The corporate path to green innovation: does the digital economy matter?

Abstract

As China’s digital transformation accelerates, there is growing interest in whether the digital economy can effectively boost green innovation in industrial enterprises and enable China’s development to break through the constraints of resources and environment. Therefore, this study analyzes the data of A-share industrial listed enterprises (2011–2020). Results indicate that the digital economy promotes green innovation. The impact of the digital economy on green innovation varies significantly among different types of enterprises, with stronger effects on state-owned enterprises. Digital economy enhances green innovation via boosting public attention and optimizing energy structure. Therefore, playing the role of monitoring public attention, and optimizing energy use are key strategies to promote corporate green innovation.

Research on the coupling mechanism and influencing factors of digital economy and green technology innovation in Chinese urban agglomerations

“…The coupling model of digital economy and green technology innovation constructed in this paper calculates the development and coupling degree of digital economy and green technology innovation in China from 2011 to 2020, and promotes the coordinated development of digital economy and green technology innovation based on the coupling model. The calculation results are basically consistent with the literature 6 , 30 , 40 , 50 . The calculation results show that the overall degree of coupled and coordinated development of digital economy and green technology innovation in China maintains a continuous improvement, but the spatial difference is significant.…”

“…For instance, there exists a nonlinear correlation between digital economy and green technology innovation 4 , 5 . And the digital economy can optimize the energy structure and promote the quality and quantity of green technological innovation in enterprises 6 , Zhang et al 7 , 8 with significant spatial spillover effects 9 , 10 . Moreover, the regional heterogeneity displayed two decreasing trends of "increasing first and then decreasing" and "decreasing" (excluding Xinjiang) 11 .…”

The rise in popularity of central bank digital currencies. A systematic review

“…By increasing public awareness and improving the energy grid, the digital economy fosters green innovation. As a result, optimizing energy use and performing the role of public attention monitor are crucial tactics to support corporate green innovation [ 99 ]. Studies also investigate the connection between Chinese SMEs' market success and their culture of green innovation [ 100 ] and demonstrate a favorable impact of green innovation culture on product, marketing innovation and market performance, suggesting that SMEs in emerging economies should focus on fostering a culture of green innovation in order to enhance their success on the market.…”

“…The digital yuan is still in its development phase, but China is motivated to issue it as a result of the rise of cryptocurrencies, including Bitcoin, which is banned there, the evolution of big technology firms, and the need for a more stable currency, together with additional macroeconomic tools [ 12 ]. It becomes obvious that China is a frontrunner in conducting research around the link between the digital economy and green energy, and that sustainability constitutes one of their major research themes, given their focus on greener cities, less pollution and green innovation, especially in industrial companies, whether private or state-owned [ 99 , 101 , 102 ].…”

Can digital economy foster synergistic increases in green innovation and corporate value? Evidence from China

“…Several researchers have examined how the digital economy facilitates green innovation. By leveraging economies of scale, economies of scope, and other factors, the digital economy is capable of reducing the cost of information communication [ 16 , 17 ] and enhancing production efficiency [ 18 , 19 ], thereby stimulating GI [ 20 , 21 ]. Externally, the advancement of the digital economy can bolster companies’ green innovation through various means, such as boosting economic openness, optimizing industrial structure, expanding market potential, increasing media visibility, and reducing environmental uncertainty [ 6 , 14 , 22 , 23 ].…”