IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v103y2025ics1059056025006239.html

How does digital supply chain transformation enhance sustainable performance of renewable energy enterprises?

Author

Listed:
  • Shi, Xiuping
  • Liu, Hao

Abstract

Enhancing sustainable performance is critical for renewable energy enterprises grappling with supply chain vulnerabilities. This study employs a DID model for regression analysis with data spanning from 2012 to 2023. The results show that digital transformation significantly enhances the sustainable performance of renewable energy enterprises by improving supply chain intelligence and coordination efficiency. The digital economy improves energy supply stability and sustainability by optimizing production and inventory management, enhancing supply chain coordination, and enabling green technology integration with renewables. The analysis identifies key conditions: the maturity of energy factor markets enables supply chain digitalization to enhance enterprises' sustainable performance. Additionally, the unique climate sensitivity of energy enterprises leads to stronger energy resilience improvements in firms with higher exposure to climate risks. However, the inherent risks of energy supply chains, capital intensity, and stakeholder oversight pose challenges to their sustainable governance practices.

Suggested Citation

  • Shi, Xiuping & Liu, Hao, 2025. "How does digital supply chain transformation enhance sustainable performance of renewable energy enterprises?," International Review of Economics & Finance, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025006239
    DOI: 10.1016/j.iref.2025.104460
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056025006239
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2025.104460?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. Niu, Xiaotong & Lin, Changao & He, Shanshan & Yang, Youcai, 2025. "Artificial intelligence and enterprise pollution emissions: From the perspective of energy transition," Energy Economics, Elsevier, vol. 144(C).
    2. Cao, Hongjian & Zhao, Yu & Yuan, Li & Li, Ke, 2024. "Does legislation promote technological innovation in renewable energy enterprises? Evidence from China," Energy Policy, Elsevier, vol. 188(C).
    3. Sun, Yuhuan & Li, Hui & Zhu, Bingcheng, 2024. "Factor market distortion, total factor energy efficiency and energy shadow price: A case of Chinese manufacturing industry," Energy, Elsevier, vol. 307(C).
    4. Zhou, Huiyang & Wang, Ruzhou & Zhang, Xiyu & Chang, Minyen, 2024. "The impact of digital technology adoption on corporate supply chain concentration: Evidence from patent analysis," Finance Research Letters, Elsevier, vol. 64(C).
    5. Zhong, Qian & Zhang, Qun & Yang, Jingjing, 2025. "Can artificial intelligence empower energy enterprises to cope with climate policy uncertainty?," Energy Economics, Elsevier, vol. 141(C).
    6. Liu, Xiaoqian & Jia, You & Zhu, Conghao & Wang, Chang’an & Yao, Jian, 2025. "Policy-driven innovation: Does the renewable energy development initiative foster corporate innovation in renewable energy technologies?," International Review of Financial Analysis, Elsevier, vol. 102(C).
    7. Lv, Xuejing & Zhao, Bosi & Cheng, Defang & Xia, Chenyang, 2024. "Patent strategies in the digital revolution: How businesses use digital technology patents to optimize resource allocation efficiency," Finance Research Letters, Elsevier, vol. 67(PA).
    8. Gu, Jiafeng, 2025. "Did supply chain digitization contribute to corporate green energy innovation? The mediating role of asset receivable management and policy spillovers," Energy Economics, Elsevier, vol. 143(C).
    9. Babaei, Ardavan & Babaee Tirkolaee, Erfan & Ali, Sadia Samar, 2025. "Assessing the viability of blockchain technology in renewable energy supply chains: A consolidation framework," Renewable and Sustainable Energy Reviews, Elsevier, vol. 212(C).
    10. Ma, Jinghao & Shang, Yujie & Liang, Zhenghan, 2025. "Digital transformation, artificial intelligence and enterprise innovation performance," Finance Research Letters, Elsevier, vol. 78(C).
    11. Li, Lingxiao & Wen, Jun & Li, Yan & Mu, Zi, 2025. "Supply chain challenges and energy insecurity: The role of AI in facilitating renewable energy transition," Energy Economics, Elsevier, vol. 144(C).
    12. Peng, Yue & Wang, Wei & Zhen, Shangsong & Liu, Yunqiang, 2024. "Does digitalization help green consumption? Empirical test based on the perspective of supply and demand of green products," Journal of Retailing and Consumer Services, Elsevier, vol. 79(C).
    13. Niu, Niu & Ma, Junhua & Zheng, Deyuan & Lu, Yang & Zhang, Bin, 2025. "Extreme weather and the green transition of energy firms: The moderating effect of digital technology and digital inclusive finance," Research in International Business and Finance, Elsevier, vol. 76(C).
    14. Yi, Yuxin & Zhang, Liming & Du, Lei & Sun, Helin, 2024. "Cross-regional integration of renewable energy and corporate carbon emissions: Evidence from China's cross-regional surplus renewable energy spot trading pilot," Energy Economics, Elsevier, vol. 135(C).
    15. Fu, Shuke & Ge, Yingchen & Hao, Yu & Peng, Jiachao & Tian, Jiali, 2024. "Energy supply chain efficiency in the digital era: Evidence from China's listed companies," Energy Economics, Elsevier, vol. 134(C).
    16. Fei Li & Yufei Wu & Jinli Liu & Shen Zhong, 2022. "Does digital inclusive finance promote industrial transformation? New evidence from 115 resource-based cities in China," PLOS ONE, Public Library of Science, vol. 17(8), pages 1-23, August.
    17. Lin, Boqiang & Xie, Yongjing, 2024. "Driving renewable energy innovation investments: Is venture capital a novel strategic choice? Evidence from China," Renewable Energy, Elsevier, vol. 237(PC).
    18. Jiang, Gaoyang & Peng, Jie & Liang, Xintong & Pan, Junyu, 2025. "Supply chain digitization and continuous green innovation: Evidence from China," Energy Economics, Elsevier, vol. 142(C).
    19. Zhu, Yan & Zhang, Zhuyun, 2024. "Supply chain digitalization and corporate ESG performance: Evidence from supply chain innovation and application pilot policy," Finance Research Letters, Elsevier, vol. 67(PA).
    20. Zhang, Qianxiang & Min Du, Anna & Lin, Boqiang, 2025. "Driving total factor productivity: The spillover effect of digitalization in the new energy supply chain," Research in International Business and Finance, Elsevier, vol. 75(C).
    21. Nie, Shiqi & Cao, Xiaojing & Li, Zilong & Liu, Mingxin & Zhang, Yiren, 2025. "Supply chain digitization in the net-zero era: The impact of digital technology, renewable energy, and infrastructure," Energy Economics, Elsevier, vol. 144(C).
    22. Zheng, Zhuoji & Li, Xueqin & Han, Xianfeng & Shi, Daqian & Liu, Juan, 2025. "Better green financial instrument: Government green fund and corporate new energy technology innovation," Energy Economics, Elsevier, vol. 143(C).
    23. Liu, Yang & Dong, Kangyin & Nepal, Rabindra & Afi, Hatem, 2025. "How do climate risks affect corporate ESG performance? Micro evidence from China," Research in International Business and Finance, Elsevier, vol. 76(C).
    24. Zhao, Mingtao & Fu, Xuebao & Sun, Jun & Wang, ZhenZhen & Wang, HongJiu & Lu, Suwan & Cui, Lianbiao, 2025. "Optimal strategy of artificial intelligence on low-carbon energy transformation: Perspective from enterprise green technology innovation efficiency," Energy, Elsevier, vol. 319(C).
    25. Huang, Meiying & Li, Quan & Li, Bowen, 2025. "From algorithms to green growth: Can artificial intelligence drive enterprise energy transformation?," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1846-1866.
    26. Yang, Shaopeng & Fu, Yuxi, 2025. "Interconnectedness among supply chain disruptions, energy crisis, and oil market volatility on economic resilience," Energy Economics, Elsevier, vol. 143(C).
    27. Li, He, 2025. "The effect of digital technology innovation on low carbon investment in renewable energy enterprises," Renewable Energy, Elsevier, vol. 239(C).
    28. Chen, Liping & Dai, Yishu & Ren, Fei & Dong, Xiaoying, 2023. "Data-driven digital capabilities enable servitization strategy——From service supporting the product to service supporting the client," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
    29. Chen, Hongfei & Niu, Dongxiao & Gao, Yibo, 2025. "Research on the impact of energy transition policies on green total factor productivity of Chinese high-energy-consuming enterprises," Energy, Elsevier, vol. 319(C).
    30. Xin, Fu & Sheng, Ran & Zhang, Jie & Bai, Kairui, 2024. "Factor market distortion and corporate innovation: Theory and evidence from China," Journal of Asian Economics, Elsevier, vol. 94(C).
    31. Xu, Xin & An, Haizhong & Huang, Shupei & Jia, Nanfei & Qi, Yajie, 2024. "Measurement of daily climate physical risks and climate transition risks faced by China's energy sector stocks," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 625-640.
    32. Zhang, Juan & Miao, Xiaoming & Shang, Tiantian, 2025. "Impact mechanism of digital transformation on supply chain resilience," Finance Research Letters, Elsevier, vol. 76(C).
    33. Ru, Xue & Si, Fangjie & Lei, Pengfei, 2024. "Research on the impact of environmental regulation on enterprise high-quality development," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    34. Zheng, Xuemei & Zou, Fenju & Liu, Ziwei & Nepal, Rabindra, 2025. "How does digitalization affect capacity utilization in the energy sector? Evidence from China," Energy Economics, Elsevier, vol. 144(C).
    35. Lin, Boqiang & Xie, Yongjing, 2024. "The role of venture capital in determining the total factor productivity of renewable energy enterprises: In the context of government subsidy reduction," Energy Economics, Elsevier, vol. 132(C).
    36. Wang, Minglu & Ouyang, Kexin & Jing, Peng, 2025. "Dynamic interplay of energy uncertainty, supply chain disruption, and digital transformation on China's renewable energy stocks," Energy Economics, Elsevier, vol. 141(C).
    37. Zhu Yan & Jing Jian Xiao & Qiong Sun, 2024. "Moving up toward sustainable development: Digital finance and income mobility," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(5), pages 5742-5763, October.
    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. Feng, Langang & Hu, Jin & Wu, Kaiya & Irfan, Muhammad & Wei, Xiaorui, 2026. "Digitizing supply chains to boost renewable energy technological innovation," Renewable Energy, Elsevier, vol. 260(C).
    2. Du, Weijian & Cheng, Cheng & Li, Mengjie, 2025. "Can listed company digitization reduce the risk of export failure? Evidence from multisource heterogeneous data in China," International Review of Economics & Finance, Elsevier, vol. 103(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. Tao Wang & Yang Shen, 2025. "Unlocking the potential of supply chain digitalization for enhancing enterprise green transformation performance: evidence from China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-16, December.
    2. Dou, Jie & Su, Chi Wei & Li, Wenyu & Dou, Junfeng, 2025. "Green finance and artificial intelligence: Catalysts for promoting sustainability?," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 13-25.
    3. Shahzad, Umer, 2025. "Achieving clean energy transitions: How green innovation and financial development shape energy usage," Energy Economics, Elsevier, vol. 150(C).
    4. Zhou, Youcheng & Li, Bingchen & Zhao, Mengqi, 2025. "Asymmetric association between supply chain bottlenecks and consumer energy prices: Evidence from quantile-on-quantile approach," Energy Economics, Elsevier, vol. 147(C).
    5. Ning, Jiajun & Xiong, Lixin & Shao, Changhua, 2025. "Dynamic evolution analysis of enterprises digital technology innovation strategies in energy supply chain collaboration: A bargaining theory perspective," Energy Economics, Elsevier, vol. 151(C).
    6. Qin, Yang & Liu, Wei, 2025. "Digital payment penetration and regional consumption inequality," Finance Research Letters, Elsevier, vol. 85(PD).
    7. Han, Guanzhe & Li, Fenglei, 2025. "Digital economy of trading partner countries, outward investment, and cross-border E-commerce exports," Finance Research Letters, Elsevier, vol. 85(PB).
    8. Xu, Zhen, 2025. "The new driving force for improving tourism resource allocation efficiency: The mechanism of digital finance," Finance Research Letters, Elsevier, vol. 85(PC).
    9. Meng, Lamei & Wang, Huijun & Liao, Liyi, 2025. "The dynamic impact mechanism of digital government development on enterprise digital transformation: A quasi-natural experiment analysis based on big data governance institutional reform," Finance Research Letters, Elsevier, vol. 85(PD).
    10. Zhang, Huatao & Bi, Tao & Shen, Yunqiao & Tu, Sophia Zimeng, 2025. "The effects of intellectual property protection on corporate digital transformation," International Review of Economics & Finance, Elsevier, vol. 103(C).
    11. Qi, Qiao & Du, Xiaojun & Hou, Yingying & Li, Zhitang, 2025. "Planning a clean future: energy policy communication and energy technology innovation," Energy, Elsevier, vol. 335(C).
    12. Ge, Tao & Hao, Zixuan & Dai, Dongyu, 2025. "Independent R&D or technology imports? The induced innovation effects of energy intensity constraints," Technology in Society, Elsevier, vol. 83(C).
    13. Zhao, Zijian & Liu, Qiang & Qiu, Yunzhe, 2025. "Impact of supply chain digitalization on total factor productivity of agricultural enterprises," International Review of Financial Analysis, Elsevier, vol. 107(C).
    14. Gao, Kang & Zhao, Xu & Guo, Ran & Guo, Ziyu, 2025. "Identifying roles of a cleaner energy consumption structure in industrial green transformation: A multi-dimensional perspective considering spatial spillovers and transmission mechanisms," Energy, Elsevier, vol. 323(C).
    15. Song, Hongti & Chen, Wei, 2025. "A digital blueprint for sustainability: Can digital infrastructure policies promote renewable energy innovation?," Renewable Energy, Elsevier, vol. 244(C).
    16. Zhang, Zhongjie & Yu, Yang, 2025. "The nonlinear impact of data factor flow on coordinated regional economic development: based on the moderating effect of digital infrastructure," Finance Research Letters, Elsevier, vol. 85(PC).
    17. Guo, Lixing & Kuang, Zengjie, 2025. "How does digitalization of the supply chain accelerate the sustainable development of listed companies in the new energy sector?," International Review of Economics & Finance, Elsevier, vol. 103(C).
    18. Wang, Qiang & Zhang, Siqi & Li, Rongrong, 2026. "Artificial intelligence in the renewable energy transition: The critical role of financial development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 226(PA).
    19. Li, Zhengzheng & Xing, Youze & Shao, Xuefeng & Zhong, Yifan & Su, Yun Hsuan, 2025. "Transitioning the energy landscape: AI's role in shifting from fossil fuels to renewable energy," Energy Economics, Elsevier, vol. 149(C).
    20. Wu, Lang & Shi, Junwei, 2025. "From peer influence to green cognition: How digital transformation fosters renewable energy innovation in manufacturing," Energy Economics, Elsevier, vol. 148(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

    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:reveco:v:103:y:2025:i:c:s1059056025006239. 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/inca/620165 .

    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.