Fiscal Decentralization, Enterprise Digital Transformation and Enterprise Green Innovation—The Case of 11 Years A-Share Listed Companies in China

Anqi Wang, Lianmei Zhu, Huanan Sun (), Shali Wang () and Haijing Ma
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Anqi Wang: School of Management, China University of Mining & Technology, Beijing 100083, China
Lianmei Zhu: School of Management, China University of Mining & Technology, Beijing 100083, China
Huanan Sun: School of Management, China University of Mining & Technology, Beijing 100083, China
Shali Wang: School of Management, China University of Mining & Technology, Beijing 100083, China
Haijing Ma: Institute of Climate Change and Sustainable Development, Tsinghua University, Beijing 100084, China

Sustainability, 2023, vol. 15, issue 8, 1-21

Abstract: In the context of accelerating economic transformation and upgrading, and comprehensively promoting the construction of digital China and ecological civilization in China, this paper uses text mining and OLS to quantitatively study the relationship between fiscal decentralization, enterprise digital transformation and green innovation in 31 provinces from 2011 to 2021. This study finds that fiscal decentralization will promote enterprise green innovation and digital transformation, and that digital transformation has a partial mediating effect between fiscal decentralization and enterprise green innovation. Furthermore, this expansive study finds that fiscal decentralization has a positive role in promoting the green innovation of heterogeneous enterprises and enterprises in different regions, among which its promotion effect on state-owned enterprises is higher than that of private enterprises, and its promotion effect on enterprises in the central and western regions is higher than that of enterprises in the eastern region. Moreover, an inverted U-shaped relationship exists between fiscal decentralization and the green innovation of enterprise. In addition, financing constraints have a masking effect between fiscal decentralization and green innovation in enterprise and green innovation significantly promotes enterprise environmental, social and governance (ESG) development.

Keywords: fiscal decentralization; digital transformation; enterprise green innovation; financing constraints; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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