Digital economy policy and corporate low-carbon innovation: Evidence from a quasi-natural experiment in China

Abstract

We explore whether advances in digitalization of economies further green development by studying the impact of big data policies on low-carbon innovation. Using the low-carbon innovation data of Chinese listed companies from 2011 to 2019, we verify that China's big data comprehensive pilot zones (BDCPZ) policy facilitated corporate low-carbon innovation, especially for state-owned enterprises, low-technology firms, and firms with highly educated CEOs. Findings provide policy insights for the synergistic development of the digital economy and low-carbon innovation.