Digital economy, green technology innovation, and productivity improvement of energy enterprises

This study aims to address the important question of whether the digital economy can be deeply integrated with the energy sector to break through the resource and environmental constraints and thus enhance the productivity of energy companies. Using a sample of Chinese energy-listed companies, we comprehensively investigate the impact of the digital economy on the productivity of energy firms using the OLS method, mediated effects model, instrumental variables method, and difference-in-differences model. Research shows that the development of digital economy can significantly improve the productivity of energy enterprises. This effect is more obvious in eastern cities, non-resource-based cities, state-owned enterprises, and enterprises with high cash holdings. Green technological innovation in alternative energy production, transportation, and administrative supervision and design is an important channel for improving productivity in the digital economy. Internet development and digital inclusive finance can also improve the productivity of energy enterprises. “National Big Data Pilot Zone” and “Broadband China” pilot cities can play a policy role in improving the productivity of energy enterprises. The findings provide important insights for promoting the integration of the digital revolution with the energy technology revolution and accelerating the green development and digital transformation of the energy sector.