PBESProceedings of Business and Economic Studies2209-26412209-265XBio-Byword Scientific Publishing Pty. Ltd.10.26689/pbes.v8i8.13355ArticleDoes the Reduction of Financing Cost in Digital Economy Promote the Green Technology Innovation of Enterprises? Analysis Based on Mediating Effecthttps://artdesignp.com/journal/PBES/8/8/10.26689/pbes.v8i8.13355FuLimei2025882025-12-31Using simulated panel data, this study investigates the impact of the digital economy on corporate green technology innovation and its mediating role through financing costs. The empirical results demonstrate that the digital economy significantly enhances green innovation. It effectively reduces corporate financing costs, which in turn positively drives green innovation, a significant mediating effect. The study also reveals that firm size, profitability, industry type, and regional economic levels significantly moderate the digital economy’s role in promoting green innovation. Robustness tests confirm the reliability of the findings. This research provides a micro-level mechanism explanation for how the digital economy fosters green innovation and offers policy implications.

Wang J, Lei P, 2025, Collaborative Governance Mechanism of “Fiscal–Financial–Ecological” Systems for Resolving Local Government Implicit Debt Risks. New Finance, 2025(12): 38–48.

Cai W, 2025, New Quality Productive Forces Leading High-Quality Development of the Digital Economy: Theoretical Interpretation, Mechanism Analysis, and Promotion Pathways. Journal of Southwest University (Social Sciences), 2025: 1–12.

Sun H, Huo S, Chen G, 2025, The Effect of Digital Economic Development on Green Technological Innovation. Price Theory and Practice, 2025:1–7.

Xu H, Zhang Y, Zhang X, 2025, The Impact of New Quality Productive Forces on Green Trade: An Empirical Analysis based on Provincial Panel Data. Economic Issues, 2025(12): 100–110.

Hao J, Cui J, Jia H, 2025, A Configurational Analysis of How Dual-Transformation Synergy Empowers High-Quality Enterprise Development. Finance and Accounting Monthly, 2025: 1–7.

Ning J, Tang R, Yue H, 2025, Does the Digital Economy Promote Corporate Green Bond Issuance? Finance and Accounting Monthly, 2025: 1–6.

Gao L, 2025, New Quality Productive Forces, Digital–Real Integration, and the Development of a Green, Low-Carbon, Circular Economy. Ecological Economy, 41(12): 53–60.

Wang G, Zhang X, 2025, The Impact of Digital Trade on Green Economic Development and its Spatial Effects. Price Monthly, 2025: 1–15.

Zhu S, Li X, 2025, How Does the Digital Economy Empower Regional Green Development? A Perspective based on Reducing Capital Misallocation. Journal of Hunan University (Social Sciences), 39(6): 30–40.

Jiang D, Gao J, Guo S, 2025, Evolution of Digital Economy Collaborative Foundations and Green Development. Research on Technological Economy and Management, 2025(11): 62–69.

Zhuang S, Gu Y, 2025, Strategy Choices for Economic Catch-Up in Underdeveloped Regions of China in the New Era: Based on the Integration of the Digital Economy and Humanistic Economy. Journal of Shandong University of Finance and Economics, 37(6): 34–44.

Liu S, Wang Q, Zhang Y, 2025, The Impact of Digital-Industry New Quality Productive Forces on Coordinated Green and Low-Carbon Economic Development: From the Perspective of New Industries and New Technologies. Enterprise Economy, 44(11): 82–91.

Liu Y, Du W, 2025, The “U-shaped” Green and Low-Carbon Trajectory of the Digital Economy in China’s Three Major Urban Agglomerations: Effects and Mechanisms. Ecological Economy, 41(11): 28–39.

Wu X, 2025, Digital Economy Policies, Environmental Uncertainty, and Corporate Green Innovation. Statistics and Decision, 41(20): 35–39.

Li Z, 2025, The Impact of the Digital Economy on Corporate Green Technological Innovation: The Mediating Effects of Financing Costs and Carbon-Reduction Constraints. Statistics and Decision, 41(20): 29–34.