The impact of digital transformation on corporate financialization: The mediating effect of green technology innovation
Open accessAbstract
This research mainly investigates the impact of digital transformation on corporate financialization and which type of digital technology influences such financialization by utilizing data of listed companies from 2010 to 2020. We further discuss the mediating effect of green technology innovation between digital transformation and corporate financialization. The panel estimations support the negative impact of digital technology on corporate financialization, and cloud computing technology significantly inhibits the corporate financialization level. Moreover, green technology innovation plays a mediating role that digital transformation promotes green technological innovation and thus inhibits corporate financialization. Finally, the inhibitory effect of digital transformation on corporate financialization is obvious in private companies, and this governance role is significant in the east region of China. The research shows that deeper digital transformation impacts corporate decisions through green technology innovation, and that companies should consider the combination of digital technology and green projects.
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Board members have the potential to acquire significant insights into the dynamics of the market, the tactics employed by competitors, and the metrics used to evaluate internal performance by utilizing sophisticated analytics and visualization technologies.
“Board members have the potential to acquire significant insights into the dynamics of the market, the tactics employed by competitors, and the metrics used to evaluate internal performance by utilizing sophisticated analytics and visualization technologies [53].”
From Environmental, Social, and Governance-Based Artificial Intelligence Governance: Digitalizing Firms' Leadership and Human Resources Management (2024) · cites this paper as [53]
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Bharadwaj, A. S. (2000) · MIS Quarterly · doi:10.2307/3250983 · Cited by 5,042 · see citing works
Brock, J. K.-U., & von Wangenheim, F. (2019) · California Management Review · doi:10.1177/1536504219865226 · Cited by 622 · see citing works
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Sklavos, G., Theodossiou, G., Papanikolaou, Z., Karelakis, C., & Ragazou, K. (2024) · Sustainability · doi:10.3390/su16167154 · Cited by 66 · see citing works
- Authors
- Sui, B., & Yao, L.
- ORCID
- Venue
- Innovation and Green Development
- Publisher
- Elsevier BV
- Published
- 2023-03
- Volume
- 2
- Issue
- 1
- Pages
- 100032
- ISSN
- 2949-7531 (ISSN-L)
- OpenAlex
- W4317486252
- Cited by
- 104
- References
- 2
- Citations by year
- 2026: 17 · 2025: 23 · 2024: 35 · 2023: 29
- FWCI
- 22.40
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Licence
- Locations
- Innovation and Green Development (publishedVersion, cc-by-nc-nd)
- RePEc: Research Papers in Economics (submittedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Funders
- National Natural Science Foundation of China (71903118)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Digital Economy and Transformation
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Digital Transformation in Financial Services
- Social Sciences › Economics, Econometrics and Finance › Finance › Housing, Finance, and Neoliberalism
- Keywords
- digital transformation, corporate financialization, green technology innovation, mediating effect, cloud computing, listed companies, corporate governance, regional heterogeneity
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