Integration of technology and finance, digital transformation and corporate green innovation

Yanwu Yang, Haili Ren, Yutong Liu and Yusen Yang

Finance Research Letters, 2025, vol. 71, issue C

Abstract: Although research has investigated the influence of green financial policies and digital finance on innovation, the effects of policies promoting the integration of technology and finance, particularly in the context of digital transformation, remain underexplored. This study examines the impact of China's Pilot Policy of Promoting the Combination of Technology and Finance (PPCTF) on corporate green innovation, focusing on the moderating role of digital transformation. Using a difference-in-differences approach on panel data from Chinese A-share listed companies (2007–2022), we find that the PPCTF significantly improves corporate green innovation, with digital transformation positively moderating this relationship. Regional heterogeneity exists in the policy's effectiveness, with stronger effects observed in more developed areas. These findings underscore the importance of technology–finance integration and digital transformation in fostering green innovation and offering valuable insights for policymakers and corporate managers in promoting sustainable development in the digital age.

Keywords: Green Innovation; Technology–Finance Integration; Digital Transformation; Policy Effectiveness; Regional Heterogeneity (search for similar items in EconPapers)
JEL-codes: G28 O31 Q55 R11 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612324014739
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324014739

DOI: 10.1016/j.frl.2024.106444

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().