Department of Accounting, School of Management, Jinan University, Guangzhou, Guangdong, China.
Economics and Management School, Wuhan University, Wuhan, Hubei, China.
Environ Sci Pollut Res Int. 2023 Aug;30(36):85592-85610. doi: 10.1007/s11356-023-28356-5. Epub 2023 Jun 30.
The relationship between digital finance and regional green innovation has been partially confirmed, yet the role of environmental regulation in it remains unexplored. Therefore, this paper examines the impact of digital finance on regional green innovation and tests the moderating role of environmental regulation using Chinese city-level data from 2011 to 2019 as a research sample. The results show that digital finance can significantly promote regional green innovation by alleviating regional financing constraints and increasing regional R&D investment. Besides, digital finance has apparent regional difference effects (the contribution of digital finance to regional green innovation is greater in eastern China than in western China, and the development of digital finance in neighbouring regions has a negative transmission effect on local green innovation). Finally, environmental regulation positively moderates the relationship between digital finance and regional green innovation. This paper explores the relationship between digital finance and regional green innovation from the perspective of environmental regulation, providing empirical evidence to promote regional green innovation.
数字金融与区域绿色创新之间的关系已得到部分证实,但环境规制在其中的作用仍未得到探讨。因此,本文利用 2011-2019 年中国城市层面的数据,检验了数字金融对区域绿色创新的影响,并测试了环境规制的调节作用。结果表明,数字金融通过缓解区域融资约束和增加区域研发投资,显著促进了区域绿色创新。此外,数字金融具有明显的区域差异效应(数字金融对区域绿色创新的贡献在东部地区大于西部地区,相邻地区数字金融的发展对本地绿色创新具有负向传递效应)。最后,环境规制正向调节了数字金融与区域绿色创新之间的关系。本文从环境规制的角度探讨了数字金融与区域绿色创新之间的关系,为促进区域绿色创新提供了经验证据。