The impact of digital transformation on corporate financialization: The mediating effect of green technology innovation

Sui, Bo; Yao, Liuyang

doi:10.1016/j.igd.2022.100032

Cited by 59 publications

(29 citation statements)

References 43 publications

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“…First of all, local governments should start from a top-down perspective and use digital platforms to ensure the smooth flow of financial support for green technology research and development by developing hierarchical financial incentives and subsidies and green credit services [41] to improve the environment for industrial investors to invest in. In the meantime, they should use green technology innovation technology to quicken conventional industrial businesses' transformation and modernization pace, cut back on their production expenses and cycles, and increase their ability for innovation and productivity [42]. Additionally, this could improve the country's access to the outside world, foster collaboration and exchanges between worldwide research teams, and introduce and use cutting-edge technology from other countries.…”

Section: Policy Recommendationsmentioning

confidence: 99%

Study on the Coupled and Coordinated Development and Evolution of Digital Economy and Green Technology Innovation

2023

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Green technology innovation offers a new dynamic support and realization path for the comprehensive transformation and upgrading of the digital economy and intensive development mode. The study of green technology’s coupled and coordinated development and evolution with the digital economy is conducive to promoting the quality and efficiency of the digital economy. With the aid of the coupling coordination degree, nuclear density, and the Gini coefficient, this paper develops a digital economy and green technology innovation evaluation index system based on the theoretical mechanism of coupling and coordination and empirically investigates the spatial and temporal evolution of the dynamic coupling and coordination of the digital economy and green technology innovation in Chinese regions from 2011 to 2021. The results show that there is an imbalance in the coupled and coordinated development of the regional digital economy and green technology innovation, and the overall strength needs to be improved; the empirical results of nuclear density show that the regional development gap is further revealed, and the driving mechanism needs to be optimized; the empirical results of Gini coefficient show that there are obvious differences in contribution rates between regions, and the coordination and collaboration mechanism needs to be improved. Finally, it is suggested that, in the future, green technology innovation capabilities should be comprehensively promoted, regional digital development drive mechanisms should be optimized, inter-regional coordination and regulatory mechanisms should be improved, and the coupled and coordinated development of the digital economy and green technology innovation at a higher level should be realized as soon as possible.

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Section: Policy Recommendationsmentioning

confidence: 99%

Study on the Coupled and Coordinated Development and Evolution of Digital Economy and Green Technology Innovation

2023

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“…By examining environmental performance, social performance, and governance performance separately, researchers have provided more evidence that they affect green innovation (Sui & Yao, 2023; Tang et al, 2023). In the dimension of environmental performance, the need to reduce carbon emissions (Lee & Min, 2015) and improve energy efficiency (Sun et al, 2019) has prompted the widespread development of green innovation and the widespread use of green technologies.…”

Section: Introductionmentioning

confidence: 99%

ESG performance and green innovation: An investigation based on quantile regression

et al. 2023

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Using panel data from 37 countries from 1990 to 2019 and applying a quantile regression approach with panel fixed effects, we investigate the impact of national Environmental, Social, and Governance (ESG) performance on green innovation and how this impact varies across different green innovation capacity distributions. The research conclusions are as follows. (1) National ESG performance improvement significantly promotes green innovation. (2) The improvement of environmental performance and governance performance significantly promotes green innovation, but in countries with weak green innovation capabilities, the improvement of social performance reduces the output of green innovation. (3) The role of national ESG performance in promoting green innovation is stronger in countries with weak green innovation capabilities. (4) In non‐high‐income countries, the stronger the green innovation capability is, the more obvious is the promotion of ESG performance to green innovation. The findings of this paper provide empirical evidence and a policy basis for governments to focus on improving ESG performance and to commit to promoting green innovation activities more effectively.

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“…In line with the emergence of practical concerns, the academic world has conducted extensive studies on the impacts of green finance and driving factors for IGTFP. Regarding green finance's effects, the literature has mostly examined how it affects economic growth (Levine, 2005; Yang et al, 2021), environmental quality (Abanyie et al, 2023; Hariyani et al, 2023; Hussain et al, 2023; Mgomezulu et al, 2023; Raihan et al, 2023; Sui & Yao, 2023; Tang et al, 2023; Wang et al, 2023; Zhang, Li, et al, 2021; Zhou et al, 2020), green economy (Chin et al, 2022), industrial upgrading (Wang, Cai, & Elahi, 2021; Wang, Cui, & Zhao, 2021), enterprise investment and financing (Gilbert & Zhou, 2017; Yu et al, 2021), enterprise performance (Huang et al, 2021), enterprise green technology innovation (Yin et al, 2022; Zhang et al, 2022), and performance and risk of financial institutions (Cui et al, 2018; Guan et al, 2017; Lian et al, 2022). In parallel, academics have investigated the forces behind the industrial green revolution from the perspective of environmental regulation (ER) (Peng et al, 2021; Tang et al, 2020; Wang & Shen, 2016), technological innovation (Fu et al, 2022; Hao et al, 2023; Luo et al, 2022; Peng et al, 2022; Wang & Tan, 2021; Wen et al, 2023; Xue et al, 2022; Yang et al, 2022; Yin et al, 2022; Zhao et al, 2022; Zhao et al, 2023; Zheng et al, 2022), and trade openness (Xu et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Green finance, environment regulation, and industrial green transformation for corporate social responsibility

Chen

Chang

2023

Corp Soc Responsibility Env

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In order to meet the strategic goals of carbon peak and carbon neutralization on schedule, it is crucial to examine the effects and limitations of green finance on the green transformation of industry. This research utilizes the entropy method, the Global Malmquist–Luenberger technique, and panel data of 30 provinces in China from 2005 to 2018 to estimate the extent of industrial green transformation and green finance development in each province. It builds static and dynamic panel models to experimentally examine the effect of green finance on industrial green transformation. After introducing environmental regulation (ER), this paper presents how ER influences the link between green finance and industrial green transformation. The research finds the following. (1) According to geographical differences in the growth of green finance and industrial green transformation, the economically developed east region is more advanced than the central and west regions, and the central region is more advanced than the west region. (2) Green finance has a significantly positive impact on industrial green transformation, and this positive influence has certain continuity and inertia. (3) Environmental regulation has a favorable impact on the link between green finance and industrial green transformation; specifically, a rise in the level of environmental regulation stimulates the process of green finance that boosts industrial green transformation. The policy recommendations herein offer reference for the construction of China's green financial system and the promotion of industrial green transformation for CSR.

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The impact of digital transformation on corporate financialization: The mediating effect of green technology innovation

Cited by 59 publications

References 43 publications

Study on the Coupled and Coordinated Development and Evolution of Digital Economy and Green Technology Innovation

Study on the Coupled and Coordinated Development and Evolution of Digital Economy and Green Technology Innovation

ESG performance and green innovation: An investigation based on quantile regression

Green finance, environment regulation, and industrial green transformation for corporate social responsibility

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