IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v95y2024ics1059056024004234.html
   My bibliography  Save this article

Evaluating the synergistic effects of the digital economy and carbon emission trade exchange on enterprise high-quality development

Author

Listed:
  • Cai, Qihai
  • Jiang, Fangxin
  • Lei, Pengfei

Abstract

Digital economy and carbon reduction are the keys to sustainable development. However, whether these two policy tools synergistically affect enterprise remains inconclusive. The implementation of the National Big Data Comprehensive Pilot Zone and the Carbon Emission Trading Pilot Policy in China provides a unique opportunity for empirical examination. Building on a panel dataset of A-share-listed manufacturing enterprises from 2010 to 2021 in China, this study investigates the synergistic effects of the two pilot policies on enterprise high-quality development (HQD). The empirical results indicate the following: 1. The implementation of the two pilot policies has positive effects on enterprise HQD. 2. Heterogeneity analysis shows that the two pilot policies exhibit stronger effects on non-state-owned enterprises, high-tech enterprises, heavy-polluting enterprises, and enterprises registered in the core cities. 3. Carbon reduction can synergize with the digital economy to effectively promote enterprise HQD. 4. The synergistic effects can be further strengthened by the digital development environment, the level of data utilization, and resource allocation efficiency. These findings provide both theoretical and practical implications for shaping policy frameworks to consolidate sustainable development.

Suggested Citation

  • Cai, Qihai & Jiang, Fangxin & Lei, Pengfei, 2024. "Evaluating the synergistic effects of the digital economy and carbon emission trade exchange on enterprise high-quality development," International Review of Economics & Finance, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:reveco:v:95:y:2024:i:c:s1059056024004234
    DOI: 10.1016/j.iref.2024.103431
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056024004234
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2024.103431?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. Liao, Kezhi & Ma, Chengcheng & Zhang, Jingxue & Wang, Zhihao, 2024. "Does big data infrastructure development facilitate bank fintech innovation? Evidence from China," Finance Research Letters, Elsevier, vol. 65(C).
    2. Lee, Chien-Chiang & Tang, Manting & Lee, Chi-Chuan, 2023. "Reaping digital dividends: Digital inclusive finance and high-quality development of enterprises in China," Telecommunications Policy, Elsevier, vol. 47(2).
    3. Song, Malin & Peng, Licheng & Shang, Yuping & Zhao, Xin, 2022. "Green technology progress and total factor productivity of resource-based enterprises: A perspective of technical compensation of environmental regulation," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Samira Moghaddamzadeh Kashani & Mahmoud Mousavi Shiri, 2022. "The Role of Corporate Governance in Investment Efficiency and Financial Information Disclosure Risk in Companies Listed on the Tehran Stock Exchange," JRFM, MDPI, vol. 15(12), pages 1-22, December.
    5. Wei, Xiahai & Li, Hujian & Wang, Yao, 2024. "Does big data infrastructure development promote new enterprises entry: Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    6. Ren, Xiaohang & liu, Ziqing & Jin, Chenglu & Lin, Ruya, 2023. "Oil price uncertainty and enterprise total factor productivity: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 201-218.
    7. Amil Petrin & James Levinsohn, 2005. "Measuring Aggregate Productivity Growth Using Plant-Level Data," Working Papers 552, Research Seminar in International Economics, University of Michigan.
    8. Diego Restuccia & Richard Rogerson, 2008. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 707-720, October.
    9. Wu, Xiuqin & Zhao, Jinsong & Zhang, Dayong & Lee, Wen-Chieh & Yu, Chin-Hsien, 2022. "Resource misallocation and the development of hydropower industry," Applied Energy, Elsevier, vol. 306(PA).
    10. Nambisan, Satish & Wright, Mike & Feldman, Maryann, 2019. "The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes," Research Policy, Elsevier, vol. 48(8), pages 1-1.
    11. Alaimo, Cristina & Kallinikos, Jannis, 2022. "Organizations decentered: data objects, technology and knowledge," LSE Research Online Documents on Economics 112470, London School of Economics and Political Science, LSE Library.
    12. Lyu, Yanwei & Xiao, Xuan & Zhang, Jinning, 2024. "Does the digital economy enhance green total factor productivity in China? The evidence from a national big data comprehensive pilot zone," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 183-196.
    13. Wang, Wei & Zhang, Hongguang & Sun, Ziyuan & Wang, Lihong & Zhao, Jianying & Wu, Fengzhi, 2023. "Can digital policy improve corporate sustainability? Empirical evidence from China's national comprehensive big data pilot zones," Telecommunications Policy, Elsevier, vol. 47(9).
    14. Li, Cong & Liu, Jiaxuan & Liu, Yuwei & Wang, Xiaoyu, 2023. "Can digitalization empowerment improve the efficiency of corporate capital allocation? —Evidence from China," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1794-1810.
    15. Liu, Shanmin & Zhuo, Yangyuan & Shen, Xinyue & Cai, Mengda & Yang, Ye, 2023. "The impact of declined social insurance contribution rate on enterprise total factor productivity: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 87(C).
    16. repec:ags:aaea22:335879 is not listed on IDEAS
    17. 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).
    18. Lin, Runhui & Xie, Zaiyang & Hao, Yunhong & Wang, Jie, 2020. "Improving high-tech enterprise innovation in big data environment: A combinative view of internal and external governance," International Journal of Information Management, Elsevier, vol. 50(C), pages 575-585.
    19. Raguseo, Elisabetta, 2018. "Big data technologies: An empirical investigation on their adoption, benefits and risks for companies," International Journal of Information Management, Elsevier, vol. 38(1), pages 187-195.
    20. Duan, Dingyun & Chen, Shaojian & Feng, Zongxian & Li, Jun, 2023. "Industrial robots and firm productivity," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 388-406.
    21. Wang, Lan, 2023. "Digital transformation and total factor productivity," Finance Research Letters, Elsevier, vol. 58(PA).
    22. Dan Lovallo & Alexander L. Brown & David J. Teece & David Bardolet, 2020. "Resource re‐allocation capabilities in internal capital markets: The value of overcoming inertia," Strategic Management Journal, Wiley Blackwell, vol. 41(8), pages 1365-1380, August.
    23. Cheng, Yiran & Zhou, Xiaorui & Li, Yongjian, 2023. "The effect of digital transformation on real economy enterprises’ total factor productivity," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 488-501.
    24. Michael E. Porter & Claas van der Linde, 1995. "Toward a New Conception of the Environment-Competitiveness Relationship," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 97-118, Fall.
    25. Chaoyong Qin & Meng Zhang & Chengxinge Yang, 2024. "Can National Big Data Comprehensive Experimental Zones Boost the Development of Regional Green Finance? Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 60(3), pages 541-556, February.
    26. Carl, Jeremy & Fedor, David, 2016. "Tracking global carbon revenues: A survey of carbon taxes versus cap-and-trade in the real world," Energy Policy, Elsevier, vol. 96(C), pages 50-77.
    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. Chen, Songyi & Fan, Qianqian, 2025. "Can market-based environmental regulation promote corporate intelligent transformation: Evidence from the carbon emission trading system," Finance Research Letters, Elsevier, vol. 76(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. Guangya Zhou & Helian Xu & Chuanzeng Jiang & Shiqi Deng & Liming Chen & Zhi Zhang, 2024. "Has the Digital Economy Improved the Urban Land Green Use Efficiency? Evidence from the National Big Data Comprehensive Pilot Zone Policy," Land, MDPI, vol. 13(7), pages 1-25, June.
    2. Li, Yiping & Zheng, Lanxing & Xie, Chang & Fang, Jiming, 2024. "Big data development and enterprise ESG performance: Empirical evidence from China," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 742-755.
    3. Lei, Pengfei & Cai, Qihai & Jiang, Fangxin, 2024. "Assessing the impact of environmental regulation on enterprise high-quality development in China: A two-tier stochastic frontier model," Energy Economics, Elsevier, vol. 133(C).
    4. Xu, Yuanbin & Wei, Yuan & Zeng, Xin & Yu, Haiqing & Chen, Hongjie, 2024. "Big data development and labor income share: Evidence from China's national big data comprehensive pilot zones," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1415-1437.
    5. Lu, Shan & Peng, Sihan & Shi, Jiaxin & Zhang, Ci & Feng, Yanchao, 2024. "How does digital transformation affect the total factor productivity of China's A-share listed enterprises in the mineral resource-based sector?," Resources Policy, Elsevier, vol. 94(C).
    6. Xu, Chongchong & Lin, Boqiang, 2025. "The AI-sustainability Nexus: How does intelligent transformation affect corporate green innovation?," International Review of Financial Analysis, Elsevier, vol. 102(C).
    7. Xiao, Bingyu & Gong, Guangming & Xiao, Liang, 2025. "Does the work experience of regulatory leaders at local companies affect the productivity of state-owned enterprises? Evidence from China," Economic Modelling, Elsevier, vol. 145(C).
    8. Sun, Jianhua & Hou, Shaobo & Deng, Yuxia & Li, Huaicheng, 2024. "New media environment, green technological innovation and corporate productivity: Evidence from listed companies in China," Energy Economics, Elsevier, vol. 131(C).
    9. Jin, Laiqun & Dai, Jiaying & Jiang, Weijie & Cao, Kairui, 2023. "Digital finance and misallocation of resources among firms: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 66(C).
    10. Weili Li, 2025. "Optimizing Enterprise Productivity in the Digital Economy: A Genetic Algorithm and Multi-Objective Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 2670-2688, March.
    11. Huang, Xiaozhi & Yao, Yuanhu, 2024. "The effect of executive team heterogeneity on firms’ total factors of production: Evidence from China," Research in International Business and Finance, Elsevier, vol. 70(PA).
    12. Tan, Jianhua & Hua, Min & Chan, Kam C., 2024. "Do anticipated government environmental audits improve firm productivity? Evidence from China," Finance Research Letters, Elsevier, vol. 61(C).
    13. Wu, Tao & Xu, Wenxuan & Kung, Chih-Chun, 2025. "The impact of data elements on urban sustainable development: Evidence from the big data policy in China," Technology in Society, Elsevier, vol. 81(C).
    14. Huang, Hongyun & Mbanyele, William & Wang, Fengrong & Song, Malin & Wang, Yuzhang, 2022. "Climbing the quality ladder of green innovation: Does green finance matter?," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    15. Xiao, Zhongyi & Li, Yuanling & Xiang, Cheng, 2025. "Do suppliers value customer firms' digital transformation? Evidence from trade credit provision," International Review of Financial Analysis, Elsevier, vol. 99(C).
    16. Chen, Jinrui & Zhang, Yichang, 2025. "Substantive change or strategic response? Digital industrial convergence policy and urban green innovation," Innovation and Green Development, Elsevier, vol. 4(1).
    17. Ge, Shilong & Luo, Xiaodan & Li, Yuangang & Zheng, Lanxing, 2024. "The impact of green credit policy on total factor productivity of enterprises," International Review of Economics & Finance, Elsevier, vol. 95(C).
    18. Zhang, Wei & Li, Guoxiang & Guo, Fanyong, 2022. "Does carbon emissions trading promote green technology innovation in China?," Applied Energy, Elsevier, vol. 315(C).
    19. Yang, Mian & Hong, Yili & Yang, Fuxia, 2022. "The effects of Mandatory Energy Efficiency Policy on resource allocation efficiency: Evidence from Chinese industrial sector," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 513-524.
    20. Jiang, Tangyang & Cao, Chi & Lei, Leyuan & Hou, Jie & Yu, Yang & Jahanger, Atif, 2023. "Temporal and spatial patterns, efficiency losses and impact factors of energy mismatch in China under environmental constraints," Energy, Elsevier, vol. 282(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:reveco:v:95:y:2024:i:c:s1059056024004234. 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.