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Introduction: With the rapid development of digital technology and its deep integration with environmental and ecological fields, the digital economy has become an effective way to guide the transition of cities to an eco-friendly model. However, empirical studies on the nonlinear spatial effects between digital economy and ecological welfare performance are still insufficient. Methods: Based on the panel data of 270 prefecture-level cities in China from 2011 to 2020, this paper empirically examines the impact of the digital economy on the ecological welfare performance of cities and its mechanism of action using spatial econometric modeling. Results: The promotion effect of digital economy development on the ecological welfare performance of cities is characterized by the "J" shape of increasing marginal effect, and the spatial spillover effect on the ecological welfare performance of neighboring cities is the inverted "U" shape of inhibiting first and then promoting later. The mechanism test shows that the development of digital economy can enhance the ecological welfare performance of cities through the marginal incremental promotion of green technological innovation in local and neighboring cities and has a positive spatial spillover effect. The development of digital economy can have a direct U shape effect on local ecological welfare performance by influencing factor allocation efficiency and energy utilization efficiency. It also has an inverted U-shaped spatial spillover effect. Environmental regulation has an inverted U-shaped moderating effect on the local eco-welfare performance affected by the digital economy. As the level of rural revitalization increases, it produces a U-shaped moderating effect of inhibiting. Heterogeneity analysis reveals that digital economy development has a more significant facilitating effect and a positive spatial spillover effect on the ecological welfare performance of cities in central China. Discussion: This paper will provide a reference for the synergistic optimization of digital economy development and ecological welfare performance among regions. The findings of the study will promote the development of digital economy and accelerate the realization of the goal of "Beautiful China". [ABSTRACT FROM AUTHOR]

Fintech is driving the revolution of finance and profoundly affecting the development of the financial sector. However, few studies examined how commercial banks' fintech innovation affects total factor productivity (TFP). To build up the fintech index of commercial banks, we use web crawler technology to accumulate news related to the fintech innovation of commercial banks in Baidu news. We use the panel data of 72 banks in China from 2010 to 2020 to explore the impacts and mechanisms of fintech on commercial banks' TFP. The results show that fintech innovation effectively improves TFP after a series of robustness tests. Further, we find that fintech innovation can improve commercial banks' TFP by promoting innovations of financial products, increasing risk control capability, reducing cost, and improving profit. Also, the utility of fintech is more significant in banks with more assets, facilities, and human capital, which means that fintech innovation creates a "bigger is better" mindset. Meanwhile, the result of quantile regression shows that the higher the fintech innovation, the more significant the increase in TFP, which further reveals that there is 'too big to fail' among commercial banks under digitalization. [ABSTRACT FROM AUTHOR]

Based on the panel data of 625 industrial listed enterprises of China from 2012 to 2020, this paper employs the method of propensity score matching–difference in difference to investigate the effect of financial–industrial integration on the enterprise's green development performance and the moderating role of green technology innovation on the relationship between the two is also addressed. It finds that first, financial–industrial integration has a significant promoting effect on the improvement in green development performance of enterprises, and green technology innovation has a positive moderating effect on the relationship between the two. In addition, the effect of financial–industrial integration on enterprise's economic and social performance is not significant, and it mainly promotes enterprise's green development by stimulating environmental performance. Moreover, the degree of financial–industrial integration has a moderate range in which the role of financial–industrial integration can be better played. Further, compared with state-owned enterprise and large-scale enterprise, financial–industrial integration is more conducive to the green development of non-state-owned enterprises and small-scale enterprises. [ABSTRACT FROM AUTHOR]

The objective of this study is to examine the impact of government environmental concerns on green innovation and whether this has a "leverage effect" or a "crowding‐out effect." This study employs a two‐way fixed‐effects model to conduct an empirical test using panel data from 2010 to 2020 on Chinese firms listed in heavy‐polluting industries. The results suggest that an increase in government environmental concerns can promote corporate green innovation. However, government environmental concerns primarily stimulate strategic innovation rather than substantive innovation. After a series of robustness and endogeneity tests, the conclusions of this paper still hold. Corporate green innovation induced by government environmental concerns is not the "leverage effect" superimposed on existing innovation activities but the "crowding‐out effect" of other technological innovation. The heterogeneity tests in this paper indicate that the impact is more pronounced for firms with poorer environmental conditions, stronger political connections, and richer executive backgrounds. [ABSTRACT FROM AUTHOR]

Recombination innovation invented during organizations' research and development (R&D) collaborations is a vital mechanism for creating new technological knowledge for organizations. This study aims to reveal the contribution mechanism of different dimensions of proximity to the recombination innovation at the collaborative dyad level and how this mechanism depends on the characteristics of organizations' knowledge base structuration. We conceptualize that the interdependence among knowledge elements in the knowledge base forms the knowledge space of the organization and build a theoretical framework to explain the interactive effect of proximity and organizations' knowledge base characteristics on collaborative recombination innovation. We validated the theoretical hypotheses using Logit regression models based on the longitudinal data of 150 organizations in the global nanotechnology industry. As demonstrated by our findings, technological proximity exerts a negative effect, while geographic proximity exerts an inverted U-shaped effect on collaborative organizations' joint recombination innovation. Organizations' knowledge base decomposability plays a negative role in moderating the effect of technological proximity and plays a positive role in regulating the effect of geographic proximity. In contrast, the degree centrality of the knowledge elements positively moderates the effect of both technological and geographic proximity. [ABSTRACT FROM AUTHOR]

Background: In November 2015, China launched a pilot program for its Drug Marketing Authorization Holder (MAH) system, aiming to integrate production and research and development resources to spur drug innovation. While many scholars have examined the theoretical relationship between the MAH system and pharmaceutical manufacturing innovation, empirical studies have been scarce. Methods: This study uses inter-provincial panel data on China's pharmaceutical manufacturing industry from 2009 to 2019, along with synthetic control methods, to offer a robust analysis of the impact of the MAH paradigm on innovation quality in pilot provinces. We treat the 2015 MAH system implementation in ten provinces as a natural experiment and account for the mediating effects of R&D investments, allowing us to discern the underlying mechanisms. Results: Our findings demonstrate a significant positive effect of China's MAH system on innovation quality in the pharmaceutical manufacturing industry. Specifically, the system is most effective in Jiangsu, Guangdong, and Shandong provinces. We also identify R&D investments as playing a mediating role in facilitating the favorable impact of the MAH system on innovation quality. Conclusion: Our study highlights the crucial importance of the MAH system in promoting innovation quality in China's pharmaceutical manufacturing industry, providing vital empirical support for its adoption and further enhancement. This research also offers practical insights for policymakers and R&D decision-makers in the pharmaceutical sector. [ABSTRACT FROM AUTHOR]

Green innovation possesses dual externalities of "innovation" and "environmental protection", and enhancing energy efficiency serves as a crucial means to promote high-quality economic development. Building upon the energy rebound effect, we use the balanced panel data of cities at prefecture level and above in China from 2008 to 2018 to explore the impact of urban green innovation on total factor energy efficiency (TFEE). The findings of this study indicate that, firstly, the impact of green innovation on TFEE exhibits a positive U-shaped pattern, characterized by initial suppression followed by subsequent promotion. This conclusion remains robust after undergoing a series of rigorous robustness tests. Second, high-quality green innovation is found to reach the turning point more quickly, implying that substantial green innovation can cross the turning point in smaller quantities. Thirdly, on the whole, in comparison to non-resource-based cities, resource-based cities are capable of reaching the turning point at an earlier stage. Finally, the new energy demonstration cities have not yet reached the turning point, while the non-new energy demonstration cities have crossed the turning point. This study contributes novel insights into the relationship between green innovation and TFEE, which holds significant implications for the formulation and implementation of sustainable development policies. [ABSTRACT FROM AUTHOR]

Nowadays, there is an increasing recognition of the value of eco-innovation in both academic and practical spheres. Establishing the connection between eco-innovation and corporate performance is highly important. This paper aimed to analyze the correlation between eco-innovation, corporate performance, and company size. To accomplish this goal, the paper collected unique data from 383 global non-financial companies using the Refinitiv Eikon database from 2013 to 2022. This paper uses fixed effect and (generalized method of moment) GMM techniques to overcome possible endogeneity concerns. The strong empirical results display a positive relationship between eco-innovation and corporate performance. Importantly, this paper discovered that the size of companies significantly magnifies the effect of eco-innovation on corporate performance. Our findings are still robust to endogeneity concerns. The results confirm that prioritizing eco-innovation can benefit larger companies in multiple ways, including boosting productivity, avoiding penalties, expanding into new markets, improving green image, and gaining a competitive edge, all of which ultimately enhance corporate performance. Additionally, the extensive evaluation by stakeholders enables these larger corporations to generate increased profits. This paper aims to contribute the innovation literature by exploring an under-explored topic using extensive panel data and offering practical guidance for non-financial firm stakeholders. The implications of the findings have various impacts on future research and policy development. Furthermore, this paper aims to assist policymakers in establishing impactful mechanisms and guidelines that foster ecologically conscious attitudes. The conclusion assists managers in grasping the importance of context-based eco-innovation. [ABSTRACT FROM AUTHOR]

Confronted with the concurrent challenges of economic advancement and environmental management, this study explores whether implementing Intellectual Property Demonstration Policies (IPDP) can be a covert force in enhancing carbon emission efficiency. Utilizing panel data from 280 prefecture-level cities in China over the period 2007–2019, we employ a quasi-natural experimental design, incorporating multiple-period difference-in-differences models, mediation effect models, and spatial Durbin difference-in-differences models to assess the impacts of IPDP on carbon emission efficiency, its mechanisms of action, and its spatial spillover effects. The regression results of the multi-period difference-in-differences model reveal a statistically significant enhancement in carbon emission efficiency due to IPDP, with an impact coefficient of 0.044. Through heterogeneity tests, it is observed that the influence of IPDP on carbon emission efficiency varies based on regional characteristics, carbon emission levels, and the extent of marketization. The mediation effect model demonstrates that IPDP enhances carbon emission efficiency by fostering green technological innovation and facilitating the transformation of industrial structures. Furthermore, the spatial Durbin difference-in-differences model illustrates that IPDP positively influences the carbon emission efficiency of neighboring regions, indicating favorable spatial spillover effects. Notably, the indirect effect coefficients in the geographical distance matrix, economic distance matrix, and economic-geographical nested matrix are calculated as 0.673, 0.250, and 0.386, respectively. These findings offer compelling theoretical and empirical support for strengthening the intellectual property framework to optimize its environmental impact. [ABSTRACT FROM AUTHOR]

Drawing on the diffusion of innovation theory, we argue that the development of digital economy has a positive effect on urban economic resilience. Using panel data from 284 cities in China from 2011 to 2018, we empirically examine the relationship between digital economy and urban economic resilience. We find a positive and significant link between them, mediated by technological innovation and entrepreneurial vitality. Moreover, the heterogeneity analysis shows that the impact of digital economy is most pronounced in smaller cities, with its effects diminishing in larger cities and megacities. Our results underscore the importance and the direction of fostering digital economy development. [ABSTRACT FROM AUTHOR]

Independent innovation emphasizes the self-reliance and control of all key links. Slack resources within an organization, especially for innovation, are the critical resources that are controllable for independent innovation. However, existing research still lacks evidence on the areas of slack innovation resources and independent innovation for deeper exploration. This research addresses this gap by providing an empirical analysis of the relationship between R&D human resource slack and firms' independent innovation. Based on the unbalanced panel data of China's listed manufacturing firms for eleven years, this research explores the effects of R&D human resource slack on firms' independent innovation, the mediating mechanism of technological diversification, and the boundary effects of top management team functional heterogeneity. The results reveal that R&D human resource slack positively affects firms' independent innovation; R&D human resource slack can promote firms' independent innovation through related technological diversification, while the mediating effect of unrelated technological diversification is not statistically significant; the top management team functional heterogeneity strengthens the positive impact of R&D human resource slack on firm independent innovation. [ABSTRACT FROM AUTHOR]

This study examines how ambidextrous balanced innovation and ambidextrous combined innovation affect international entrepreneurial-oriented enterprise growth within the holistic paradigm of systems thinking and discusses the systemic impact of industry international competitiveness and industry financing dependence. We select the unbalanced panel data of China's ICT industry international enterprises from 2010 to 2021 for empirical research, and we employ the fixed effect model for testing. The empirical results indicate that both ambidextrous balanced innovation and ambidextrous combined innovation promote international entrepreneurial-oriented enterprise growth, that the industry's international competitiveness positively moderates the relationship between ambidextrous balanced innovation and international entrepreneurial-oriented enterprise growth, and that the industry's financing dependence negatively moderates the relationship between ambidextrous balanced innovation and international entrepreneurial-oriented enterprise growth. The aforementioned conclusion is robust against a series of robustness tests. This study expands the theoretical research on international entrepreneurship and ambidextrous innovation strategy selection and may help in the selection of ambidextrous innovation strategies for international entrepreneurial-oriented enterprises. [ABSTRACT FROM AUTHOR]

Based on the panel data of 276 prefecture-level cities in China from 2011 to 2020, this study explores the impact of digital inclusive finance (DIF) on carbon emissions and the intrinsic mechanism of green technological innovation from a spatial perspective by constructing a spatial econometric model, a mediating effect model, and a threshold model. The results show that DIF significantly inhibits carbon emissions, exhibiting a spatial spillover effect. The transmission mechanism from a spatial perspective shows that green technological innovation plays a partial mediating role between DIF and carbon emissions, with the mediating effect accounting for approximately 59.47%. The heterogeneity analysis suggests that the impact of DIF on the reduction of carbon emissions is more pronounced in large and medium-sized cities and eastern regions. Further discussion reveals that the carbon reduction effect of DIF is also influenced by green technological innovation and industrial structure upgrading, showing threshold effects with marginal decreases and gradual increases, respectively. [ABSTRACT FROM AUTHOR]

This article aims to investigate whether differences in ESG ratings have an impact on corporate green innovation behavior. A high-order fixed effects model was established using panel data from Chinese companies from 2009 to 2022 to empirically test the impact of ESG rating divergence in the Chinese market on corporate green innovation behavior.The study demonstrates that ESG rating disparity raises the quantity but lowers the quality of businesses' green innovation efforts because of the short board effect. After a series of robustness tests, the results are still valid.The mechanism investigation reveals that both an external pressure channel and an internal strategy adjustment channel are responsible for the impact of ESG rating disparity on green innovation efforts. The asymmetry of corporate green innovation activities is exacerbated by managers' self-interest, whereas the asymmetry of green innovation is mitigated by the caliber of government. According to the heterogeneity analysis, the divergence of a business's ESG rating between large-scale, non-heavy polluting, and places with strong environmental regulations can effectively slow down the asymmetric behavior of enterprise innovation activities. Additional investigation reveals that the phenomenon of ESG rating divergence spreads across industries and geographical areas. The short board effect of ESG rating divergence can be effectively mitigated by improving the quality of enterprise information disclosure and speeding up the digital transformation of businesses. The research conclusion provides marginal contributions on how to improve China's ESG rating system and how enterprises can identify ESG rating differences and make scientific decisions. [ABSTRACT FROM AUTHOR]

Digital transformation constitutes a crucial component of the digital economy and represents a microcosmic manifestation, playing a vital role in advancing enterprise sustainable development from the perspective of green innovation quality. Using the panel data of Chinese listed companies from 2011 to 2020, the study examines the impact of digital transformation on the quality of green innovation. The study finds that digital transformation significantly increases the green innovation quality of enterprises. Moreover, the positive effect of digital transformation on green innovation quality is strengthened by the executive with digital knowledge experience and in regions with high-level intellectual property protection. The study findings contribute to digitalization research and the literature on green innovation, and provide suggestions for managers and policymakers seeking to improve the quality of environmental sustainability through digital transformation in developing economies. [ABSTRACT FROM AUTHOR]

Foreign Direct Investment is theoretically expected to facilitate the transfer of knowledge from the home country to the host country, however, the empirical evidence on the subject is mixed. Some studies have shown that, on one hand, as competition grows, the incentive to innovate reduces with the decrease in monopoly rents (Schumpeterian effect). On the other hand, market competition can also boost investments in R&D activities incentivized by incremental profits (Escape-Competition effect). Therefore, this study aims to explore which of these two effects dominates in the selected group of countries. This study also identifies the moderators of the relationship between FDI stock and domestic innovation. It examines the role of absorptive capacity, quality of regulations, and property rights protection in the innovative activities of the host countries. Generalized Method of Moments is used to estimate the parameters of the multivariate regression equation. The analysis is based on panel data consisting of 49 countries over 14 years. The results show that FDI has a negative relationship with domestic innovation, indicating the presence of the Schumpeterian effect. The extensions of the main models show that FDI positively affects domestic innovation in countries with higher absorptive capacity, the superior quality of regulation, and stronger protection of property rights. This study shows that the positive relationship between FDI and domestic innovation is conditional on the ability to absorb knowledge and quality of governance in the recipient countries. [ABSTRACT FROM AUTHOR]

Promoting the high-quality development of the marine economy is an inevitable choice for building a maritime power, and technological innovation can provide strong impetus for the high-quality development of the marine economy. Therefore, it is urgent to clarify the impact mechanism of technological innovation on the high-quality development of the marine economy, and promote the high-quality development of the marine economy. This study employs panel data from 11 coastal provinces and municipalities (autonomous regions) in China, spanning the years 2006 to 2020. The objective is to empirically evaluate the mechanism through which scientific and technical innovation impacts the high-quality development of the marine economy. This is achieved by utilizing the PVAR model and the mediation effect model. The research findings indicate that there is a noteworthy impact of enhancing scientific and technological innovation on the marine economy of China. Moreover, there exists a significant reciprocal relationship between scientific and technological innovation and the pursuit of high-quality development in the marine economy. It is observed that scientific and technological innovation not only has a positive influence on the high-quality development of the marine economy by enhancing green total factor productivity and optimizing the industrial structure, but it also facilitates the advancement of the marine economy through the chain mediation path of "improving green total factor productivity and optimizing industrial structure". [ABSTRACT FROM AUTHOR]

Using panel data for Chinese prefecture-level and above cities from 2003 to 2017, we employed the difference-in-differences (DID) method to explore whether innovative city constructions reduced carbon emissions. The results show that innovative city constructions significantly curb carbon emissions in Chinese cities, which is supported by a series of robustness tests. Specifically, we found that innovative city constructions could reduce carbon emissions by 5.21%, which is equivalent to a total of about 5.46 million tons. In addition, we provided evidence that innovative city constructions curb carbon emissions by promoting technological innovation, industrial upgrading and industrial green development, ecological improvement, and government intervention. Furthermore, heterogeneous results indicate that the carbon reduction effect of innovative city constructions is mainly found in eastern cities and cities with better industrial development and human capital base. Our findings further enrich the study on the environmental benefits of national innovation incentives and public policies and provide important insights in carbon neutrality and achieving sustainable development, especially for developing and emerging market countries. [ABSTRACT FROM AUTHOR]

Enhancing carbon productivity (CP) is key to achieving carbon reduction goals while maintaining economic growth. Digital technology plays a significant role in improving CP. Based on panel data from 136 countries worldwide from 2000 to 2020, this study empirically examines the impact of digitalization on CP and its mechanisms using fixed-effects and mediation models. The conclusions are as follows: (1) Overall, digitalization significantly enhances CP. (2) In terms of the mechanism, digitalization primarily improves CP through technological innovation and mitigating income inequality. (3) In terms of the quantile regression results, as the quantile level of CP increases, the promoting effect of digitalization on CP gradually strengthens. (4) From the perspective of heterogeneity among regions, income levels and human capital levels, digitalization has the greatest promotion effect on carbon productivity in European countries, high-income countries and high human capital countries. This study provides a reference for policymakers worldwide to use digital technology in achieving carbon emission reduction targets. [ABSTRACT FROM AUTHOR]

Although previous studies have predominantly dealt with innovation ambidexterity, they have only focused on a single innovation activity and overlooked the interaction of innovation activities. Drawing on organizational ambidexterity theory, this study established four types of innovation configurations: dual exploration (technology exploration and business model exploration), business model leveraging (technology exploration and business model exploitation), technology leveraging (technology exploitation and business model exploration), and dual exploitation (technology exploitation and business model exploitation). Using the panel data of 613 listed manufacturing firms in China, this study examined whether and how configurations of ambidextrous innovation affect firm performance in the context of digital transformation. Empirical results provide evidence that a dual exploration and technology leveraging strategy has a positive impact on firm performance, while a dual exploitation and business model leveraging strategy has the opposite effect and is subject to the moderating influence of the level of digitalization. Under high levels of digitalization, the positive effect of the dual exploration strategy on firm performance becomes more significant, while the effects of others are weakened. This study contributes to the organizational ambidexterity literature by providing a finer-grained understanding of the effect of ambidextrous innovation from a configurational perspective. This study also contributes to the digitalization transformation literature by revealing the moderating role of digitalization. [ABSTRACT FROM AUTHOR]

• The co-agglomeration accentuates haze pollution. • Co-agglomeration has obvious spatial effects on haze pollution. • The pollution effect of co-agglomeration is weakened with the improvement of the economic level. • Technological innovation has an inhibitory effect on the pollution effect of co-agglomeration. The issue of haze in the middle reaches of the Yangtze River urban agglomeration has significant implications for China. Concurrently, co-agglomeration and technological innovation are key factors influencing haze pollution. Using the panel data composed of PM2.5 concentration and other data from 27cities in the middle reaches of the Yangtze River urban agglomeration between 2010 and 2020, this paper empirically investigates the impact of co-agglomeration and technological innovation on haze pollution. From this rigorous analysis, several conclusions crystallize: (1)the co-agglomeration of productive services and manufacturing accentuates haze pollution, showcasing notable regional variances;(2)the haze pollution has a significant positive correlation with the co-agglomeration levels in local and neighboring regions;(3)the negative consequences of co-agglomeration on environments reduce as the agglomeration of productive services and economic development increases;(4)technological innovation significantly moderates the pollution effects of co-agglomeration. [ABSTRACT FROM AUTHOR]