Does the Reduction of Financing Cost in Digital Economy Promote the Green Technology Innovation of Enterprises? Analysis Based on Mediating Effect

© 2025 by the Authors. Licensee: Bio-Byword Scientific Publishing Pty Ltd, Australia. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution 4.0 International License ( https://creativecommons.org/licenses/by/4.0/ )

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Abstract

Using 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.

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