IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v88y2025icp1857-1876.html

Does data assetization matter to corporate green innovation: Evidence from China

Author

Listed:
  • Liu, Yaoyao
  • Xie, Yufei
  • Han, Jie

Abstract

This study investigates whether and how data assetization facilitates corporate green innovation in China. The empirical results suggest that both own-use and transactional data assetization are positively related to corporate green innovation. Based on the TOE framework, we posit that the increased R&D investment, enhanced operational efficiency, and reduced financing constraints are potential channels through which data assetization promotes green innovation. Moreover, the positive effects of data assetization are more pronounced in regions with advanced digital infrastructure, technology-intensive industries, and non-state-owned enterprises. Considering the quality of green innovation, further research reveals that both types of data assetization can promote substantive green innovation, while transactional data assetization may hinder strategic green innovation. Our study enriches the literature on data assetization and highlights its crucial role in facilitating high-quality corporate green innovation.

Suggested Citation

  • Liu, Yaoyao & Xie, Yufei & Han, Jie, 2025. "Does data assetization matter to corporate green innovation: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1857-1876.
    • Handle: RePEc:eee:ecanpo:v:88:y:2025:i:c:p:1857-1876
    DOI: 10.1016/j.eap.2025.11.011
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592625004606
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eap.2025.11.011?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Haoyu Gao & Hui Wang & Xinyu Wang & Huiyu Wen, 2024. "ESG‐oriented analysts and corporate green innovation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(S1), pages 4977-5008, December.
    2. Jing, Chenxing & Keasey, Kevin & Lim, Ivan & Xu, Bin, 2024. "Analyst Coverage and Corporate Environmental Policies," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 59(4), pages 1586-1619, June.
    3. Changyu Hu & Yuetong Li & Xiaojia Zheng, 2022. "Data assets, information uses, and operational efficiency," Applied Economics, Taylor & Francis Journals, vol. 54(60), pages 6887-6900, December.
    4. Verhoef, Peter C. & Broekhuizen, Thijs & Bart, Yakov & Bhattacharya, Abhi & Qi Dong, John & Fabian, Nicolai & Haenlein, Michael, 2021. "Digital transformation: A multidisciplinary reflection and research agenda," Journal of Business Research, Elsevier, vol. 122(C), pages 889-901.
    5. Gao, Qiang & Cheng, Changming & Sun, Guanglin, 2023. "Big data application, factor allocation, and green innovation in Chinese manufacturing enterprises," Technological Forecasting and Social Change, Elsevier, vol. 192(C).
    6. Zhang, Jun & Xie, Tangkun & Kong, Xiaoran & Liu, Bo & Zhang, Wenke, 2025. "Can data assets promote green innovation in enterprises?," Finance Research Letters, Elsevier, vol. 72(C).
    7. Xiaojia Zheng & Xuebin Zhang & Ge Yang, 2025. "Can data assets spur corporate R&D investment?," Applied Economics Letters, Taylor & Francis Journals, vol. 32(4), pages 538-545, February.
    8. Jie Wang, 2025. "Digital transformation, environmental regulation and enterprises' ESG performance: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 1567-1582, March.
    9. Jing-Wen Huang & Yong-Hui Li, 2017. "Green Innovation and Performance: The View of Organizational Capability and Social Reciprocity," Journal of Business Ethics, Springer, vol. 145(2), pages 309-324, October.
    10. James R Brown & Gustav Martinsson & Christian Thomann, 2022. "Can Environmental Policy Encourage Technical Change? Emissions Taxes and R&D Investment in Polluting Firms," The Review of Financial Studies, Society for Financial Studies, vol. 35(10), pages 4518-4560.
    11. Gao, Dengyun & Liu, Chang & Sun, Zhanwei, 2025. "Data elements and corporate innovation: A discussion of corporate innovation strategy," Finance Research Letters, Elsevier, vol. 76(C).
    12. Niu, Yuhao & Wen, Wen & Wang, Sai & Li, Sifei, 2023. "Breaking barriers to innovation: The power of digital transformation," Finance Research Letters, Elsevier, vol. 51(C).
    13. Xie, Xuemei & Huo, Jiage & Zou, Hailiang, 2019. "Green process innovation, green product innovation, and corporate financial performance: A content analysis method," Journal of Business Research, Elsevier, vol. 101(C), pages 697-706.
    14. Jianteng Ma & Xiaoyun Yang & Minghuan Li, 2024. "Are Data Assets Useful?—Evidence Based on Corporate Cost Stickiness," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 60(15), pages 3734-3752, December.
    15. Ardito, Lorenzo & Raby, Simon & Albino, Vito & Bertoldi, Bernardo, 2021. "The duality of digital and environmental orientations in the context of SMEs: Implications for innovation performance," Journal of Business Research, Elsevier, vol. 123(C), pages 44-56.
    16. El-Kassar, Abdul-Nasser & Singh, Sanjay Kumar, 2019. "Green innovation and organizational performance: The influence of big data and the moderating role of management commitment and HR practices," Technological Forecasting and Social Change, Elsevier, vol. 144(C), pages 483-498.
    17. Geng, Yuan & Chen, Jinyu & Liu, Ran, 2024. "ESG rating disagreement and corporate green innovation bubbles: Evidence from Chinese A-share listed firms," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    18. Dongri Han & Hongshuang Wu & Ke Lu, 2024. "The effect of data element agglomeration on green innovation vitality in China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-10, December.
    19. Helena Forsman, 2013. "Environmental Innovations as a Source of Competitive Advantage or Vice Versa?," Business Strategy and the Environment, Wiley Blackwell, vol. 22(5), pages 306-320, July.
    20. Lili Chen, 2024. "Data assetization and capital market information efficiency: evidence from Hidden Champion SMEs in China," Future Business Journal, Springer, vol. 10(1), pages 1-23, December.
    21. Zhang, Zhaoting & Zhang, Lei, 2024. "Investor attention and corporate ESG performance," Finance Research Letters, Elsevier, vol. 60(C).
    Full references (including those not matched with items on IDEAS)

    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. Kun Wang & Bing Chen & Yuhong Li, 2024. "Technological, process or managerial innovation? How does digital transformation affect green innovation in industrial enterprises?," Economic Change and Restructuring, Springer, vol. 57(1), pages 1-32, February.
    2. Ji, Ruibing & Zhang, Shengling & Cao, Wenxuan & Hao, Yu & Wang, Nuo, 2025. "Data assets, supply chain spillovers, and corporate ESG development — Evidence from Chinese listed companies," Structural Change and Economic Dynamics, Elsevier, vol. 75(C), pages 880-894.
    3. Zhang, Cheng & Yu, JiaQi & Bai, Yiyi & Ho, Kung-Cheng, 2024. "The impact of CEO's green experience on digital transformation," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    4. Huang, Lingyu & Zhang, Yuxuan & Xian, Rui & Chen, Xinxian, 2026. "Data asset disclosure and corporate innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 109(C).
    5. Xinwei Li & Wenjuan Zeng & Mao Xu, 2022. "The Moderating Role of IT Capability on Green Innovation and Ambidexterity: Towards a Corporate Sustainable Development," Sustainability, MDPI, vol. 14(24), pages 1-20, December.
    6. Han Long & Gen-Fu Feng & Chun-Ping Chang, 2023. "How does ESG performance promote corporate green innovation?," Economic Change and Restructuring, Springer, vol. 56(4), pages 2889-2913, August.
    7. Qiao, Penghua & Liu, Siting & Fung, Hung-Gay & Wang, Chen, 2024. "Corporate green innovation in a digital economy," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 870-883.
    8. Ni, Yunsong, 2025. "Data assets and corporate ESG performance: Evidence from Chinese listed companies," Finance Research Letters, Elsevier, vol. 86(PF).
    9. Caiqing Liang & Mohd Rusli Yacob & Siong Hook Law & Irina Harun, 2024. "Effects of Digital Transformation and Green Technology Innovation on Manufacturing’s Financial Performance: Evidence from China," Advances in Decision Sciences, Asia University, Taiwan, vol. 28(4), pages 92-119.
    10. Pereira, Vijay & Nair, Asha KS. & Bhattacharyya, Som Sekhar, 2025. "Exploring and investigating the complementarity and multidimensionality of innovation for sustainability research: Past present and future," Technovation, Elsevier, vol. 139(C).
    11. Chao Hung Wang, 2020. "An environmental perspective extends market orientation: Green innovation sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3123-3134, December.
    12. Xu, Chao & Sun, Guanglin & Kong, Tao, 2024. "The impact of digital transformation on enterprise green innovation," International Review of Economics & Finance, Elsevier, vol. 90(C), pages 1-12.
    13. Ayça Kubra Hizarci‐Payne & İlayda İpek & Gülüzar Kurt Gümüş, 2021. "How environmental innovation influences firm performance: A meta‐analytic review," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 1174-1190, February.
    14. Bataineh, Mohammad Jamal & Sánchez-Sellero, Pedro & Ayad, Fayssal, 2024. "The role of organizational innovation in the development of green innovations in Spanish firms," European Management Journal, Elsevier, vol. 42(4), pages 527-538.
    15. Hu, Dianxi & Jiao, Jianling & Tang, Yunshu & Xu, Yuwen & Zha, Jianrui, 2022. "How global value chain participation affects green technology innovation processes: A moderated mediation model," Technology in Society, Elsevier, vol. 68(C).
    16. Hung Vu Nguyen & Thi Thuc Anh Phan & Xuan Dam Dong & Ha Van Nguyen & Long Thanh Do, 2026. "Green innovation adoption and business performance in service industry: an empirical study in hotels," Asian Business & Management, Palgrave Macmillan, vol. 25(1), pages 51-76, February.
    17. Jing Li & Da Yan, 2021. "Exploration on the Mechanism of the Impact of Green Supply Chain Management on Enterprise Sustainable Development Performance," Sustainability, MDPI, vol. 13(17), pages 1-18, September.
    18. Fengsheng Chien & Hafiz Waqas Kamran & Muhammad Atif Nawaz & Nguyen Ngoc Thach & Pham Dinh Long & Zulfiqar Ali Baloch, 2022. "Assessing the prioritization of barriers toward green innovation: small and medium enterprises Nexus," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(2), pages 1897-1927, February.
    19. Liu, Feng & Wang, Rongping & Fang, Mingjie, 2024. "Mapping green innovation with machine learning: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    20. Xie, Xuemei & Han, Yuhang & Hoang, Thu Thao, 2022. "Can green process innovation improve both financial and environmental performance? The roles of TMT heterogeneity and ownership," Technological Forecasting and Social Change, Elsevier, vol. 184(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:eee:ecanpo:v:88:y:2025:i:c:p:1857-1876. 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: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    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.