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Currently, digital transformation is having various impacts on enterprises around the world, including the green innovation. However, the current literature on the relationship between digitalization and green innovation in enterprises is scarce. What is the relationship between them, and whether heterogeneous environmental regulation has mediating effects, are questions that are worth exploring. Using a sample of listed manufacturing enterprises in China, this paper empirically tests the impact of digital transformation on enterprise green innovation. The results show that: (1) Digital transformation has a significant positive impact on green innovation, including green innovation output and green innovation capability. (2) Diverse environmental regulation may have mediating effects of digital transformation's influence on green innovation. (3) After a number of robustness tests, the conclusions are still valid. This paper can provide a reference for developing green development strategies for manufacturing enterprises. [ABSTRACT FROM AUTHOR]

Simultaneously achieving economic development and environmental protection is a shared global challenge. While the positive effect of environmental regulations on protecting the environment has been widely recognized, the attention paid to low-carbon governance and corporate green transformation remains insufficient. Based on the two-stage least square regression model (2SLS) of instrumental variables, this paper utilizes panel data from China to identify the influence mechanism of government low-carbon governance on enterprise green development. It explores the effect of low-carbon governance on enterprise green development from the perspective of fiscal decentralization. The findings show that (1) Low-carbon governance significantly promotes corporate green development, primarily through improving industrial structure and technological innovation; (2) Low-carbon governance notably promotes the green development of private enterprises but has little effect on state-owned enterprises. There are also geographical differences, and the results are better in Eastern China than in the Central and Western parts of China; (3) Fiscal decentralization at both central and local levels inhibits the effect of low-carbon governance on driving corporate green development by causing a mismatch of human resources. Therefore, to promote corporate green development, low-carbon governance must prioritize green development, actively guide industrial structural upgrading and enterprise technological innovation, implement differentiated low-carbon governance measures tailored to different ownership enterprises, and optimize the assessment indicators for fiscal decentralization. This paper helps deepen the understanding of the relationship between government low-carbon governance and enterprise green development in developing countries. It can be used as a reference for government departments to formulate relevant policies. [ABSTRACT FROM AUTHOR]

Low-carbon pilot city (LCPC) plays a pivotal role in stimulating green innovation among enterprises. However, relying solely on policy often proves less effective, necessitating support from financial development. Yet, current research frequently overlooks the impact of financial development on LCPC policy. Drawing on economic, management, and organizational psychology theories, we investigate the influence of the financial development level on enterprise green innovation in LCPC, utilizing data from listed companies between 2010 and 2018. The main finding is that LCPC facilitates institutional-level green innovation. Concurrently, financial development augments the effectiveness of LCPC policy, further expediting green innovation activities among enterprises in these pilot cities. Heterogeneity analyses reveal that financial development significantly promotes green innovation, particularly among state-owned enterprises, those with myopic management, non-high technology industries, and businesses in the southern region within LCPC. Mechanism tests identify enterprises' financing constraints and R&D investment levels as key pathways through which financial development fosters green economic development in LCPC. This study provides micro-level evidence from China elucidating the effects of environmental policies and offers practical implications for the low-carbon transformation of the manufacturing sector amid peak emissions and carbon-neutral targets. Additionally, it provides valuable guidance for other emerging economies seeking enhanced resource and environmental protection through the implementation of energy-saving and emission-reduction fiscal policy. [ABSTRACT FROM AUTHOR]

The rapid evolution of the digital economy has significantly accelerated progress towards achieving green and sustainable processes, particularly in the field of green production. While existing research has delved into the effects of the digital economy on Green Innovation (GI) and the consequences of digital transformation on Corporate Value (CV), there remains a notable gap in the literature regarding the potential for synergistic enhancements in firms' GI&CV through the ongoing digital revolution. This study utilizes an evolutionary game model and employs system dynamics methods to simulate the dynamic evolution trajectory of the influence of the digital economy on the synergy between GI&CV. Subsequently, it empirically assesses the interconnected synergies between GI&CV using a dataset comprising information from Chinese listed firms spanning from 2011 to 2020, examining the impact of the digital economy on these synergies. Moreover, the study delves into the analysis of the transmission mechanism and conducts an extended investigation to further explore this phenomenon. The findings of this paper including: (1) The digital economy acts as a driving force behind the synergistic enhancement of firm GI&CV. Moreover, this effect is further augmented by governmental environmental regulation and green subsidy policies. (2) Drawing upon the information asymmetry theory and the resource-based theory, the regional marketization level and firms' digital transformation play intermediary roles. (3) The heterogeneity test indicate that firms situated in eastern regions and those classified as non-heavily polluted benefitted to a greater extent. This study sheds light on the incentive implications of digital economy for the synergistic upgrading of GI&CV, thereby extending the breadth of study on the consequences of digital economy. Moreover, it offers actionable suggestions for enterprises to leverage digital economy development towards achieving a synergistic improvement of GI&CV. [ABSTRACT FROM AUTHOR]

The National Sustainable Development Agenda Innovation Demonstration Zones (NSDAIDZs) aim to spearhead green development through scientific and technological innovation, showcasing sustainable development to other regions in China and offering valuable insights for countries worldwide. Taking Chengde City, which is one of the cities in the second batch of NSDAIDZs, as a case study, we examine the quantitative impact of technological innovation on green development. Additionally, it investigates the threshold effect of Research and development investments (R&D investments) on the relationship between technological innovation and green development. The results indicate that: (1) technological innovation has a positive promoting effect on green development, with a 1.01% increase in green development for every one unit increase in technological innovation; (2) The positive effect of technological innovation on green development becomes fully realized only when R&D investments and the upgrading of industrial structure surpass a specific threshold value. We contribute to the existing research on the connection between technological innovation and green development in innovation demonstration zones. It also provides empirical insights to foster a mutually beneficial relationship between R&D investments, industrial structure upgrading, and technological innovation, ultimately maximizing the promoting role of technological innovation in green development. [ABSTRACT FROM AUTHOR]

Green development is an important component of China's new development concept. Pilot Free Trade Zones (PFTZs), as "experimental fields" for promoting reform, deepening opening-up, and raising the level of an open economy, are important open areas for China to promote green development. However, existing related research is not extensive. This article takes PFTZs as quasi-natural experiments, with the Yangtze River Economic Belt (YREB) as the research area. Based on urban panel data from 2006 to 2020, using multi-period differences-in-differences and spatial differences-in-differences models, it explores the impact effects of PFTZs on urban green development and their potential mechanisms. The research findings indicate: (1) Overall, PFTZs significantly promote urban green development, with variations in impact effects due to different batches and locations of establishment. (2) Mechanism tests show that PFTZs mainly promote urban green development by stimulating technological innovation, industrial upgrading, and reducing government intervention. (3) From the perspective of spatial spillover effects, the establishment of PFTZs not only promotes the green development process in the host cities but also has a promoting effect on the green development of surrounding cities. [ABSTRACT FROM AUTHOR]

Against the background of increasingly severe environmental problems, green development has gained widespread attention, and green innovation has thus become crucial for enterprises. This study used 2007–2019 data from listed A-share companies in China to evaluate the effect of senior executives' overseas experience on corporate green innovation. The results showed that senior executives' overseas experience could promote green innovation in companies. This positive effect was more significant for private enterprises and high-tech enterprises, especially in eastern China. The CEO pay regulation have a significant negative moderating effect on this positive effect. This study enriches upper echelons theory and provides theoretical support for government agencies to accelerate innovative green development strategies. The results can also provide a decision-making basis for governments to formulate policies to promote enterprises' green development. [ABSTRACT FROM AUTHOR]

The green credit policy serves as a crucial instrument for achieving the dual objectives of optimal resource allocation and green development. It plays a pivotal role in curbing inefficient investments in innovation by enterprises. This research employs the PSM-DID method to effectively explore the practical effects of the green credit policy on the innovation inefficiency investments of heavily polluting enterprises in China. Examining the impact from the perspectives of environmental regulation and financial constraints, the study utilizes panel data from listed companies on the Shanghai and Shenzhen A-shares markets spanning from 2010 to 2020. The following conclusions are drawn: (1) Green credit policy has proven effective in inhibiting the inefficient investment in innovation by heavily polluting enterprises when compared to non-heavily polluting enterprises. (2) Moreover, this effect is more pronounced in state-owned enterprises and regions with less financial development. (3) Mechanism testing reveals that the green credit policy can discourage corporate over-investment by influencing financing constraints and can alleviate under-investment through commercial credit. [ABSTRACT FROM AUTHOR]

This article explores the impact mechanism of different types of environmental regulations on corporate green technology innovation (GTI). The research focuses on analyzing three types of environmental regulations: command based environmental regulation (ER1), market-oriented environmental regulation (ER2), and voluntary environmental regulation (ER3), and how they affect corporate GTI. This study selected enterprise GTI as the dependent variable and measured it by the number of applications for green invention patents and green utility model patents. The independent variables are the three types of environmental regulations mentioned above. According to data from Chinese A-share listed companies. Using benchmark regression models to analyze the impact of different environmental regulations on GTI, and constructing a moderating effect model to study the role of corporate R&D investment and government support in the process of environmental regulations affecting GTI. The results indicate that (1) ER1, ER2, and ER3 can all promote enterprise GTI, and the three environmental regulatory methods have a better synergistic effect. (2) R&D investment has a positive correlation with the relationship between ER2 and GTI, and a negative correlation with ER 3 and ER 1. (3) There are differences in the GTI performance of enterprises in different regions, ownership nature, factor density, and industry types under the influence of environmental regulations. (4) The impact of environmental regulatory policies on corporate GTI is mainly short-term. This study provides a new perspective on how environmental regulations affect corporate GTI, especially in the context of developing countries like China. The research findings emphasize the role of different types of environmental regulations in incentivizing corporate GTI, while also pointing out factors that governments need to consider when formulating environmental policies, such as regional differences and corporate characteristics, which are of great significance for promoting green development of enterprises and achieving broader sustainable development goals. [ABSTRACT FROM AUTHOR]