Big data development and enterprise green innovation: Text analysis of listed companies’ annual reports

Abstract

This study used a sample of data from 3314 firms listed in the manufacturing industry from 2011 to 2022. We analyzed these companies’ annual reports using panel regression analysis to explore the relationship between big data utilization and corporate green innovation. Findings reveal that green innovation is driven by big data development. Research and development (R&D) investment has emerged as a key mediator in the relationship between big data and green innovation among firms. Furthermore, this study identifies disparities in the effect of big data development on green innovation between profit-making and loss-making entities. Moreover, it emphasizes the differences in the effects of environmental innovation between state owned and non–state-owned enterprises. This study offers tangible evidence that companies should use big data to promote environmental innovation, which is a crucial strategy for achieving sustainable growth.