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Digital transformation and green finance efficiency of tourism enterprises: The effect of credit ratings

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  • Ye, Xincai
  • Miao, Lin

Abstract

With the growth of digital technologies, tourism companies have accelerated their digital transformation in recent years to improve efficiency and profitability. In this research, we explore the implications of digital transformation for tourism firms' green finance efficiency. Grounded in a comprehensive panel of publicly traded tourism enterprises from 2000 to 2024, this paper offers strong evidence that digital transformation has substantially boosted green finance efficiency of tourism firms, and this effect is even larger for tourism enterprises with lower credit ratings. Further research shows that information transparency and cost efficiency are vital economic channels. Our findings are consistent across multiple endogeneity and sensitivity analyses. Overall, this paper greatly advances the burgeoning studies on digital transformation, green finance, and tourism studies.

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  • Ye, Xincai & Miao, Lin, 2025. "Digital transformation and green finance efficiency of tourism enterprises: The effect of credit ratings," International Review of Financial Analysis, Elsevier, vol. 106(C).
    • Handle: RePEc:eee:finana:v:106:y:2025:i:c:s1057521925006143
    DOI: 10.1016/j.irfa.2025.104527
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