Digital technology application and green technological innovation under economic policy uncertainty: Empirical evidence from China's manufacturing industry

IF 9.8 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-08-30 DOI:10.1016/j.irfa.2025.104597

Xiaoyu Xie , Kaige Guo , Zhongya Han

引用次数: 0

Abstract

Green technological innovation (GTI) is crucial for achieving low-carbon development. In the context of the digital economy, rising economic policy uncertainty (EPU) significantly impacts such innovation. Using data from Chinese manufacturing firms (2006–2021), this study reveals a U-shaped relationship between EPU and green technological innovation, with current effects being predominantly negative. Digital technology adoption mitigates these adverse effects. The effects vary across firm size, ownership, industry characteristics, and environmental policies, with large, high-tech private firms showing greater resilience. This research contributes to the theoretical understanding of green technological innovation during uncertainty and offers practical insights for firms navigating EPU challenges.

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经济政策不确定性下的数字技术应用与绿色技术创新——来自中国制造业的经验证据

绿色技术创新是实现低碳发展的关键。在数字经济背景下，不断上升的经济政策不确定性（EPU）对这种创新产生了重大影响。利用2006-2021年中国制造业企业的数据，本研究揭示了EPU与绿色技术创新之间的u型关系，且当前的影响主要是负面的。数字技术的采用减轻了这些不利影响。影响因企业规模、所有权、行业特征和环境政策而异，大型高科技私营企业表现出更强的弹性。本研究有助于对不确定环境下绿色技术创新的理论认识，并为企业应对环境政策的挑战提供实践见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.