The Dynamic Role of Green Innovation Adoption and Green Technology Adoption in the Digital Economy: The Mediating and Moderating Effects of Creative Enterprise and Financial Capability

Hao Liang, Muttahir Hussain and Amir Iqbal ()
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Hao Liang: School of Management, Guangzhou University, Guangzhou 510006, China
Muttahir Hussain: School of Management, Guangzhou University, Guangzhou 510006, China
Amir Iqbal: School of Economics and Statistics, Guangzhou University, Guangzhou 510006, China

Sustainability, 2025, vol. 17, issue 7, 1-28

Abstract: This study investigates the critical roles of green innovation adoption (GIA) and green technology adoption (GTA) in advancing the digital economy (DE). It explores how creative enterprises (CE) and financial capability (FC) mediate and moderate the relationships between green innovation, technology adoption, and the digital economy. Data were collected from 400 respondents in the automotive industry in China through a structured survey questionnaire. Structural Equation Modeling (SEM) was conducted using Smart PLS 4.0 to analyze the data and test the proposed hypotheses. The findings indicate that green innovation and technology adoption significantly and positively impact the digital economy. Moreover, these factors positively influence creative enterprises, enhancing the digital economy. Creative enterprises were also found to mediate the relationship between green innovation/technology adoption and the digital economy. In addition, financial capability significantly moderated the link between creative enterprises and the digital economy. This research contributes to the literature by examining the synergistic effects of environmental sustainability, innovation adoption, and technological integration within the digital economy. It provides actionable insights into embedding sustainable practices in the evolving digital landscape while highlighting the intricate dynamics among innovation, technology adoption, and financial resources in driving economic transformation. This study contributes to the literature by exploring the synergistic effects of green innovation, technology adoption, and financial capability in driving the digital economy, focusing on creative enterprises as a mediating factor. It provides actionable insights for integrating sustainability into the digital landscape, offering a novel framework for economic transformation in the automotive industry.

Keywords: digital economy; green innovation adoption; green technology adoption; creative enterprise; financial capability; dynamic capability theory; automotive industry (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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