No full-text available
To read the full-text of this research,
you can request a copy directly from the authors.
The impact of digital transformation on enterprise green innovation
... The concept of greenwashing was first proposed by American environmentalists in 1986 and was initially defined as the act of disguising the pursuit of economic interests as environmental protection [5]. Nowadays, greenwashing refers to companies attempting to establish an image of environmental responsibility through false, untrue, and misleading means [6]. ...
... The late establishment and incomplete system of corporate environmental information disclosure in China have perpetuated corporate greenwashing behavior [2,10]. Moreover, with increasing environmental protection pressures, an increasing number of enterprises are establishing their own environmentally friendly image through greenwashing, attempting to achieve economic benefits with minimal environmental protection measures [5]. This is especially true for heavily polluting enterprises, which are characterized by high energy consumption, high pollution, and high carbon emissions; their extensive production methods often focus on economic benefits while neglecting environmental costs [11], making greenwashing behavior more common. ...
... On the one hand, as an innovative organizational change [16], digital transformation has long been considered an important approach to optimizing management processes and business models to achieve the long-term sustainable development of enterprises [41]. Heavily polluting enterprises undergoing digital transformation can send a positive signal to the external capital market [5], indicating their efforts at building core competencies and creating long-term value. In this way, digital transformation has become a focus of the external market and has gained continuous attention from all sectors of society. ...
Identifying and governing enterprises’ greenwashing behavior is important for achieving green and low-carbon development. This behavior can be governed via digital transformation. Based on data from listed companies from 2013 to 2021, this article examines the impact of the digital transformation of heavily polluting enterprises on their greenwashing behavior, with an empirical analysis revealing that it can significantly inhibit this behavior. A mechanism analysis indicates that the digital transformation of heavily polluting enterprises reduces greenwashing behavior by enhancing the level of enterprise green technological innovation and improving investor attention. A heterogeneity analysis shows that the impact of enterprise digital transformation on greenwashing behavior is more significant among the private and highly competitive heavily polluting enterprises located in central China. The research conclusions of this article indicate that digital transformation is important for curbing enterprises’ greenwashing behavior and achieving green and sustainable development.
... Eventually, numerous countries actively participate in securing the environment from environmental hazards and developing government regulations for manufacturing firms to save the environment (Liu & Song, 2023). However, over the past few decades, many nations have seen exponential economic growth and modernization toward green, as the conflict between ecological preservation and economic advancement is a global concern (Xu et al., 2024). In this regard, prior research suggested that there should be some solutions to control and solve the current global crisis as well as to achieve the "United Nations 2030 Sustainable Development Goals" toward climate change, pandemics, unusual population growth, and quality food (Rowan & Casey, 2021). ...
... In the age of big data, blockchain, artificial intelligence (AI), and the Internet of Things (IoT), these new technologies have had a positively profound impact on human production processes, and lifestyles, which affects enterprise circulation and distribution techniques in both internal and external invention aspects (Sareen & Haarstad, 2021), assisting green innovation. In this regard, many studies have recently revealed that digital transformation positively affects corporate green innovation statistically (He & Chen, 2024;Lin & Xie, 2024;Xu et al., 2024). Therefore, we propose as follows: ...
... Other studies also found that the utilization of digital transformation (Alvarenga et al., 2020) and artificial intelligence (AI) (Leoni et al., 2022) significantly impacts the implementation and execution of knowledge management procedures . Moreover, the result of the second hypothesis, H1b, shows that digital transformation positively and significantly impacts green innovation, consistent with prior research (He & Chen, 2024;Lin & Xie, 2024;Xu et al., 2024). Additionally, industrial robots (Nie et al., 2022), manufacturing intelligence , and blockchain technology (Chin et al., 2022) positively affect green innovation. ...
Due to change in climate and environment, firms are actively seeking to bring solutions through adopting green innovation. This paper investigates the impact of digital transformation, responsible leadership, and corporate social responsibilities on green innovation and tests how knowledge sharing mediates the above relationship. The resource-based theory is used as the underlying framework for modeling our conceptualized arguments. Moreover, a moderated mediation analysis is performed based on collected data from 458 hierarchy-level employees from manufacturing small and medium-sized enterprises (SMEs) in Pakistan with a cross-sectional and random sampling method. The study finds the positive relationships between digital transformation, responsible leadership, corporate social responsibility, and green innovation where knowledge sharing significantly mediates the above relationship. Further, organizational culture moderates the path between knowledge sharing and green innovation. The paper recommends to encourage the value of digitalization and corporate social responsibility in SMEs to form green innovation.
... Firstly, state-owned companies typically receive more government resources and policy support than non-state-owned companies, providing them with essential funding and technical backing for their digital transformation efforts [89,90]. This disparity arises from the Chinese government's continued significant role in resource allocation. ...
... Conversely, state-owned companies tend to receive more credit support during banks' lending decisions due to their backing from local government credit. In addition, state-owned sports companies have greater opportunities to access advanced technologies and information resources [90]. They typically can apply for government special funds for scientific and technological research to support the development of smart equipment and sports gear. ...
... The nature of property rights for companies was represented as a binary variable: it took a value of 1 for state-owned companies and a value of 0 for non-state-owned companies [90]. The level of environmental regulation was measured by the proportion of the amount invested in wastewater and air pollution control in a given year to the industrial output value of that year [18], based on the location of the listed companies. ...
In the context of the “dual carbon” strategic goal and sustainable development, the digital transformation of sports companies has emerged as a crucial factor in overcoming barriers to green growth and addressing institutional and efficiency challenges. This study examines the mechanism by which digital transformation drives green innovation, using a sample of Chinese-listed companies in the sports industry from 2011 to 2022. Fixed effects models were employed. The study’s findings are as follows: (1) Digital transformation has a significant positive impact on green innovation, indicating that the digitalization of companies plays a crucial role in promoting green practices. (2) A mechanism analysis revealed that digital transformation facilitates green innovation by enhancing human capital and improving internal control levels. (3) A heterogeneity analysis demonstrated that stricter environmental regulations strengthen the driving effect of digital transformation. Moreover, state-owned sports companies exhibit a stronger endogenous impetus for green innovation than non-state-owned companies, driven by their alignment with national strategic planning, thus enhancing the role of digital transformation. This study contributes to the literature by offering insights into the integration of digitization and green innovation. Furthermore, it provides practical guidance and path selection for achieving coordinated digitization and green innovation in Chinese sports companies within the framework of the “dual carbon” goal.
... While innovation in general has garnered considerable attention, the specific realm of green innovation, including sustainable innovation and environmental innovation, is gaining increasing prominence in both academic and practical spheres (Yang et al., 2024). green innovation involves the development and implementation of new products, processes, or technologies that aim to minimize environmental impact or promote sustainability (tang et al., 2023;Xu et al., 2024). sustainable innovation, on the other hand, focuses on creating value for society and the environment while simultaneously driving economic growth (schiederig et al., 2012). ...
... Digital solutions such as internet of things (iot), big data analytics and artificial intelligence can enable organizations to optimize energy usage, improve waste management processes and develop eco-friendly products (alahmad et al., 2021; li et al., 2023). additionally, digital platforms can facilitate collaboration and knowledge-sharing among stakeholders to promote sustainable practices across supply chains and industries (Xu et al., 2024). hence, digital innovation plays a pivotal role in driving green innovation by providing organizations with the tools and capabilities to address environmental challenges effectively. ...
... effective leadership plays a pivotal role in fostering innovation by providing direction, support and resources necessary for innovation initiatives to thrive. additionally, the positive moderation effect of innovative leadership between iWB and digital innovation underscores the importance of a supportive leadership environment in fostering employee creativity and innovation (shen et al., 2022;Xu et al., 2024). however, the lack of significant moderation impact of innovative leadership between digital innovation and green innovation suggests potential areas for further exploration. ...
This study examines the dynamics of digital and green innovation within organizational contexts, focusing on the interplay between innovative work behavior, innovative leadership and the adoption of digital technologies. Survey data were collected from employees working in private sector organizations in Saudi Arabia, using a questionnaire encompassing key constructs related to digital and green innovation. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM), revealing significant relationships between the variables under investigation. The results indicate that innovative work behavior positively influences digital innovation, while digital innovation in turn facilitates green innovation. Innovative leadership emerges as a critical factor influencing both digital and green innovation, with strong positive associations found between innovative leadership and innovation outcomes. Furthermore, the study underscores the importance of fostering a culture of innovation and investing in leadership development to drive both digital and green innovation effectively. The implications of these findings extend to organizations, policymakers and researchers, highlighting the importance of promoting innovation and sustainability initiatives in organizational and societal contexts. This study contributes to the understanding of the drivers of digital and green innovation, offering insights for organizations seeking to enhance their competitiveness and promote environmental sustainability in an increasingly digitalized world.
... The results showed that DT promotes enterprises to engage in more and higher-quality GI activities by influencing environmental attention, and there are spatial spillover effects [23]. Xu et al. (2024) found that DT promotes GI in enterprises by increasing R&D investment and information disclosure, and this effect is particularly notable in high-tech enterprises [24]. With the implementation of the NAIPZ in China, scholars have used this event as a quasi-natural experiment and evaluated the micro effects of the NAIPZ using the difference-in-difference method. ...
... The results showed that DT promotes enterprises to engage in more and higher-quality GI activities by influencing environmental attention, and there are spatial spillover effects [23]. Xu et al. (2024) found that DT promotes GI in enterprises by increasing R&D investment and information disclosure, and this effect is particularly notable in high-tech enterprises [24]. With the implementation of the NAIPZ in China, scholars have used this event as a quasi-natural experiment and evaluated the micro effects of the NAIPZ using the difference-in-difference method. ...
Against the backdrop of addressing global climate change, whether the new generation of information technology, centered on artificial intelligence (AI), can promote comprehensive green transformation and achieve the “dual carbon” goal has become an important issue in China’s national development strategy. The research objective of this paper is to explore the causal relationship between AI and green innovation (GI). In this study, we conduct a quasi-natural experiment using the National New Generation Artificial Intelligence Innovation and Development Pilot Zone (NAIPZ). On the basis of data from A-share-listed companies from 2013 to 2022, we use a staggered difference-in-difference model to study the impact and mechanism of AI on corporate GI. Research results show that AI can improve the GI of enterprises. Mechanism analysis results show that AI promotes GI in enterprises by improving internal governance and optimizing human capital, while industry competition can increase the promotion effect of AI on GI. Heterogeneity analysis results indicate that the promotion effect of AI on GI is particularly prominent in the eastern region, high-tech industries, and non-state-owned enterprises. This study addresses the important question of whether the NAIPZ can promote GI in enterprises, thereby providing empirical evidence and policy references for accelerating the integration and development of AI and GI in China.
... Scholars have attempted to explore the driving factors of green innovation capabilities and willingness in enterprises from various perspectives. Some scholars have analyzed the impact of internal driving forces such as managers [7], corporate governance [8], enterprise size [9], and digital technology [10] on green innovation in enterprises. Similarly, scholars have also analyzed external factors such as the role of policies and regulations [11], research and development subsidies [12], and financial services [13] in promoting green innovation in enterprises. ...
... In this context, with the improvement of regional digital infrastructure and the improvement of government digital services, enterprises will be encouraged to carry out green innovation. According to relevant scholars' research, digital transformation's role in promoting enterprises' green innovation is reflected in reducing costs and expanding financing channels [10]. In addition, enterprises undergoing digital transformation quickly attract more attention from governments, media, and investors. ...
The optimization of the business environment makes regional economic development more dynamic. Whether this can be used as an influencing factor to promote the green innovation of enterprises is worthy of attention. Based on the concept of digitalization and green collaborative transformation, combined with the panel data of A-share listed companies in China’s capital market from 2016 to 2020 and the corresponding business environment index of each province, this paper empirically tests the impact of business environment optimization on enterprises’ green innovation and its channel mechanism by using a two-way fixed-utility model. The findings are as follows: Firstly, business environment optimization has a significant positive impact on enterprises’ green innovations, and this conclusion is still valid after a series of endogenous and robustness tests. Secondly, business environment optimization can foster conditions conductive to green innovation by promoting enterprises’ digital transformation. Through empirical tests, a chain-channel mechanism is identified whereby business environments can promote enterprises’ green innovation via digital transformation, innovation ability, and a willingness to pursue environmental management. Finally, further analysis reveals significant heterogeneity in the positive impact of business environment optimization on green innovation, with a more pronounced positive impact in state-owned enterprises, high-tech enterprises, and low-polluting enterprises. The research findings of this paper provide a specific reference and basis for the Chinese government to further optimize the business environment and effectively promote the green innovation of enterprises.
... Currently, research on digitization and greening is relatively scattered, with only a few scholars focusing on the impact of digital transformation on green innovation [11]. Despite this, most studies mainly concentrate on how digital transformation directly influences enterprises' green innovation behavior and capabilities, neglecting the exploration of intrinsic connections and impact mechanisms from macro and systemic perspectives, such as green investment and industrial policies. ...
... In exploring the complex relationships between digital transformation, green transformation, green investment, and industrial policies in the manufacturing industry, this study has uncovered several key findings that contribute to and expand upon the existing literature: Firstly, this study demonstrates that digital transformation significantly promotes green transformation in manufacturing enterprises, confirming the positive impact of digital technology on environmental sustainability. This finding echoes the growing literature emphasizing the crucial role of digital transformation in enhancing resource utilization efficiency and fostering green innovation [11,40]. This result adds empirical support to the existing literature and deepens our understanding of how digital technology shapes the future green economic model. ...
... In the era of digital economy, Chinese firms have carried out digital transformation which to the hybridization and integration of artificial intelligence, blockchain, cloud computing and big data, aiming to reshape the firm's business model (Akter et al., 2022) to seize the opportunity to achieve transformation. Research shows that digital transformation has become an important support for firm green innovation (Xu et al., 2024), because it can reduce information asymmetry, promote the integration of dispersed resources, increase energy efficiency, improve operational efficiency and reduce costs, and thus can promote firm green innovation (Santoalha et al., 2021). The impact of digital transformation on firms green innovation in strategic emerging industries characterized by technology-intensive is more prominently, as green development is one of the main missions of these firms . ...
... In other words, the digital transformation is an important nexus between the fintech and firm green innovation. This finding align with previous research holding that fintech plays a crucial role in driving digital transformation (Luo, 2022), and offer support for the argument that digital transformation can have a positive and statistically significant impact on firm green innovation (Xu et al., 2024). Moreover, the heterogeneity analysis finds that the positive effect of the fintech on firm green innovation is heterogeneous in different regions with different levels of economic development, and the effect is stronger in eastern region more perfect economic infrastructure, financial facilities, institutional environment, which is in line with the existing literature that emphasizes the importance of regional characteristics in shaping the effectiveness of fintech (e.g., Wu et al., 2023;Yang & Wang, 2022). ...
... As the moderating variables of digital transformation to realize the effect of pollution mitigation and carbon abatement, the accurate measurement of green innovation and green investment is also crucial. First, referring to related studies (Xiang et al., 2022;Xu et al., 2024), the sum of the number of green patents, green invention patents, and green utility model patents of an enterprise is used to indicate the degree of green innovation of an enterprise. ...
Digitization has become an enabler of green development, and its joint impact on the environment has yet to be fully investigated. Using data from Chinese A-share manufacturing firms from 2013 to 2022, this paper integrated the multidimensional fixed-effects model, Entropy method, Instrumental variable model, and Moderating effect model to measure the green benefits of digitalization. Findings reveal that digital transformation significantly inhibits CO2 and pollution emissions; that is, there is an increased synergy between them. This conclusion satisfies the robustness test and the endogeneity test. Further, manufacturing firms also reinforce digital transformation's pollution and carbon reduction effects through green innovation and green investment. Heterogeneity analyses indicate that the green benefits of digitization are more pronounced for state-owned enterprises, firms with standard audit opinions, technology-intensive and capital-intensive firms, and firms located in the eastern and western. This paper considers the impact of digitization on the multidimensional environment and validates the synergistic environmental effects of the digital revolution. It provides meaningful practical guidance for the digitalization and greening of enterprises.
... In the context of the digital economy era, the impact of digital transformation on corporate green innovation has become increasingly significant, yet research in this area remains contentious. Some studies argue that digital transformation promotes green innovation C. Xu et al., 2024). Through digital technologies, firms can achieve more efficient resource allocation and production process optimization. Digital tools such as cloud computing and artificial intelligence enable firms to identify and implement green technological solutions more rapidly, accelerating the pace of green innovation (J. Xu et al., 2023). This ...
This study examines the impact of digital transformation on green innovation in manufacturing firms and its underlying transmission mechanisms, using a sample of A-share listed manufacturing companies in Shanghai and Shenzhen from 2011 to 2022. It also explores the external supportive role of digital finance. The findings reveal that digital transformation significantly enhances firms’ green innovation capabilities, with this effect primarily driven by two mechanisms: the “risk effect” and the “reputation effect.” Contextual analysis indicates that in regions with more advanced digital financial development, state-owned enterprises benefit more from digital transformation in promoting green innovation. However, the green innovation-driving effect of digital transformation in non-state-owned enterprises is inhibited in such regions. Further analysis shows that digital transformation also improves the efficiency of green innovation. These findings provide theoretical support for deepening the digital transformation of manufacturing enterprises and promoting high-quality economic development.
... Furthermore, DT promotes cost optimization through automation and improves value chains [27]. It can also contribute to sustainability by reducing companies' carbon footprints through optimized resource management and digitalized practices [28,29]. According to Sebastian et al. [13], this transformation enhances companies' dynamic capabilities, enabling them to adapt to market disruptions while maximizing financial and operational performance. ...
Digital transformation (DT) has become an imperative for companies seeking to evolve in a constantly changing industrial ecosystem, driven by the continual development and application of innovative digital technologies. Nevertheless, the success rate of DT initiatives remains surprisingly low, which only serves to highlight the need for a deeper understanding of the factors that determine the success of these initiatives. This study adopts a quantitative methodological approach to address this challenge, focusing on the Moroccan insurance industry. First, a systematic literature review was undertaken to identify the key change dimensions and related factors that influence DT acceptance, at both individual and corporate levels, as well as the potential risks associated with the adoption of DT. A survey of 100 employees of insurance companies in Morocco was then undertaken to statistically establish the key factors that determine the success of DT in these companies. The research results reveal that planned behavioral factors, as well as the innovative features of digital technologies, exert a positive influence on the attitude toward the acceptance of DT. Furthermore, this positivity translates into greater personal acceptance of new technologies within the Moroccan organizations studied. Although this paper focuses on one industry sector in one country, the authors believe the results make a valid contribution to both theory and practice. The findings indicate a clear distinction between individual acceptance of innovation and acceptance at a social level, an approach that has scarcely been addressed in previous research. It also offers valuable insights for leaders and organizational managers seeking to succeed in their DT projects by highlighting key determining factors to effectively guide this complex process.
... Furthermore, DT promotes cost optimization through automation and improves value chains [27]. It can also contribute to sustainability by reducing companies' carbon footprints through optimized resource management and digitalized practices [28,29]. According to Sebastian et al. [13], this transformation enhances companies' dynamic capabilities, enabling them to adapt to market disruptions while maximizing financial and operational performance. ...
Digital transformation (DT) has become an imperative for companies seeking to evolve in a constantly changing industrial ecosystem, driven by the continual development and application of innovative digital technologies. Nevertheless, the success rate of DT initiatives remains surprisingly low, which only serves to highlight the need for a deeper understanding of the factors that determine the success of these initiatives. This study adopts a quantitative methodological approach to address this challenge, focusing on the Moroccan insurance industry. First a systematic literature review was undertaken to identify the key change dimensions and related factors that influence DT acceptance, at both individual and corporate levels, as well as the potential risks associated with the adoption of DT. A survey of 100 employees of insurance companies in Morocco was then undertaken, to statistically establish the key factors that determine the success of DT in these companies. Research results reveal that planned behavioral factors, as well as the innovative features of digital technologies, exert a positive influence on the attitude towards acceptance of DT. Furthermore, this positivity translates into greater personal acceptance of new technologies within the Moroccan organizations studied. Although the paper focuses on one industry sector in one country, the authors believe the results make a valid contribution to both theory and practice. The findings indicate a clear distinction between individual acceptance of innovation and acceptance at a social level, an approach that has scarcely been addressed in previous research. It also offers valuable insights for leaders and organizational managers seeking to succeed in their DT projects by highlighting key determining factors to effectively guide this complex process.
... Specifically, the policy has a more pronounced positive effect on green innovation resilience for non-stateowned enterprises and non-heavy polluting enterprises. This finding contrasts with Xu et al. [64] and Li et al. [65], who argue that digitalization has a more significant promoting effect on green innovation for state-owned enterprises and heavy-polluting enterprises. One possible reason is that non-state-owned enterprises face more severe financing issues compared to state-owned enterprises. ...
... Scholars have thoroughly studied various specialized and pilot policies. In terms of specialized policies, studies have found that digital finance subsidies and tax incentives effectively alleviate financial pressures on enterprises, improve their operating conditions, and stimulate innovation, thereby providing sufficient momentum for digital transformation [53]. Regarding pilot policies, it is widely believed that policies related to the development of the digital economy, digital infrastructure construction, and the application of digital technologies, such as digital economy innovation development pilot zones, the "Broadband China" pilot, national big data pilot zones, science and technology finance pilot policies, and smart city pilots, can enhance technological innovation capabilities and optimize resource allocation, effectively empowering local enterprises' digital transformation [18,48,52,59,60]. ...
Digital transformation has become a crucial strategy for enhancing the core competitiveness of enterprises, and the policy of comprehensive pilot zones for cross-border E-commerce in China plays a significant role in accelerating this process. Based on data from Chinese listed companies from 2012 to 2021, this study employs the difference-in-differences approach to examine the positive impact of this policy on the digital transformation of local manufacturing enterprises and its operational mechanisms. The results indicate that the establishment of comprehensive pilot zones positively fosters the digital transformation of local manufacturing enterprises, providing a replicable and referable successful experience for accelerating digital transformation regionally. Moreover, the heterogeneity analysis reveals that the pilot zones in the northern and eastern regions are more effective in promoting digital transformation, and the pilot policy exerts a more pronounced driving effect on large, private, and highly innovative enterprises. Further analysis of mediation mechanisms shows that the comprehensive pilot zones facilitate in-depth digital transformation of enterprises by capitalizing on three major effects: accumulation of human capital, alleviation of capital constraints, and intensification of market competition. The successful implementation of China’s Cross-border E-commerce Comprehensive Pilot Zones serves as an important model for promoting the deep integration of the digital economy with the real economy on a global scale.
... It indicates that green product innovation has a positive impact on firm performance, highlighting the importance of sustainable product development in achieving business success (C. Xu et al., 2024). All the relations of table 06 are statistically significant and present that both digital transformation and green manufacturing practices have major influences on the mediation of firm performance and green product innovation. ...
Purpose: The objective of this research is to determine the impact of green manufacturing practices and digital transformation on firm performance, with a particular focus on the mediating role of green product innovation. Design/Methodology/Approach: The study conducted a survey of 212 employees from various businesses using a questionnaire-based method. The data is analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) to examine the connections between digital transformation, green manufacturing practices, and company performance. The study also investigated the intermediary function of green product innovation in these connections and offered valuable insights into how sustainable practices might enhance corporate performance. Findings: This research indicates that green product innovation plays a vital role in connecting these practices to improved company success. The results suggests that organisations that have used digital transformation technologies are more inclined to foster innovation in environmental friendly goods, so enhancing sustainability and subsequently improving performance. Implications/Originality/Value: The present research contributes to the existing understanding of the impact of digital transformation and green manufacturing techniques on enhancing company performance with a specific emphasis on sustainability. The importance of digital transformation and environmentally-conscious manufacturing methods in improving the sustainability of enterprises is emphasised.
... Considering the effects of resource acquisition and allocation, green innovation requires increased quality innovation resources. Digital transformation significantly alleviates financing constraints, improves firms' financing capabilities [48,[54][55][56], reduces tax burdens, increases government subsidies [57,58], and enhances resource allocation efficiency [59], thereby improving green investment efficacy. In terms of human resources, green innovation increasingly relies on skilled talent [60]. ...
Enhancing the persistence of corporate green innovation is crucial for promoting sustainable societal development. As big data technologies and related policies advance, digitalization emerges as an effective enabler of green innovation in enterprises. This study, grounded in resource-based theory and corporate ecology theory, examines the impact of national-level big data pilot zone reforms on the persistence of corporate green innovation, utilizing data from China’s A-share-listed companies from 2011 to 2021. It also explores the moderating effect of green finance development. Empirical results indicate that (1) the implementation of national-level big data pilot zones positively influences the persistence of green innovation, with robustness and endogeneity tests confirming these findings. (2) The development of regional green finance positively moderates this relationship. (3) A mediation analysis reveals that national-level big data policies enhance innovation persistence by alleviating financing constraints, promoting talent aggregation, and facilitating industrial upgrading. (4) The heterogeneity analysis shows that the positive impact of these reforms is more pronounced in non-state-owned, non-heavy polluting firms, those receiving high subsidies, and in regions with stringent environmental regulations. This study offers a novel theoretical perspective on and empirical evidence for digital transformation from the angle of national policy, supporting societal green development and contributing to policy enhancement aimed at achieving sustainable growth.
... Traditional printing and dyeing techniques include plant dyeing, blue dyeing, etc. Especially the blue dyeing technology, with its unique cultural significance and dyeing effect, has become one of the important dyes for the development of the textile industry in Hubei Province after the Ming and Qing dynasties. [7][8][9][10][11][12] ...
This article aims to explore the empowering role of artificial intelligence (AI) technology in the inheritance and protection of intangible cultural heritage - Jingchu textile culture, and to study its application strategies in art education in the new era. This article first reviews the historical background, traditional techniques, and their status and challenges in modern society of Jingchu textile culture. Subsequently, the current situation of art education is analyzed, and the existing problems and challenges are pointed out. On this basis, this article proposes the feasibility and necessity of combining AI technology with Jingchu textile culture, and elaborates on the application examples of AI technology in textile design, production, educational dissemination, and cultural inheritance. Furthermore, this article constructs a set of integrated innovation strategies, including establishing an AI enabled Jingchu textile culture database, developing interactive teaching platforms, promoting virtual reality and augmented reality technologies, implementing interdisciplinary teaching models, and establishing an integrated cooperation mechanism between industry, academia, and research. This article provides a new perspective and tool for the inheritance of Jingchu textile culture, and provides theoretical and practical support for the innovative development of art education.
... Additionally, digital simulation technology allows users to experience green innovation products in advance, capturing customer value propositions to the greatest extent possible (Leone et al., 2021). This enhances market participants' involvement in the green innovation process, facilitating the efficient matching of supply and demand Xu et al., 2024), thereby improving green innovation products and identifying other potential green innovation directions. ...
The global commitment to carbon neutrality signals the decline of the traditional development paradigm since the Industrial Revolution and the emergence of a new green development model. This study analyzes data from Chinese listed companies between 2011 and 2022 to explore the impact of digital transformation on corporate green innovation.Our findings reveal that higher levels of digital transformation significantly enhance corporate green innovation. This influence operates through mechanisms such as improved corporate information transparency, better internal control quality, and increased absorptive capacity. Notably, the green innovation benefits of digital transformation are more pronounced in state-owned enterprises and heavily polluting industries compared to non-state-owned and less polluting industries. Moreover, digital transformation leads to substantial environmental benefits, particularly by significantly reducing corporate carbon emissions over time. These conclusions provide empirical evidence for assessing the green innovation effects of digital transformation and for developing targeted digital empowerment policies to support corporate green and low-carbon transitions.
... Currently, the definition of digital technology lacks clear and unified definitions. Most scholars use theoretical qualitative digital technology (Xu et al., 2024) or use IPC classification codes and digital patent vocabularies (Lee et al., 2009) to identify digital patents to reflect digital technology. There are also a few quantitative studies based on the frequency of keywords related to annual reports of listed companies to characterize digital transformation (Feng et al., 2022). ...
Digital technology promotes the dual transformation of enterprise digitization and greenization, thereby promoting the synergistic efficiency between the digital economy and the green economy. This paper collected financial data from 2010 to 2021 from Chinese listed companies on the Shanghai and Shenzhen stock exchanges. Through an in-depth semantic analysis of textual data, the study constructed an index to measure the level of enterprise digitization. Utilizing panel data models, the paper explored the impact of digital technology on enterprise green innovation and its mechanisms from the perspectives of quality and quantity. The research findings are as follows: (1) Digital technology significantly enhances the capability of enterprises for green innovation, with an emphasis on quality rather than quantity; (2) digital technology effectively alleviates financing constraints and information constraints, thereby enhancing the level of enterprise green innovation, but the former's effect is limited to small and medium-sized enterprises; (3) the "quality over quantity" effect of digital technology on enterprise green innovation is more pronounced in state-owned enterprises, non-heavy polluting industries, and enterprises located in regions with moderate to low levels of economic development.
... To mitigate the effects of extreme values, in this study, all variables were reduced at the upper and lower 1% levels [57]. In addition, some indicators were treated as natural logarithms to smooth the data distribution [58]. The data used in this paper to construct the digital transformation indicators were obtained from the "Management Discussion and Analysis" of the annual reports of listed companies; the data on negative media coverage were from the CNRDS database; and the data on corporate violations and other variables were from the CSMAR database. ...
Illegal and irregular behavior restricts the development of listed companies. Digital technology provides new opportunities for corporate governance, including the management of corporate violations, and companies are utilizing the “digital express” to achieve organizational restructuring and innovations in governance. In this study, the aim was to clarify whether digital transformation can disincentivize corporate violations in an environment where legal constraints remain inadequate. Therefore, samples of China’s A-share-listed companies were used from 2013 to 2022, including a fixed-effects model to explore the impact of digital transformation on corporate violations. In this study, digital transformation is identified as significantly curbing the incidence of corporate violations. The moderating mechanism test shows that audit quality, analyst attention, and negative media reports all strengthen the inhibitory effect of digital transformation on corporate violations to varying degrees. Heterogeneity analysis identifies that the inhibitory effect of digital transformation on corporate violations is more pronounced in non-SOEs, large firms, and the manufacturing sector. In this study, the inhibitory effect of digital transformation on corporate violations is revealed, and the relevant literature on digital technology in the field of corporate governance is enriched, providing empirical references to promote the digital construction and healthy and compliant development of commercial enterprises.
... Additionally, digital technologies support energy management and circular economy practices, achieving efficient energy use and management. Blockchain technology facilitates traceability of waste and resource recycling, promoting enterprises' transition to green and sustainable development [43]. Furthermore, digital transformation fosters collaborative innovation in high-tech manufacturing firms, providing a broad cooperation platform for green innovation. ...
The increasingly environmental issues pose challenges to the economic development of countries, particularly hindering industrial transformation in developing nations. This study, grounded in the Resource-Based View, examines factors influencing green innovation in high-tech manufacturing firms. Market interactions and digital technologies significantly impact resource investments in green innovation. Using data from Chinese high-tech manufacturing firms from 2007 to 2021, the study reveals that customer concentration negatively affects green innovation, while digital transformation promotes it and mitigates the inhibitory effect of customer concentration. To explain this mechanism, green innovation is divided into green process innovation and green product innovation, and the effect of customer concentration is more pronounced in green product innovation. Further testing discusses the roles of the external environment, internal governance, and manager characteristics. Specifically, product market competition and political resources influence firms’ reliance on major customers, allowing digital technologies to optimize resource allocation for green innovation. In terms of internal governance, flexibility and regulatory strength alter the emphasis firms place on green innovation, with higher governance efficiency reducing dependency on major customers. Managerial characteristics, particularly managers’ rationality, determine the importance placed on digital technologies versus customer demands, leading to varied investment decisions in green innovation. Our findings provide valuable insights for optimizing resource allocation and enhancing green innovation investment, thereby effectively promoting sustainable regional economic development.
La inteligencia artificial ha transformado significativamente la gestión comercial, ofreciendo nuevas soluciones a los retos tradicionales que enfrentan las empresas. El objetivo del estudio es analizar sistemáticamente las tendencias en el desarrollo de inteligencia artificial (IA) en la gestión comercial. Es de enfoque cualitativo, tipo descriptivo, diseño documental. Se analizaron 44 artículos publicados entre 2019 y 2024. Estados Unidos lidera con un 20% de la producción, seguido de China (18%) y Ecuador (9%). Los resultados revelan que, Python es el lenguaje de programación más utilizado, mencionado en 36 de los 38 artículos, mientras que R se menciona en 2. Las conclusiones señalar que, las áreas de Finanzas, Ventas y Marketing son las más investigadas, con un aumento significativo en la producción académica desde 2021, alcanzando su punto máximo en 2024, lo que destaca la creciente importancia de la IA para optimizar procesos comerciales y mejorar la toma de decisiones estratégicas en diversas áreas clave.
Digital transformation significantly impacts firm investment, financing, and value enhancement. A systematic investigation from the corporate finance perspective has not yet been formed. This paper combines bibliometric and content analysis methods to systematically review the evolutionary trend, status quo, hotspots and overall structure of research in digital transformation from 2011 to 2024. The study reveals an emerging and rapidly growing focus on digital transformation research, particularly in developed countries. We categorize the literature into three areas according to bibliometric clustering: the measurements (qualitative and quantitative), impact factors (internal and external), and the economic consequences (investment, financing, and firm value). These areas are divided into ten sub-branches, with a detailed literature review. We also review the existing theories related to digital transformation, identify the current gaps in these papers, and provide directions for future research on each sub-branches.
Purpose
This research aims to explore the relationship between sustainable manufacturing practices (SMP) and financial performance (FP) by considering the mediating role of green product innovation (GPI) and the moderating effect of digital transformation (DT).
Design/methodology/approach
This study proposes a research model grounded in a practice-based view and a resource-based view and conducts empirical tests by using a sample of 244 manufacturing firms.
Findings
This study revealed that SMP influences GPI, and GPI mediates the SMP–FP link. In addition, findings demonstrated that DT strengthens the impact of SMP on GPI, and moderates the mediation impact of GPI on the relations between SMP and FP.
Originality/value
Although overwhelming environmental concerns cause SMP to be considered increasingly crucial, there is a dilemma regarding its impact on FP. Moreover, due to the strategic importance of DT, there is a lot of interest in its relationship with sustainability-related issues. Nevertheless, this association is still not clarified. This study addresses the research gaps, provides an extended understanding of how SMP affects FP and offers a novel insight that reveals the role of DT.
As a pivotal driver of high-quality development, the impact of digitalization on industrial green transformation remains somewhat opaque. This study utilizes panel data from 35 industrial sectors in China, covering the years 2005–2021, to construct a fixed effects model that explores the relationship between digitalization and industrial green transformation, as well as its potential mechanisms. The results show that digitalization has a significant role in promoting industrial green transformation, a conclusion validated even after robustness tests. Furthermore, heterogeneity analysis reveals that industries characterized by low energy consumption, low pollution, and large scale experience a more pronounced positive effect from digitalization on industrial green transformation. The mechanism analysis reveals that digitalization propels industrial green transformation by enhancing the capability for green technological innovation. Moreover, digitalization expedites technological transformation, thereby fostering capital renewal and bolstering end-of-pipe treatment capabilities, all of which collectively propel the industrial green transformation. This study contributes to the novel insights from the dual perspectives of green technological innovation and technological transformation, which provides policy implications for developing countries worldwide to enhance industrial green transition through digitalization.
Purpose
This research focuses on analyzing the impact of digital transformation (DT) on the green innovation performance of Spanish wineries, as well as the mediating effect of green knowledge sharing (GKS) on this main relationship, as well as the moderating role of top management environmental awareness (TMEA) on the GKS-green innovation performance linkage. In addition, age, size and protected designation of origin (PDO) membership are used to increase the precision of the cause–effect relationships examined.
Design/methodology/approach
The study proposes a conceptual model based on previous studies, which is tested using partial least squares structural equation modeling, with data collected from 196 Spanish wineries between September 2022 and January 2023.
Findings
The results of the research reveal the existence of a positive and significant relationship between the development of DT and green innovation performance of Spanish wineries, as well as the partial mediation of GKS in this link and a positive moderation of TMEA in the GKS-green innovation performance bond.
Practical implications
Winery executives should prioritize aligning DT with TMEA to drive green innovation performance. Additionally, it is recommended that they actively promote GKS within their wineries to enhance sustainability performance and strengthen their competitive positioning in an eco-conscious market.
Originality/value
The originality of the study derives from its pioneering character, as the research enters unexplored terrain by investigating the role of the GKS as a mediator in the relationship between DT and green innovation performance, as no previous research has ventured in this direction.
Amid the rapid evolution of economic activities, climate risk has become a significant challenge for China, profoundly influencing corporate investment decisions. This study explores the effects and mechanisms of climate risk on corporate green innovation efficiency within the Chinese context. The findings reveal that climate risk significantly enhances corporate green innovation efficiency through two stages: green technology R&D and the conversion of green outcomes, facilitated by external supervision and digital transformation mechanisms. Specifically, climate risk increases public awareness and the effectiveness of supervision over corporate environmental performance, while also bolstering the intrinsic motivation for corporate digital transformation, collectively enhancing green innovation efficiency. Furthermore, government green subsidies, market competition intensity, and corporate innovation continuity positively moderate the impact of climate risk on green innovation efficiency. These effects are particularly pronounced in high-tech firms, state-owned enterprises, firms with fewer financing constraints, and those with robust environmental management systems. Ultimately, the positive effect of climate risk on corporate green innovation efficiency further enhances corporate green total factor productivity. This research provides valuable insights for companies striving to harmonize economic benefits with environmental performance.
Purpose
This study investigates the relationships among digital transformation, technological innovation, industry–university–research collaborations and labor income share in manufacturing firms.
Design/methodology/approach
The relationships are tested using an empirical method, constructing regression models, by collecting 1,240 manufacturing firms and 9,029 items listed on the A-share market in China from 2013 to 2020.
Findings
The results indicate that digital transformation has a positive effect on manufacturing companies’ labor income share. Technological innovation can mediate the effect of digital transformation on labor income share. Industry–university–research cooperation can positively moderate the promotion effect of digital transformation on labor income share but cannot moderate the mediating effect of technological innovation. Heterogeneity analysis also found that firms without service-based transformation and nonstate-owned firms are better able to increase their labor income share through digital transformation.
Originality/value
This study provides a new path to increase the labor income share of enterprises to achieve common prosperity, which is important for manufacturing enterprises to better transform and upgrade to achieve high-quality development.
This study investigates the effect of enterprise digital transformation on stock price crash risk using a sample of Chinese listed companies during the period 2007-2020. We find that the digital transformation of enterprises can significantly reduce stock price crash risk, and shows a certain structural heterogeneity. The above conclusions still hold after a series of robustness tests. Further, we identify that the relationship is more pronounced in high-tech enterprises and economically developed regions. Overall, the paper can provide empirical evidence for understanding how to reduce stock price crash risk in the capital market, and provide relevant implications for better driving the digital transformation of enterprises.
Green innovation is essential for improving the environment and realizing sustainable economic development. In this research, we use a sample of Chinese listed firms from 2011 to 2018 to examine whether and how digital finance affects corporate green innovation. The proof we provided shows that digital finance has a positive effect on green innovation. The result is consistent with a series of robustness tests. Further analyses show that digital finance promotes green innovation by alleviating financial constraints and increasing R&D investment. And the effect is more pronounced in economically backward regions and high-polluting industries. This research provides practical guidance for promoting finance development and improving the ecological environment.
Digital transformation and resultant business model innovation have fundamentally altered consumers’ expectations and behaviors, putting immense pressure on traditional firms, and disrupting numerous markets. Drawing on extant literature, we identify three stages of digital transformation: digitization, digitalization, and digital transformation. We identify and delineate growth strategies for digital firms as well as the assets and capabilities required in order to successfully transform digitally. We posit that digital transformation requires specific organizational structures and bears consequences for the metrics used to calibrate performance. Finally, we provide a research agenda to stimulate and guide future research on digital transformation.
Digital technology has changed organizations in an irreversible way. Like the movable type printing accelerated the evolution of our history, digitalization is shaping organizations, work environment and processes, creating new challenges leaders have to face. Social science scholars have been trying to understand this multifaceted phenomenon, however, findings have accumulated in a fragmented and dispersed fashion across different disciplines, and do not seem to converge within a clear picture. To overcome this shortcoming in the literature and foster clarity and alignment in the academic debate, this paper provides a comprehensive analysis of the contribution of studies on leadership and digitalization, identifying patterns of thought and findings across various social science disciplines, such as management and psychology. It clarifies key definitions and ideas, highlighting the main theories and findings drawn by scholars. Further, it identifies categories that group papers according to the macro level of analysis (e-leadership and organization, digital tools, ethical issues, and social movements), and micro level of analysis (the role of C-level managers, leader's skills in the digital age, practices for leading virtual teams). Main findings show leaders are key actors in the development of a digital culture: they need to create relationships with multiple and scattered stakeholders, and focus on enabling collaborative processes in complex settings, while attending to pressing ethical concerns. With this research, we contribute to advance theoretically the debate about digital transformation and leadership, offering an extensive and systematic review, and identifying key future research opportunities to advance knowledge in this field.
In a technology-driven, digital world, many of the largest and most successful businesses now operate as ‘platforms’. Such firms leverage networked technologies to facilitate economic exchange, transfer information, connect people, and make predictions. Platform companies are already disrupting multiple industries, including retail, hotels, taxis, and others, and are aggressively moving into new sectors, such as financial services. This paper examines the distinctive features of this new business model and its implications for regulation, notably corporate governance. In particular, the paper suggests that a tension exists between the incentives created by modern corporate governance and the business needs of today’s platforms. The current regulatory framework promotes an unhealthy ‘corporate’ attitude that is failing platforms, and a new direction (what we term ‘platform governance’) is urgently required. In identifying this new regulatory direction, the paper considers how firms might develop as successful platforms. Although there is no ‘one-size-fits-all’ solution, the paper describes three interconnected strategies: (1) leveraging current and near-future digital technologies to create more ‘community-driven’ forms of organization; (2) building an ‘open and accessible platform culture’; and (3) facilitating the creation, curation, and consumption of meaningful ‘content’. The paper concludes that jurisdictions that are the most successful in designing a new ‘platform governance’ based on the promotion of these strategies will be the primary beneficiaries of the digital transformation.
Synthesizing insights from a dynamic capability perspective and social network theory, this study identifies the factors influencing green innovation and examines the relationships between influencing factors, green innovation, and performance. This study uses structural equation modeling to test the research hypotheses. The results indicate that dynamic capability, coordination capability, and social reciprocity are significant drivers of green innovation, including green product innovation and green process innovation. Green product and process innovation have positive effects on environmental performance and organizational performance. These findings are relevant to firms in quest of green management and innovation.
Observable resources, particularly patents, alliances, and team experience, are known to affect a start-up's ability to attract venture capital financing. In this context they potentially fulfill a twofold function: as productive assets and, likely, as signals of characteristics of a venture that are not observable at the time of assessment. In particular, patents, alliances, and team experience may serve as signals of the unobservable quality of a venture's technology. Most existing studies based on firm-level transaction data cannot disentangle signaling from productive effects. Using a conjoint-based survey among 187 European and U.S. venture capitalists, we find they rely on research alliances and, partly, on team experience as signals of technological quality. While patents affect the venture capitalists’ decision making in their property rights function, we find no indication that they serve as technology quality signals.
In 1954, Drucker boldly declared that organizations have only two basic functions, marketing and innovation. While true for
any organization, this insight is particularly pertinent for technology-based businesses. The complicated environment surrounding
high-tech companies creates a great need for sophisticated marketing. Yet these companies continue to have under-developed
competencies in marketing and in understanding customer needs. This essay explores Drucker’s insights with respect to two
particularly salient issues for high-tech companies: developing and implementing a market orientation and break-through innovations.
We review Drucker’s insights and synthesize them with the scholarly research on these issues. Finally, we discuss three emerging
areas in high-tech marketing where academics and managers could build on Drucker’s insights to guide future research and practice:
market driving, customer co-creation, and corporate social responsibility. These illustrative examples highlight that even
today, Drucker’s writings continue to offer remarkable guidance to scholars and managers who are willing to take the time
to reflect, understand, and incorporate his insights in the unique context of high-tech industries.
In a 1991 essay in Scientific American, Michael Porter suggested that environmental regulation may have a positive effect on the performance of domestic firms relative to their foreign competitors by stimulating domestic innovation. We examine the stylized facts regarding environmental expenditures and innovation in a panel of manufacturing industries. We find that lagged environmental compliance expenditures have a significant positive effect on R&D expenditures when we control for unobserved industry-specific effects. We find little evidence, however, that industries' inventive output (as measured by successful patent applications) is related to compliance costs. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog
The main factor behind green economic development is green technology innovation (GTI). Environmental regulation and green finance (GF), as important ways to promote ecological civilization construction, run through the entire procedure of GTI. The purpose of this study is to investigate the influence of heterogeneous environmental regulation on GTI and the moderating effect of GF on GTI from both theoretical and empirical perspectives, to provide useful ideas for China's economic reform path selection and environmental governance system optimization. This paper uses information from 30 provinces between 2002 and 2019, and a bidirectional fixed model was constructed. The results show that: First, regulatory environmental regulation (ER1), legal environmental regulation (ER2), and economic environmental regulation (ER3) all have greatly boosted the degree of GTI in each province. Second, GF acts as a highly effective moderator between heterogeneous environmental regulation and GTI. Finally, this article investigates how GF can act as a moderator in various circumstances. The beneficial moderating effect of it is found to be more pronounced in inland areas, areas with weak spending on research and development, and areas with high energy consumption. These research results provide valuable references for accelerating the green development process in China.
Firms investing in environmental issues often suffer from increased operating costs and reduced profits. Therefore, rigorous environmental legislation is required to motivate firms to conduct more green innovations. This paper takes the promulgation of China's New Environmental Protection Law as an ideal quasi-natural experiment to investigate the effect of rigorous environmental legislation on corporate green innovations. By reconsolidating the “compensation effect” and the “crowding-out effect”, we find that China's New Environmental Protection Law promotes the quantity of corporate green innovations, but inhibits the quality of green innovations. The potential mechanisms regarding green innovation quantity and quality are strikingly different. China's New Environmental Protection Law promotes green innovation quantity mainly through alleviating government favoritisms and increasing the risk of environmental litigations. However, since high-quality innovations require higher investment costs and greater tolerance for failure, China's New Environmental Protection Law also tightens financing constraints and exacerbates managerial myopia, which crowds out high-quality green innovations. Moreover, China's New Environmental Protection Law causes short-term corporate performance losses, but it indeed promotes environmental performances. Our results are crucial to comprehensively understand the effectiveness of environmental legislation and provide policy inspirations for the government concerning the environment.
Servitization has emerged as an important research topic in the fields of innovation and technology management that connects products and services with the purpose of enhancing competitive advantages of focal firms. The manifestation of servitization varies across industry sectors, as it began from the manufacturing industry with rapid expansion into the digital economy enabled by the advancement of digital technology. Servitization innovation denotes the innovative approaches by which servitization is organized from the organizational governance perspective. Despite the steady increase in scholarly attention and accumulated body of knowledge on servitization, it remains unclear what are the archetypes of servitization innovation and what are the differences between the actors, mechanisms and instruments for servitization innovation. This paper aims to synthesize the received wisdom and contemporary understandings on servitization innovation by undertaking a systematic literature review of the field. From the technology-oriented perspective, we articulate the characteristics of servitization innovation within a pure manufacturing context and a digital context by proposing a typology of servitization innovation, namely organic, relational, and system. We conclude this review by presenting future research directions to further develop servitization innovation, especially within the context of technological innovation.
As the world's largest manufacturing country, China has been the object of considerable concern for the international community, specifically with regard to China's environmental pollution and carbon emissions. Meanwhile, the rise of digital finance in China has been having an increasingly extensive impact. In this context, this research is devoted to testing the role of digital finance in promoting green innovation; this is done by using the 2011 to 2018 data of Chinese A-share listed companies. The baseline results show that, on average, every 1% increase in digital finance will lead to a 0.82% increase in green innovation, with a significant level of 1%. After changing the measurement method of core explanatory variables, removing samples from the financial industry, further adding control variables at the regional level, and using instrumental variable regression, the baseline results stay robust. Further dynamic analysis shows that digital finance has a lasting promoting effect. A mechanism analysis shows that digital finance alleviates the financing constraints of listed companies and improves the overall innovation of the relevant city, thus improving green innovation ability. The positive impact of digital finance is more prominent in state-owned enterprises, economically-developed eastern regions, and high-pollution industries. Meanwhile, digital finance also retains a certain degree of significance in private enterprises, central and western regions, and low-pollution industries. This work provides empirical evidence of China's high-quality development based on digital finance. The results also have implications for major global economies in terms of meeting their carbon targets.
Green innovation activities of enterprises often fall into the dilemma of financing constraints. Hence, it is urgent that the financial system develops and becomes innovative, especially for a developing country like China. Existing literature mainly explores the influencing factors of green innovation from the environmental regulation, economic growth and government subsidies perspective. However, few papers critically study how digital finance influences green innovations. To explore the internal influencing mechanism of digital finance on the quantity and quality of green technology innovation, panel data of 271 prefecture-level cities from 2011 to 2019 in China is used. Based on theoretical analysis and empirical research, we get the following conclusions. First, digital finance can improve the quantity and quality of green technological innovation, which has become a significant driving force for green innovations in China. The results are still robust after the endogeneity tests. Second, the results of heterogeneous analysis indicate that the different dimensions of digital finance can improve green innovations. They include breadth of coverage, depth of use, and degree of digitization. The positive effect of digital finance is most substantial in eastern cities, followed by central cities, and weakest in western cities. Third, digital finance indirectly improves green innovation mainly by alleviating financing constraints. Our empirical results provide policy enlightenment for realizing the coordination of China's urban digital transformation and green economic development.
This paper investigates how the digital transformation of firms affects their risk-taking in China. By using a panel of Chinese listed companies from 2007 to 2020, we find that digital transformation has a significant positive effect on corporate risk-taking. Furthermore, we show that digital transformation promotes corporate risk-taking by improving firms’ operating flexibility and financing availability. Besides, the effect is more pronounced for non-state-owned firms and the firms operating in developed regions. Our findings provide insights on how digital transformation shapes corporate policies and supplement the existing literature in the determinants of corporate risk-taking.
Despite the strategic significance of green innovation and the substantial role of board capital in corporate decision-making, no prior study has deeply investigated the relationship between board capital and green innovation. By combining the agency and resource dependence perspectives, we propose that board capital facets (i.e. human and social capital) influence the green innovation performance. The dataset of 2064 Chinese listed firms (2010–2018) is employed. Consistent with our expectations, we find that board capital positively affects green innovation. The findings also indicate that absorptive capacity mediates this relationship. Further, while exploring the interrelationships among board capital, green innovation and firm’s environmental performance, we identified the mediating role of green innovation on the board capital – environmental performance relationship. The study has implications for academicians, practitioners, and policy-makers as they should consider the education level, expertise, and interlocking relationships of potential and existing directors to enhance their ability for correct strategic decisions, particularly related to environmental outcomes such as green innovation.
Large capital investment, extended R&D cycle, and high uncertainties characterize green innovations. Consequently, financial risks easily emerge during firms’ green innovation process. This study utilizes data from Chinese A-share listed companies from 2011 to 2019 to examine the effects of digital finance on firms’ green innovation. The findings reveal that digital finance exerts significant and positive influence on green innovation. Digital finance institutions alleviate information asymmetry in the green innovation market through digital technologies such as big data analysis of firm behavior to directly promote firms’ innovation behavior. The internal mechanism analysis reveals that digital finance indirectly promotes green innovation by improving the quality of firms’ environmental information disclosure and reducing financial constraints. The heterogeneity analysis indicates that the promotional effect of digital finance on green innovation is more prominent in larger and state-owned enterprises.
Effects of digital transformation on value creation, productivity, and innovation have been
previously examined. However, only a few studies have explored how the capital market responds to firms’ digitalization, and the relationship between digital transformation and stock price crash risk has remained unknown. The current study explores this gap by using data of listed firms in China in 2007–2020. We create a Chinese dictionary containing digital keywords by using the deep learning model, and set the proportion of intangible assets related to digital keywords as proxy for digital transformation. Findings show that digital transformation significantly reduces stock price crash risk. Moreover, results remain robust after addressing endogeneity problems and several robustness tests. Heterogeneity analysis suggests that the attenuation effect of digital transformation on stock price crash risk is strong for firms that are small, with low analyst attention, in the tech industries, and in areas with high trust. This study validates two potential mechanisms, namely, information and internal control channels. Lastly, digital transformation significantly reduces opacity and increases internal control quality.
Understanding the carbon implications of mega sporting events (MSEs) is critical for the hosting country or city, if they are to tackle climate change challenges. Taking the case of the 2014 Nanjing Youth Olympics (NYO), this study examines the impacts on the host's local carbon emissions during the ‘preparatory-hosting-after’ stages of a MSE. By adopting a synthetic control method (SCM) and logarithmic mean divisia index (LMDI) decomposition, the following findings are reached: (1) From 2010, when the city of Nanjing announced the decision to bid to host the NYO, the NYO increased the carbon emissions of Jiangsu (the province to which Nanjing belongs) in every year from 2010 to 2019. The total increase in the emissions caused by the NYO was approximately 584.63 million tons. That figure is 1.65 times the total carbon emissions of the United Kingdom in 2018. (2) The annual amount of increased emissions also rose during the preparatory and post stages of the NYO, but the amount of increased emissions during the hosting year was relatively lower, at 53.36 million tons. (3) The NYO improved the energy intensity of the industrial sector, and thereby partially decreased local carbon emissions. Conversely, the NYO induced continuous impacts on local per capita output, the energy intensity of the transportation sector, the scale and energy structure of the industrial sector, and thus promoted emissions, even after the games.
This study tests the impact of enterprise digital transformation on the information environment. The results show that while analyst coverage increase significantly and the accuracy of public information improves after enterprises implement digital transformation, there is no significant change in the accuracy of private information. The main influence channels are information disclosure quality and stock price information content. Further analysis shows that this relationship is affected by cyber‐attacks, market competition, and social media. This study enriches the analytical paradigm of the influencing factors of analysts' prediction behaviour and provides evidence for exploring digital transformation in the emerging capital market.
Purpose
This study investigates the impact of Industry 4.0 technologies on green innovation performance. In this relationship, the mediating role of green innovation behavior is also studied. Moreover, open innovation is tested as a mediator between Industry 4.0 technologies and green innovation behavior.
Design/methodology/approach
A quantitative research method is adopted in which a structured questionnaire was used to collect data from 217 manufacturing firms of Malaysia. After collecting data, the partial least squares-structural equation modeling (PLS-SEM) technique is applied to analyze data and test the hypothesis of study.
Findings
It is found that Industry 4.0 positively impacts open innovation which leads to green innovation behavior. Also, the former lays positive impact on green innovation behavior which leads to improve green innovation performance.
Research limitations/implications
The authors conclude that Industry 4.0 technologies can play an important role to improve green innovation performance of Malaysian manufacturing firms by managing open innovation for green innovation behavior which further improves the green innovation performance. In this context, it is recommended that strategists and policymakers should undertake the role of open innovation and Industry 4.0 technologies to promote environment-friendly innovations and to promote the green behavior in companies. The authors suggest hereby that firms should be given incentives to adopt and utilize Industry 4.0 technologies and collaborative innovation interactions – as they foster a climate for sustainable green innovations (which is also a key component to achieve competitive advantage) and a growing concern nowadays.
Practical implications
First of all the research contributes to achieving the broader of United Nations to promote sustainable innovation through green innovations. Moreover, the companies can also incorporate the findings and insights of this study while devising their policies to foster green innovations.
Originality/value
This research has done the novel contribution by bridging the gap between open innovation approach and sustainability fields while promoting green innovations in small and medium enterprises (SMEs). These two research fields are rarely studied in previous studies by focusing open innovation particularly. Hence, the authors suggest researchers to undertake these fields to further enhance the level of scholarship between innovation management and sustainability. Also, the authors recommend considering technological orientation and technological absorptive capacity of firms to improve green innovations. The current study has investigated the SMEs perspective in general irrespective to their sectoral differences, thus, for future researchers the authors suggest investigating the sector-wise comparison, i.e. electrical and electronics sector, chemical sector, etc.; or service and manufacturing sector differences.
This paper investigates the effects of financing constraints on prompting green innovations using a sample of Chinese listed firms in the period 2001–2017. Also, we explore how green finance policies resolve financing constraints of firms to green innovation. The capability of green innovation is found to be impaired when firms face higher financing constraints, and privately owned enterprises tend to be more vulnerable than state-owned ones in this regard. Although green finance policies can effectively ease financing restraints on green innovation overall, green credits are less likely to be available to privately owned enterprises. However, these enterprises which are deeply affected by financing constraints have relatively high innovation capabilities. We suggest the government to provide more supports to privately owned enterprises for investing in green projects. Further, both financial institutions and privately owned enterprises should be required to disclose more information on green credits and green projects, respectively. In addition, the China Banking Regulatory Commission should design a synthetic mechanism for evaluating green performance.
Promoting technological innovations by environmental regulation is one of the essential means to achieve green transformation. This study investigates the effect of environmental regulation on technological innovations based on the provincial panel data of industrial sectors in China during the years 2005–2015. The two-way fixed-effect panel data model is used to investigate the marginal and heterogeneous impacts empirically. Results indicate a U-shaped relationship between environmental regulation and technological innovations. In the short-term, environmental regulation has an “offsetting effect” on the research and innovation capacity of China's industrial sector. However, with the deepening of environmental regulation, it forces the industry to reduce the cost of pollution control by improving technological innovation capacity, thus creating a “compensation effect”. Results also show that environmental regulation policies changed the location and industry selection of foreign capital, which weakened the positive effect of FDI on technological innovations, indicating the “pollution shelter” effect. From the perspective of different types of enterprises, due to the higher cost of energy conservation and emission reduction, environmental regulation is detrimental to the technological innovations of state-owned enterprises. In particular, we find that industries with a higher degree of market competition and higher human capital investment tend to have stronger technological innovation capabilities.
In this study, we explore the impacts of big data’s main characteristics (i.e., volume, variety, and velocity) on innovation performance (i.e., innovation efficacy and efficiency), which eventually impacts firm performance (i.e., customer perspective, financial returns, and operational excellence). To address this objective, we collected data from 239 managers and empirically examined the relationships in the proposed model. The results reveal that, while data variety and velocity positively enhance firm innovation performance, data volume has no significant impact. The finding that data volume does not play a critical role in enhancing firm innovation performance contributes novel insights to the literature by contradicting the prevalent belief that big data is better data. Moreover, the findings reveal that data velocity plays a more important role in improving firm innovation performance than other big data characteristics.
In the digital era, organizations can use digital technologies to develop new digital products and services, business processes, or business models. These so-called digital innovations pose a serious challenge for both theory and practice. Accordingly, the last years have brought forward a multitude of research in this area. With this article we want to link existing research streams on digital innovations and, thus, pave the way for future research in this area. Therefore, we consolidate prevailing work on digital innovations into a technology-driven “linking” framework on digital innovations and their embedding in organizations. According to our framework, the realization and embedding of digital innovations into organizations manifests along three concentric rings: the technology-driven development and the different implementation categories of digital innovations at the core, the enablers of digital innovations in a second ring, and the governance of digital innovations in a third ring. Based on the proposed framework we point out promising areas for further research in this field.
Faced with internal and external pressure to adapt and implement environmental friendly business activities, it is becoming crucial for firms to identify practices that enhance their competitive advantage, economic, and environmental performance. Green innovation, green technologies, and the implementation of green supply chain management are examples of such practices. Green innovation and the adoption of the combination of green product innovation and green process innovation involve reduction in consumption of energy and pollution emission, recycling of wastes, sustainable utilization of resources, and green product designs.Although the extent research in this area is substantial, research on the importance of considering corporate environmental ethics, stakeholders view of green product, and demand for green products as drivers of green innovation must be conducted. Moreover, the role of large scale data, management commitment, and human resource practices play to overcome the technological challenges, achieve competitive advantage, and enhance the economic and environmental performance have yet to be addressed. This paper develops and tests a holistic model that depicts and examines the relationships among green innovation, its drivers, as well as factors that help overcome the technological challenges and influence the performance and competitive advantage of the firm. This paper is among the first works to deal with such a complex framework which considers the interrelationships among numerous constructs and their effects on competitive advantage as well as overall organizational performance. A questionnaire was designed to measure the influence of green innovation adoption/implementation and its drivers on performance and competitive advantage while taking into consideration the impact of management commitment and HR practices, as well as the use of large data on these relationships. Data collected from a sample of 215 respondents working in Middle East and North Africa (MENA) region and Golf-Cooperation Countries (GCC) were used to test the proposed relationships. The proposed model proved to be fit. The hypotheses were supported, and implications were discussed.
This paper examines the impact of digitalization - the adoption of Internet-connected digital technologies and applications by companies - on B2B exchanges. While B2C exchanges are the subject of numerous studies on the transformations brought by the digital technologies, B2B exchanges are far less analyzed. Building on a conceptualization of exchanges between companies as made of activity links, resource ties, and actor bonds, this paper offers to identify three types of "digitalization” according to the nature of the most deeply impacted link. Five cases of digitization in different industrial sectors and five companies providing digital solutions for businesses illustrate these three types. This typology provides an alternative to analyses based on the nature of digital systems used by B2B companies.
In the last decade, the integrated transdisciplinary concepts and technologies for greener and more sustainable innovations and applications of Cleaner Production in the Asia–Pacific region have been developed and implemented extensively. The endeavor to develop more precise, reliable, and cost-effective tools and methods to assess the sustainability of the desired products and processes from Cleaner Production have been achieved. Regarding the two conferences, the International Conference on Green and Sustainable Innovation (ICGSI) and the International Thai Chemical Engineering and Applied Chemistry Conference (ITIChE2015), these conferences were co-organized to bring experts and researchers together from within and outside the Asia–Pacific region to foster development of new research ideas on green and sustainable innovation. The selected articles from these events are included within this Special Volume together with articles from the Cleaner Production community outside these events. The papers cover a wide range of topics relevant to the Cleaner Production concepts and applications, especially for greener and more sustainable innovations and of applications of life cycle assessment, ecological footprint, and other environmental and ecological assessment tools for making improvements in agricultural products, biodiesel and biogas production, CO2 reduction and utilization, and expansion of usage of alternative and renewable energies. The examples of life cycle thinking-based assessment techniques, together with progress in innovative technologies and their applications, strongly reflected the improvements made in practical applications of Cleaner Production in the Asia–Pacific region, in recent years.
This paper presents a research agenda for understanding how entrepreneurs accrue social capital in the digital age. We develop a conceptual framework with 12 research propositions that specify how the unique technical capabilities of social network sites impact entrepreneurs' bridging and bonding social capital online. These propositions are informed by anecdotal evidence from founders that finds entrepreneurs' social capital accrual differs online. We include theoretical and methodological insights for overcoming research challenges concerning context dynamism, intertwined networks, and unclear behavioral norms. This agenda addresses a growing gap between contemporary entrepreneurial practices and existing social capital theory and research in entrepreneurship.
New digital technologies have transformed the nature of uncertainty inherent in entrepreneurial processes and outcomes as well as the ways of dealing with such uncertainty. This has raised important questions at the intersection of digital technologies and entrepreneurship—on digital entrepreneurship. We consider two broad implications—less bounded entrepreneurial processes and outcomes and less predefined locus of entrepreneurial agency—and advance a research agenda that calls for the explicit theorizing of concepts related to digital technologies. In articulating the promise and value of such a digital technology perspective, we consider how it would build on and enrich existing entrepreneurship theories.
This special issue of the Journal of Cleaner Production addresses sustainability through green supply chain management, design and practice in Asia by examining opportunities for sustainable consumption and production (SCP). The articles present and analyze 'top-down' green efforts by policy makers and 'bottom-up' efforts by companies in the supply chain. The articles also showcase discussions on green supply practices, implications of lean production, green innovation, green supply chain management boundaries, and methods of assessing evaluation and implementation processes. Issues of sustainability are explored in different ways and in several contexts. Within the context of the environmental, social, and economic impacts of present and anticipated impacts on climate change, societal efforts toward sustainable consumption and production within a low-fossil carbon energy system are addressed and applied. This special issue identifies highlights factors such as advanced green technology, green consumerism, green innovations, appropriate sustainable business models, green and lean supply chain management as major concerns and key ingredients in promoting large-scale sustainable consumption and production.
While innovation processes toward sustainable development (eco-innovations) have received increasing attention during the past years, theoretical and methodological approaches to analyze these processes are poorly developed. Against this background, the term eco-innovation is introduced in this paper addressing explicitly three kinds of changes towards sustainable development: technological, social and institutional innovation. Secondly, the potential contribution of neoclassical and (co-)evolutionary approaches from environmental and innovation economics to eco-innovation research is discussed. Three peculiarities of eco-innovation are identified: the double externality problem, the regulatory push/pull effect and the increasing importance of social and institutional innovation. While the first two are widely ignored in innovation economics, the third is at the least not elaborated appropriately. The consideration of these peculiarities may help to overcome market failure by establishing a specific eco-innovation policy and to avoid a ‘technology bias’ through a broader understanding of innovation. Finally, perspectives for a specific contribution of ecological economics to eco-innovation research are drawn. It is argued that methodological pluralism as established in ecological economics would be very beneficial for eco-innovation research. A theoretical framework integrating elements from both neoclassical and evolutionary approaches should be pursued in order to consider the complexity of factors influencing innovation decisions as well as the specific role of regulatory instruments. And the experience gathered in ecological economics integrating ecological, social and economic aspects of sustainable development is highly useful for opening up innovation research to social and institutional changes.
Misvaluing innovation
- Cohen
Understanding digital transformation: A review and a research agenda
- Vial