IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v66y2024ics1544612324005828.html
   My bibliography  Save this article

Digital economy, financial development, and corporate green technology innovation

Author

Listed:
  • Wu, Jiaying
  • Xue, Yan
  • Zhang, Qian
  • Liu, Yang

Abstract

This study selects the panel data of A-share listed companies in Shanghai and Shenzhen from 2011 to 2021 and comprehensively analyzes the mediation effect of the digital economy (DE) on corporate green technology innovation (GTI) using the spatial Durbin model. The results show that the DE clearly affects GTI and that financial development is an important avenue through which this effect is mechanized. At different GTI levels, DE promotes digital technological integration with differentiation and has a radiating effect on the GTI of firms in neighboring areas.

Suggested Citation

  • Wu, Jiaying & Xue, Yan & Zhang, Qian & Liu, Yang, 2024. "Digital economy, financial development, and corporate green technology innovation," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324005828
    DOI: 10.1016/j.frl.2024.105552
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612324005828
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2024.105552?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 search for a different version of it.

    References listed on IDEAS

    as
    1. Chinn, Menzie D. & Ito, Hiro, 2006. "What matters for financial development? Capital controls, institutions, and interactions," Journal of Development Economics, Elsevier, vol. 81(1), pages 163-192, October.
    2. Li, Guangpei & Wang, Xiaoyu & Su, Shibin & Su, Yuan, 2019. "How green technological innovation ability influences enterprise competitiveness," Technology in Society, Elsevier, vol. 59(C).
    3. Junhong Qu & Xiaoli Hao, 2022. "Digital Economy, Financial Development, and Energy Poverty Based on Mediating Effects and a Spatial Autocorrelation Model," Sustainability, MDPI, vol. 14(15), pages 1-24, July.
    4. Hsu, Ching-Chi & Ngo, Quang-Thanh & Chien, FengSheng & Li, Li & Mohsin, Muhammad, 2021. "Evaluating green innovation and performance of financial development: mediating concerns of environmental regulation," MPRA Paper 109671, University Library of Munich, Germany.
    5. Lv, Chengchao & Shao, Changhua & Lee, Chien-Chiang, 2021. "Green technology innovation and financial development: Do environmental regulation and innovation output matter?," Energy Economics, Elsevier, vol. 98(C).
    6. Bai, Dongbei & Hu, Jin & Irfan, Muhammad & Hu, Mingjun, 2023. "Unleashing the impact of ecological civilization pilot policies on green technology innovation: Evidence from a novel SC-DID model," Energy Economics, Elsevier, vol. 125(C).
    7. Feng, Suling & Zhang, Rong & Li, Guoxiang, 2022. "Environmental decentralization, digital finance and green technology innovation," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 70-83.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wang, Lili & Liang, Jian & Wang, Beibei, 2024. "Population aging and sustainable economic development: An analysis based on the role of green finance," Finance Research Letters, Elsevier, vol. 70(C).
    2. Liu, Qiongzhi & Li, Renke & Wang, Yuqin, 2024. "Digital finance and capital mobility: Evidence from cross-regional investment of listed companies in China," Pacific-Basin Finance Journal, Elsevier, vol. 87(C).
    3. Weidong Huo & Bingwen Wang, 2025. "Green Credit Policies and the Devaluation of Pollution-Intensive Enterprises: A Quasi-Natural Experiment," Sustainability, MDPI, vol. 17(5), pages 1-21, March.
    4. Ma, Jinghao & Shang, Yujie & Liang, Zhenghan, 2024. "National central cities, technological innovation, and economic growth," Finance Research Letters, Elsevier, vol. 67(PB).
    5. Li, Xiaoyun & Yu, Tingting & Tang, Yuhong, 2024. "Intersection of the digital economy, redundant resources, and enterprise innovation: Unveiling the significance of Firm's resource consumption in China," Resources Policy, Elsevier, vol. 97(C).

    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. Yahya, Farzan & Lee, Chien-Chiang, 2023. "Disentangling the asymmetric effect of financialization on the green output gap," Energy Economics, Elsevier, vol. 125(C).
    2. Jiang, Jie & Seng, Julian & Huo, Wenjin & Shi, Jingwen, 2024. "Mitigating managerial short-sightedness in green technology innovation and corporate financial performance: The role of “National Team” shareholding," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    3. Emon Kalyan Chowdhury, 2025. "Drivers of entrepreneurship development in South Asia: empirical insights and policy recommendations," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-30, December.
    4. Hameed, Touseef & Alemayehu, Fikru Kefyalew & Kumbhakar, Subal C., 2024. "Green innovation in Norwegian firms: Navigating the complexity of productivity and performance," Technological Forecasting and Social Change, Elsevier, vol. 209(C).
    5. 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.
    6. Guo, Yuanyu & Xie, Wenlan & Yang, Yang, 2024. "Dual green innovation capability, environmental regulation intensity, and high-quality economic development in China: Can green and growth go together?," Finance Research Letters, Elsevier, vol. 63(C).
    7. Ma, Jing & Li, Qing & Zhao, Qiuyun & Liou, Jennhae & Li, Chen, 2024. "From bytes to green: The impact of supply chain digitization on corporate green innovation," Energy Economics, Elsevier, vol. 139(C).
    8. Zou, Han & Zhong, MeiRui, 2024. "Local environmental constraints and city's position in dual value chain: What role does digital technology play?," Technology in Society, Elsevier, vol. 78(C).
    9. Yang, Ping & Lv, Yanqin & Chen, Xiaodan & Lv, Juan, 2024. "Digital finance, natural resource constraints and firms' low-carbon behavior: Evidence from listed companies," Resources Policy, Elsevier, vol. 89(C).
    10. Xie, Qichang & Wang, Dong & Bai, Qianwen, 2024. "“Cooperation” or “competition”: Digital finance enables green technology innovation—a new assessment from dynamic spatial spillover perspectives," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 587-601.
    11. Lee, Chien-Chiang & Wang, Fuhao & Lou, Runchi, 2022. "Digital financial inclusion and carbon neutrality: Evidence from non-linear analysis," Resources Policy, Elsevier, vol. 79(C).
    12. Tuo Su, 2024. "Investigating Science and Technology Finance and Its Implications on Real Economy Development: A Performance Evaluation in Chinese Provinces," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 10442-10469, September.
    13. Chen, Lu & Xie, Jiayue, 2024. "A deep connection among the natural resources, technical progress, efficient energy and sustainability: The mediating role of governance," Resources Policy, Elsevier, vol. 96(C).
    14. Sohail Ahmad Javeed & Xiang Cai & Rashid Latief, 2025. "Driving sustainable growth by unlocking the power of digital finance functions: the moderation of environmental regulations," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(4), pages 8525-8555, April.
    15. Song, Xiaoling & Yao, Yumeng & Wu, Xueke, 2023. "Digital finance, technological innovation, and carbon dioxide emissions," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 482-494.
    16. Zhao, Shikuan & Abbassi, Wajih & Hunjra, Ahmed Imran & Zhang, Han, 2024. "How do government R&D subsidies affect corporate green innovation choices? Perspectives from strategic and substantive innovation," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1378-1396.
    17. Wang, Feipeng & Wong, Wing-Keung & Wang, Zheng & Albasher, Gadah & Alsultan, Nouf & Fatemah, Ambreen, 2023. "Emerging pathways to sustainable economic development: An interdisciplinary exploration of resource efficiency, technological innovation, and ecosystem resilience in resource-rich regions," Resources Policy, Elsevier, vol. 85(PA).
    18. Du, Lixia & Geng, Baiyang, 2024. "Financial technology and financing constraints," Finance Research Letters, Elsevier, vol. 60(C).
    19. Shao, Cuiying & Liu, Zhanyu, 2024. "Advancing green innovation through the establishment of data regulatory bodies: Insights from the Big Data Bureau in China," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 308-325.
    20. Tan, Weijie & Zhang, Zihan & Chu, Zhongzhu & Chen, Pengyu, 2024. "Unlocking green potential: The digital government-driven revolution in corporate green innovation," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 60-79.

    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:finlet:v:66:y:2024:i:c:s1544612324005828. 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.elsevier.com/locate/frl .

    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.