & Xiaosong Zhang & Duanqiang Zhai, 2024. "Does the Upgrading of Development Zones Improve Land Use Efficiency under the Net-Zero Carbon City Goal? Prefectural-Level Evidence from Quasi-Natural Experiments in China," Land, MDPI, vol. 13(8), pages 1-22, August.
    3. Senhua Huang & Wenzhong Ye & Feng Han, 2023. "Does the Digital Economy Promote Industrial Collaboration and Agglomeration? Evidence from 286 Cities in China," Sustainability, MDPI, vol. 15(19), pages 1-24, October.
    4. Su, Zhaoxian & Wang, Hao & Zhao, Guanqi & Xie, Chunyu, 2024. "How digital government mediate the influence of fossil fuels on green innovation: Evidence from China's a-share industrial enterprises," Resources Policy, Elsevier, vol. 91(C).
    5. Yang, Hefan & Liu, Xilu & Meng, Yao & Feng, Baoyi & Chen, Zhijun, 2024. "Digital transformation and the allocation of decision-making rights within business groups – Empirical evidence from China," Journal of Business Research, Elsevier, vol. 179(C).

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