跨境电商对企业创新的影响

… policy effects of Comprehensive Cross-Border E-Commerce Pilot Zones (CCBEPZs) on enterprise innovation … "substitution effect" on corporate innovation: government subsidies crowd …

This study employs the China Cross-Border E-Commerce Comprehensive Pilot Zone(CECPZs)policy as a quasi-natural experiment and constructs time-varying difference-in-…

The rapid development of cross-border e-commerce has not only helped businesses expand into international markets but also facilitated technological exchanges and resource sharing among enterprises, ultimately promoting green innovation. This study is based on data from Chinese listed companies from 2013 to 2023, utilizing web scraping technology to extract corporate announcements and employing a cross-border e-commerce keyword dictionary to identify specific time points when companies engaged in cross-border e-commerce activities. These time points are treated as policy shock events, and a difference-in-differences model is employed for empirical analysis. The findings reveal that engaging in cross-border e-commerce significantly enhances a company’s level of green innovation. Mechanism analysis indicates that cross-border e-commerce indirectly promotes increases in green patent applications by alleviating firms’ financial constraint and promoting their digital transformation, while environmental information disclosure also plays a positive moderating role. Heterogeneity analysis shows that this promotional effect is more pronounced among high-tech enterprises, firms in high-pollution industries, large state-owned enterprises, and companies in China’s central and western regions. The study’s conclusions provide a reference for enterprises to achieve sustainable development through cross-border e-commerce activities.

… cross-border e-commerce but also offers valuable insights for China to deepen institutional innovation and refine policy … vehicle for trade policy innovation. Their institutional design and …

Cross-border e-commerce (CBEC) is a driving force behind international trade and corporate upgrading in the era of global digital transformation. This research aims to investigate the extent to which the establishment of China’s Cross-Border E-Commerce Comprehensive Pilot Zones (CBECPZs) expands the innovation boundaries of firms. We employ a multi-period difference-in-differences (DID) model to analyse panel data for Chinese A-share listed companies from 2010 to 2023, viewing the phased introduction of CBECPZs as a quasi-natural experiment. The empirical results indicate that the establishment of CBECPZs substantially expands the innovation boundaries of firms, as evidenced by an increase in patent applications in new technological domains. This finding is confirmed by parallel-trend checks, propensity-score-matching DID, placebo testing, and double-machine-learning calculations. The mechanism analysis shows that CBEC mainly fosters innovation by improving enterprises’ digital-marketing capacities, reducing information asymmetry, promoting technology spillovers, and encouraging human-capital investment. In addition, the strategy promotes innovation more effectively for eastern Chinese companies, high-technology firms, and non-state-owned enterprises. This study provides micro-level evidence from China regarding the innovative effects of cross-border e-commerce and clarifies how digital trade redefines organisational innovation parameters. In doing so, it offers both theoretical and practical insights for policymakers refining CBEC regulations and businesses leveraging digital platforms for innovation advancement.

Cross-border e-commerce, as an emerging trade format, offers new chances for optimizing industrial chains’ layout, enhancing economic resilience, and attaining high-quality development at the city level. In this context, treating the execution of the cross-border e-commerce comprehensive pilot zone (CBEC) as a quasi-natural experiment, this study subtly attests to how the CBEC affects urban entrepreneurship by using a difference-in-differences (DID) technique. The results exhibit that the CBEC greatly promotes urban entrepreneurship, which is supported by some robustness tests, including instrumental variable testing and placebo testing. Heterogeneity analysis reveals that in cities with more developed economies, stronger digitalization, richer cultures, sounder law rules, and better business environments, the benefit for the CBEC on entrepreneurship is more significant. Mechanism testing argues that the CBEC promotes urban entrepreneurship through talent aggregation and industrial upgrading. Precisely, the more concentrated high-quality talents are and the more advanced the industrial structure is, the higher the urban entrepreneurship. More importantly, the CBEC exhibits a spatial spillover effect on entrepreneurship, promoting local entrepreneurship while stimulating the motivation to imitate and learn in neighboring areas, thereby driving their entrepreneurship. The findings offer a viable decision-making guide for building a unified factor market and achieving regional coordinated development.

… establishment of cross-border e-commerce comprehensive … pilot zones as a quasi-natural experiment. We systematically … for cross-border e-commerce,” which accelerated policy 148 …

… of digital trade policy and cross-border e-commerce. Regarding CBECCPZ as a quasi-natural experiment, we provide novel evidence that cross-border e-commerce policy is good for …

Using the establishment of Cross-Border E-Commerce Comprehensive Pilot Zones as a quasi-natural experiment, this paper employs double-debiased machine learning methods to …

… of cross-border e-commerce (CBEC) on firm innovation in … to evaluate the policy shock effect of CBEC in pilot zones. The … considered the policy shock effect of CBEC in pilot zones in …

… and safeguarding steady economic performance. Meanwhile, cross-border e-commerce (CBEC) as a new form of digital trade, is reshaping the way firms participate in international …

ABSTRACT Cross-border e-commerce (CBEC) is becoming critical for a strong supply chain. Using data from Chinese listed firms and a difference-in-difference (DID) model, this paper examines the impact of CBEC development on supply chain efficiency from the perspective of enterprise inventory. CBEC significantly reduces enterprises’ non-finished goods inventory and improves supply chain efficiency. The mechanism tests reveal three ways in which CBEC optimizes enterprises’ inventory and enhances supply chain efficiency: improving the performance of upstream-facing sourcing, increasing the efficiency of enterprises’ product transformation, and optimizing downstream-facing demand coordination. The heterogeneous results suggest that CBEC has a greater impact on the supply chain efficiency of firms with high operational volatility and capital intensity and low digitization levels. Further, the effect of CBEC on the reduction of non-finished goods inventory is more significant in regions with weak infrastructure development and location endowment. This study provides empirical evidence for the emerging development topic of new international trade patterns empowering industrial supply chains.

ABSTRACT Digital empowerment is reshaping business ecosystems across all dimensions. As a paradigm of green commerce, cross-border e-commerce (CBEC) offers distinct advantages in resource utilization efficiency, product environmental attributes, circular economy practices, and digital innovation. By transcending spatial barriers to factor mobility, CBEC facilitates interregional factor interaction, promotes agglomeration advantages in industrial chains, and fosters virtuous cycles in technology, labor, and capital – thereby driving upgrading and innovation in industrial ecological structures. Using panel data from 271 prefecture-level and above cities in China (2013–2021), this study measures green total factor productivity (GTFP) and analyzes CBEC’s intrinsic impact on it. Findings reveal that CBEC significantly promotes GTFP progress, with industrial structure and technological innovation serving as critical moderating variables. Heterogeneity analysis shows that eastern and non-resource cities exhibit stronger positive effects and moderating influences than central/western and resource-based cities. These insights offer valuable guidance for policymakers and business leaders to better understand and leverage CBEC ecosystems for enhancing GTFP.

… Cross-border e-commerce development's effect varies with regional marketization levels. … Cross-border e-commerce development's impact differs by industry competition intensity. …

This study leverages the National E‐commerce Demonstration City Pilot (NEDC) as a quasi‐natural experiment in e‐commerce infrastructure development. Utilising panel data from non‐financial firms listed on China's A‐share market from 2005 to 2022, we pioneered employ a multi‐period difference‐in‐differences (DID) approach to explore the direct and indirect effects of e‐commerce infrastructure on total factor productivity (TFP). Our findings reveal that: (1) The NEDC initiative significantly enhances firm‐level TFP. This result remains robust after addressing endogeneity issues through IV‐2SLS and propensity score matching and difference in differences methods and undergoing a series of robustness tests. (2) Channels tests indicate that the NEDC policy indirectly boosts firm TFP primarily by fostering technological innovation and augmenting human capital. (3) Heterogeneity analysis demonstrates that the NEDC policy effectively stimulates TFP growth in state‐owned enterprises, firms with high equity concentration, manufacturing and low‐tech industry firms. The policy's impact is more pronounced in cities with high administrative levels, in the eastern and central cities, and in cities with superior traditional infrastructure. The empirical evidence provided by this study not only supports the role of e‐commerce infrastructure in driving economic growth but also offers valuable insights for bridging the income disparity between developing and developed nations, and mitigating income inequality.

… ’s cross-border e-commerce reform (CBER) policy on corporate internationalization. Using a multi-period difference-in-differences … insights for promoting cross-border e-commerce. …

… , this study examines the impact of cross-border e-commerce policy incentives on the … difference-in-differences approach. By treating the establishment of Cross-Border E-Commerce …

It is a hot topic to enhance the stability, security, and sustainability of industrial chains, against the backdrop of adjustments and rising uncertainty in global value chains. Using Chinese A-share listed firms from 2012 to 2022 as the research sample, this study treats the establishment of Cross-Border E-Commerce Comprehensive Pilot Zones (CBECCPZs) as a quasi-natural experiment and employs a difference-in-differences approach to empirically examine the impact of digital trade (DT) on industrial chain resilience (ICR) and its underlying mechanisms. The findings demonstrate that DT exerts a significantly positive effect on ICR, providing strong support for the long-term sustainability of the economic system. This conclusion remains robust after a series of robustness checks, including the incorporation of high-dimensional fixed effects, exclusion of confounding policy effects, adjustments to the sample, dimension-specific tests, consideration of lagged effects, and propensity score matching. Mechanism analysis reveals that DT strengthens ICR primarily by promoting firms’ digital transformation and improving human capital levels. The heterogeneity results suggest that the contribution of digital trade to resilience differs markedly across structural dimensions: the effect is more significant among firms located in eastern regions, state-owned enterprises, firms operating in regions with higher levels of digitalization, manufacturing firms, firms in more competitive industries, and firms with stronger internal control systems. From the perspective of ICR, this study elucidates the intrinsic mechanisms through which DT fosters high-quality development and sustainable economic growth. The findings provide robust empirical evidence for understanding the strategic role of DT in enhancing the security, stability, and sustainable operation of industrial chains and in building a modern industrial system that is autonomous, controllable, secure, and efficient. Moreover, the study offers important policy implications for governments seeking to advance DT institutional innovation and promote coordinated regional development, as well as for firms aiming to leverage DT to enhance long-term competitiveness and achieve sustainable development goals.

Cross-border e-commerce (CBEC) represents a digitized form of international business that provides enterprises with an opportunity to enhance their innovation of green technologies. This paper explores the impact of CBEC on the green technological innovations (GTIs) among enterprises by examining China's CBEC Pilot Zone as a quasi-natural experiment. We employ panel data from China's A-share listed companies covering the period from 2011 to 2022 and implement a staggered difference-in-differences model for our analysis. The results of the study indicate that CBEC fosters the GTI and enhances both the quantity and percentage of green patents held by enterprises. These results remain robust after robustness tests and account for the effects of heterogeneity treatment. Heterogeneity analysis shows that this positive effect is particularly pronounced among large firms, non-state-owned firms, highly polluting industries, and firms in inland areas. Mechanism studies demonstrate that alleviating financial constraints and enhancing absorptive capacity are two crucial channels through which CBEC fosters GTI in firms. Notably, absorptive capacity significantly moderates the firm's information advantage, amplifying the effectiveness of this process.

… This study examines the impact of China’s Cross-Border E-Commerce Pilot Zone (CBECPZ) policy on small- and medium-sized enterprise (SME) financing costs. Using 2010–2024 data…

在全球数字经济蓬勃发展的背景下，中国跨境电商迅速崛起，成为推动外贸增长的重要力量。通过构建跨境电商发展水平综合评价体系，并运用实证分析方法，系统分析了2013-2022年间我国30个省份跨境电商发展对外贸进出口的影响。结果表明，跨境电商发展水平越高，越能显著提升外贸进出口额，且对出口的正向影响大于进口。同时，区域间跨境电商发展的异质性显著，东部和西部省份跨境电商发展对外贸的促进作用大于中部省份。据此提出加大政策扶持、推动跨境物流体系建设、加强企业品牌建设和多元人才培养等对策建议，以促进我国跨境电商持续健康发展，进一步推动我国外贸进出口的持续增长。

Entrepreneurial activity is a key indicator of regional economic vitality and innovation capacity. Against the backdrop of accelerating digital economic development, cross‐border e‐commerce (CBEC), as a new form of international trade, is not only reshaping the global trade landscape but also injecting new momentum into regional entrepreneurship. This study exploits the phased rollout of China's CBEC Comprehensive Pilot Zones as a quasi‐natural experiment. It constructs a multi‐period difference‐in‐differences model using panel data of 286 prefecture‐level cities from 2008 to 2021 to evaluate the policy's impact on urban entrepreneurial activity and explore potential mechanisms. The empirical results show that, first, the CBEC policy significantly promotes the growth of new firm creation and exhibits robust positive effects. Second, mechanism analysis reveals that the policy operates through four main channels: digital empowerment of traditional industries, venture capital agglomeration, high‐skilled talent attraction, and enhancement of high‐end manufacturing product exports. Third, heterogeneity analysis indicates that the policy effect is more pronounced in inland, peripheral, and resource‐based cities, and that non‐state‐owned enterprises and technology‐intensive sectors benefit more significantly. This study enriches the analytical framework of digital trade and entrepreneurship, deepens the understanding of the economic effects of CBEC policy, and provides empirical evidence to support regional entrepreneurship policymaking in the context of institutional opening‐up.

… This study makes an innovative contribution to the literature by empirically … pilot zones, and offers practical guidance for governments in formulating cross-border e-commerce policies …

… Zones, pioneered by China since 2015, represent a policy innovation designed to integrate digital technologies with international trade frameworks. These zones are testing grounds for …

… Cross-border e-commerce (CBEC) is emerging as a pivotal catalyst for trade between China and other countries. This study leverages the policy of CBEC pilot … e-commerce innovation …

The establishment of cross‐border e‐commerce (CBEC) comprehensive pilot zones is a crucial initiative for advancing China's high‐level opening‐up strategy. This study treats the establishment of these pilot zones as a quasi‐natural experiment and employs a staggered difference‐in‐differences (DID) model, utilising panel data from 279 prefecture‐level cities and above from 2014 to 2023. It explores the impact of this policy on digital inequality within regions and the mechanisms driving this effect. The findings are as follows. First, the establishment of CBEC comprehensive pilot zones exacerbates digital inequality within cities, a conclusion that is supported by a series of robustness tests. Second, this policy primarily influences digital inequality through channels such as unequal economic development, uneven entrepreneurial activity, and disparate financial development. Third, heterogeneity tests reveal that the policy's effect on exacerbating digital inequality is more pronounced in cities located southeast of the Hu Huanyong Line, in transportation hub cities, and in non‐old industrial base cities. Finally, spatial analysis indicates that the establishment of CBEC comprehensive pilot zones has a spatial spillover effect on the expansion of digital inequality. This study enriches the theoretical understanding of the causes of digital inequality and offers policy insights for narrowing digital divides within cities.

Cross-border e-commerce, as a vital form of digital trade, is emerging as a new engine for corporate internationalization. This study employs China’s cross-border e-commerce pilot zones (established since 2015) as a quasi-natural experiment to investigate their causal effects on Chinese cities’ outward foreign direct investment (OFDI) and the underlying mechanisms. Distinct from previous trade-focused studies, this paper innovatively adopts a greenfield investment perspective. By integrating the Global Greenfield Investment Database (2010–2022) with the China City Statistical Yearbook, we constructed a greenfield OFDI dataset spanning the city–destination–target industry dimensions. Based on this dataset, this study employs a time-varying DID approach combined with PSM-DID, parallel trend tests, and placebo tests to empirically analyze how cross-border e-commerce development influences OFDI and its underlying mechanisms. The findings reveal that establishing cross-border e-commerce pilot zones boosts local outward investment by approximately 18.8%. A binary marginal decomposition analysis indicates that this effect primarily manifests through the extensive margin—significantly driving investment into new destination markets. Additionally, the mechanism operates by reducing information search costs and enhancing factor allocation efficiency. Furthermore, the outward investment promotion effect of cross-border e-commerce pilot zones is more pronounced in samples where the destination is a developed country, the target industry is high-tech, and the origin is eastern China. This study not only expands the dimensions for assessing the economic effects of cross-border e-commerce but also provides concrete empirical evidence for governments to optimize digital trade policy arrangements and for enterprises to leverage digital tools to overcome the “Liability of Foreignness” and achieve internationalization.

We take the establishment of cross-border e-commerce comprehensive pilot zones as the quasi-natural experiment, based on China’s General Administration of Customs Database, China Customs Online Inquiry Platform, ‘Cross-Border E-Commerce Retail Import Commodity List’ and other data. By employing the staggered DID method, this paper systematically investigates the potential of cross-border e-commerce to enhance the quality of imported products. The research findings reveal the following: Since the introduction of the cross-border e-commerce comprehensive pilot zones, there has been a significant improvement in the quality of imported products in China. These effects, however, vary across different product types and regions, suggesting heterogeneous impacts. The cross-border e-commerce comprehensive pilot zones have facilitated the development of import trade in China through three main avenues: reducing search costs, resolving financing challenges, and lowering tariffs. These measures have collectively contributed to the reduction of trade costs.

Against the backdrop of prevailing trade protectionism and frequent global cri-ses, China's economy is undergoing a critical transition from rapid growth to high-quality development. Economic resilience reflects the ability of a country or region to restore economic growth and forge a new pattern of development after suffering external shocks. Therefore, studying the factors influencing eco-nomic resilience can provide references for China to achieve high-quality de-velopment. Meanwhile, the pilot cities for cross-border e-commerce compre-hensive pilot zones have basically achieved nationwide coverage. the State Council has approved the construction of eight batches of cross-border e-commerce comprehensive test zones, forming an open pattern of "East-West two-way mutual aid, land and sea linkage". Based on this context, this paper ex-plores whether the policy of cross-border e-commerce comprehensive pilot zones can effectively enhance urban economic resilience. This paper first reviews the literature on the impact of cross-border e-commerce comprehensive pilot zones on urban economic resilience. It then uses theories such as transaction costs, path dependence, and growth poles as the theoretical foundation to analyze the mechanisms through which the policy of cross-border e-commerce comprehensive pilot zones affects urban economic resilience. Sub-sequently, it briefly elaborates on the establishment and institutional system of the cross-border e-commerce comprehensive pilot zones. Based on the research conclusions and relevant theoretical analysis, countermeasures and suggestions are proposed from aspects such as improving the development mechanism of cross-border e-commerce comprehensive pilot zones, strengthening the intro-duction and cultivation of professionals, and optimizing the spatial layout of the cross-border e-commerce comprehensive pilot zones.

As an important driving force for economic growth, digital trade provides opportunities for urban green development. Using city-level data in China from 2005 to 2020, we take the cross-border e-commerce comprehensive pilot zone (CBEC) as a policy shock to construct a spatial difference-in-difference (SDID) model, which is adapted to quantitatively examine the carbon reduction effects and impact mechanisms of CBEC policy. The results confirm that the implementation of CBEC policy significantly reduces the carbon emissions (CE) of pilot cities about 4.5%, mainly due to resource allocation efficiency promotion, industrial structure upgrading, and green technology boosting. Meanwhile, there is a significant spatial spillover effect, resulting in a 3.9% CE decrease in the neighboring cities. In addition, the CBEC policy has a more significant CE reduction effect in resource-based and high-degree information cities. Our results provide evidence for the economic effect of digital trade and accelerate green development in cities.

… cross-border e-commerce platforms affect their performance. … a leading Chinese cross-border e-commerce platform, this … in sellers’ networks influence performance, how such impacts …

This study examines how manufacturing enterprises leverage the network effects of cross-border e-commerce (CBEC) platforms to engage in real-time interactions with customers to …

… advanced production technologies and management systems, improve production efficiency … Furthermore, foreign shareholders typically strengthen a company's financial strength and …

Background: Driven by economic globalisation and technological advancements, cross-border e-commerce (CBEC) has witnessed unprecedented growth. This dynamic sector has attracted significant scholarly attention, leading to a proliferation of fragmented research. However, traditional literature reviews often lack the objectivity and depth required for a thorough understanding of the field.Aim: This study aims to bridge the gap by employing a bibliometric analysis to systematically explore the research landscape of CBEC. The objective is to uncover key trends, knowledge structures and evolutionary pathways within the domain.Setting: The analysis focuses on 914 CBEC-related publications from 2015 to May 2024, sourced from the Web of Science (WoS) database.Method: Utilising the CiteSpace tool for visual bibliometric analysis, we extract and elucidate key information regarding publication distribution, authors, research institutions, countries and keywords.Results: The study shows CBEC research entering maturity with key themes like innovation, China, and logistics. It highlights shifts from competition to integrated digital strategies and from market access to AI and blockchain. Future studies will focus on China’s role, consumer perception, and supply chain innovation.Conclusion: This study offers a comprehensive bibliometric analysis of CBEC, providing a structured framework to understand its evolution.Contribution: It identifies key trends and emerging research themes, contributing theoretical insights into the interplay between technologies and cross-border trade, while offering practical guidance for industry adaptation.

… explores the impact of cross-border e-commerce on service trade… The study finds that cross-border e-commerce significantly … relationship between cross-border e-commerce and …

… of the development of cross-border e-commerce commerce on residents' … cross-border e-commerce pilot zone as a quasi-natural experiment. By employing a difference-in-differences (…

low-carbon

This paper identifies the systemic shocks of total factor productivity (TFP) at the macro level and industry level, and then evaluates the structural stickiness of TFP shocks by using information entropy and industry correlation degree through counterfactual structural simulation based on China’s manufacturing companies. We find that: in the face of TFP systemic shocks, the industries with less structural stickiness include computer communication and other electronic equipment manufacturing, special equipment manufacturing and general equipment manufacturing, indicating that these industries have a strong internal innovation power. The TFP distribution of electrical machinery and equipment manufacturing industry and ferrous metal smelting and rolling industry showed structural differentiation, and the lower tail enterprises are not sensitive to TFP shocks. The industries with strong structural stickiness are non-ferrous metal processing industry and non-metallic mineral products industry, etc., which have weak internal innovation power and need exogenous innovation incentives. In addition, there is a significant positive correlation between industry correlation and information entropy, which emphasizes the radiation effect role of industries with high industry correlation degree. The research provides a new method to evaluate the innovation ability of the industry and a basis for the differentiation of innovation incentive policies in the industry.

… this pilot policy has a significant impact on the total factor productivity (TFP) of enterprises. By … If there are pre-existing trend differences before the technological shock, subsequent …

Innovation and productivity improvements are essential drivers of economic growth, social stability, and sustainable development. As a high-risk, long-term activity, innovation requires external support, especially from the financial sector. In response, governments have introduced various financial support policies, yet their effectiveness remains debatable. Using panel data from Chinese listed firms between 2006 and 2022, we examined the impact of an innovation-oriented financial support initiative in China—the Technology and Finance Integration (TFI) pilot—on firm innovation and total factor productivity (TFP). This quasi-natural experiment effectively alleviated endogeneity and helped us establish the causality. Our results show that TFI significantly enhances both the quantity and quality of firms’ innovation, as well as TFP. Furthermore, we found that the policy effects are more pronounced in firms with higher perceived uncertainty, in private firms, and in those located in regions with advanced financial development. Improved liquidity conditions, increased R&D investment, and better asset allocation constitute plausible mechanisms for interpreting our results. Theoretically, this paper complements the research on the nexus between financial support and innovation activity, shedding light on the underlying mechanisms. Practically, our findings provide valuable insights for the formulation of financial policies to promote innovation, particularly in developing countries that lack sufficient R&D incentives and effective market mechanisms to drive technical upgrading and productivity growth.

… Yet, little is known about how it affects total factor productivity (TFP), a determinant of long-… on TFP in state-owned enterprises (SOEs), particularly local ones. The decline in TFP growth …

… on how CPU affects corporate innovation, investment behavior, … the channel through which policy shocks operate, this paper … of climate policy uncertainty on total factor productivity, we …

… TFP through three pathways: exacerbating financing constraints, suppressing technological innovation … This paper employs climate shocks as the core explanatory variable, identifying …

This paper discusses the impact of trade policy uncertainty (TPU) on innovative behavior in export‐oriented enterprises using data of nonfinancial Chinese A‐share listed companies from 2007 to 2021. TPU index is constructed using a tariff measurement method and a text mining method after China’s accession to the WTO. The findings reveal that (1) the decrease in TPU promotes export‐oriented enterprises’ innovative input and output, and the positive effect is even more pronounced in eastern export‐oriented enterprises, general trade enterprises, and enterprises whose export destination is the high‐income countries. (2) For analyzing the transmission mechanism, it is found that the export scale, the financing restriction, and the digital transformation play positive intermediary roles, respectively, in the innovative behavior. The conclusions provide not only theoretical support to cope with TPU but also decision‐making reference on improving the innovative performance of export‐oriented enterprises.

High-quality renewable energy development requires a shift to a productivity-driven growth model and government guidance funds emerge as a crucial industrial policy tool for new industries. However, the role of government guidance funds in improving firm-level productivity in the renewable energy sector remains underexplored. Based on the data from government guidance fund investment events and a sample of listed renewable energy firms in China from 2008 to 2022, in this article, we employ a two-way fixed-effects model to examine the correlation between government guidance funds and renewable energy companies’ total factor productivity. Our results indicate that: First, government guidance funds are associated with productivity improvements in the renewable energy sectors. The robustness of the main findings is verified through multiple approaches addressing potential endogeneity, including propensity score matching, Heckman selection, dynamic panel, instrumental variable, and staggered difference-in-differences methods. Second, financing capability and innovation input are two important influence paths. Third, the effects of government guidance funds on productivity promotion exhibit heterogeneity in renewable energy firms, under the influence of factors, including corporate risk taking, industry competition, and regional factor markets. This study contributes to the literature on renewable energy policy incentives and government venture capital, providing theoretical and practical insights for leveraging government guidance funds to advance the low-carbon energy transition.

Abstracts We empirically examine the effects of climate policy uncertainty (CPU) on enterprises’ green total factor productivity (GTFP) and the mechanism pathways using panel data of …

This study evaluates how university-industry collaboration (UIC) affects total factor productivity (TFP). Based on unbalanced panel data of Chinese listed manufacturing enterprise …

This study investigates the critical role of government subsidy policy objectives in influencing firms’ total factor productivity (TFP) through the lens of conflicting policy goals between …

Full article: The impact of digital technology on total factor productivity based on innovation input: evidence from small and micro enterprises in Zhongguancun Science Park Skip to …

… method to examine their relationship with monetary policy shocks. Their findings indicate that … capital accumulation and TFP. Loose monetary policy shocks alleviate corporate financing …

… listed enterprises spanning from … total factor productivity (TFP) of PV enterprises. Main findings include: (1) The subsidy withdrawal policy significantly improves the TFP of PV enterprises…

This study empirically examines the nexus between Chinese Fiscal Policy Uncertainty (CFPU) and corporate total factor productivity (CTFP) using a panel dataset of Chinese listed firms …

Drawing upon a comprehensive dataset encompassing Chinese publicly traded enterprises across the two-decade span from 2000 to 2020, this article analyzes the effects of external economic policy variations on the productivity of Chinese enterprises. The consequences show that when facing the aggravation of external variations in economic policy, enterprises prefer to enhance total factor productivity and labor productivity to reduce the risk caused by the expansion of external uncertainty. Moreover, the greater the degree of internationalization of an enterprise, the higher its vulnerability to variations in external economic policies. The mechanism test shows that for enterprises that only participate in domestic circulation, external economic policy fluctuations improve productivity by affecting the operating environment; however, when enterprises join in the dual circulation, the fluctuations will promote productivity by affecting the scale of enterprises’ overseas business instead.

… , and fostering technological innovation within enterprises. Heterogeneity … business environments. Overall, our findings demonstrate a positive impact of FinTech on enterprises’ TFP, …

Digital supply chain management (DSCM) has emerged as a critical driver of enterprise performance in the modern economy, yet empirical evidence on its causal impact on productivity remains limited. This study examines how DSCM adoption affects total factor productivity (TFP) by leveraging China’s supply chain innovation pilot program as a quasi-natural experiment. Using a difference-in-differences approach with propensity score matching, the analysis employs a comprehensive dataset of 2843 Chinese A-share listed companies from 2013 to 2022; the analysis reveals that DSCM adoption leads to an average TFP increase of 14.1%. This positive effect strengthens over time, demonstrating a clear dynamic of organizational learning. Mediation analysis indicates that this productivity enhancement operates through two primary channels: innovation capability enhancement (accounting for approximately 35% of the total effect) and cost efficiency improvement (21%). Crucially, heterogeneity analysis reveals that the positive effects of DSCM are significantly more pronounced in supply-chain-intensive industries, such as manufacturing, and for firms with higher R&D intensity. The findings provide robust causal evidence on the productivity effects of DSCM, offering valuable insights into its underlying mechanisms and key boundary conditions for both enterprise strategy and digital transformation policy.

… business environment on total factor productivity (TFP) of enterprises. Employing a city-level … environment index, we empirically analyze its impact on technological innovation and TFP …

Digital technology drives high-quality development in manufacturing while serving as a critical enabler for advancing the digital economy. Using data from the Chinese list of manufacturing enterprises from 2012 to 2023, this study empirically analyzes the impact of digital technology on total factor productivity (TFP) in manufacturing and its mechanism of action and further explores its heterogeneity. The results show that digital technology has significantly promoted total factor productivity in manufacturing; this effect was still valid after a series of robustness tests and endogeneity tests were conducted. The mechanism analysis indicated that digital technology enhances total factor productivity in the manufacturing enterprises through the enhancement of the innovation ability of enterprises and the reduction in the operation and management costs. The heterogeneity analysis showed that digital technology has a more significant effect on the total factor productivity enhancement of enterprises in the eastern region, state-owned enterprises, and small and medium-sized enterprises. The conclusions provide clear policy implications for the promotion of the digital transformation of enterprises, accelerating the formation of high-quality productivity in enterprises, and promoting the high-quality development of the manufacturing industry.