| Title | Examining the Transformative Influence of Digital Finance on Green Technological Innovation: Empirical Insights from China |
|---|---|
| ID_Doc | 35338 |
| Authors | Zhao, BB |
| Title | Examining the Transformative Influence of Digital Finance on Green Technological Innovation: Empirical Insights from China |
| Year | 2024 |
| Published | |
| Abstract | In the pursuit of high-quality development and sustainability, China has been at the forefront of scientific and technological advancements. This research paper delves into the dynamic interplay between digital finance and green technological innovation, offering valuable insights for policymakers, enterprises, and the academic community. While flourishing in many aspects, China's innovation ecosystem faces challenges related to limited independent innovation capacity and slow market transformation. This paper sheds light on the often-overlooked but critical aspect of financial support as the foundation for enterprises' technological innovation efforts. It explores how digital finance, as an innovative financial service model, plays a pivotal role in overcoming challenges related to funding, financing costs, and unstable financing channels, particularly in the context of green technology innovation. The study employs a threshold model for nonlinear characteristic testing, unraveling the dynamic impact of digital finance on green innovation. Also, it integrates heterogeneity analysis with traditional financial resource mismatch scenarios, showcasing the inclusive characteristics of digital finance in fostering green innovation across various dimensions. Empirical examinations substantiate the positive effect of digital financial development on green innovation and provide empirical support for the integration of digital finance into the innovation landscape. This paper underscores the vital role of digital finance in enhancing the quality of enterprise green innovation, promoting sustainability, and contributing to China's high-quality development goals. It proposes key recommendations, including deepening integration, strengthening digital technologies, and building an inclusive financial system to seamlessly integrate scientific and technological innovation with digital financial services. These recommendations pave the way for substantive and sustainable green innovation, aligning with China's vision of innovation-driven development and low-carbon transformation. |
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