Environmental sustainability in the OECD: The power of digitalization,green innovation,renewable energy and financial development

Digitalization has emerged as a crucial factor in reducing pollution and holds significant potential for facilitating the transition to a low-carbon economy. Nevertheless, the environmental impact of digitalization hinges on the strategies for collaboration with various economic actors and, as a result, their engagement with digitalization. In light of this, the present study seeks to examine the externality effect of digitalization on green innovation, renewable energy, and financial development in relation to environmental sustainability. The analysis employs the System Generalized Method of Moments (SYS-GMM) for 36 OECD countries over the period of 2000–2018. The empirical findings indicate that digitalization, green innovation, renewable energy, and financial development substantially promote environmental sustainability. Moreover, the interaction between digitalization, green innovation, renewable energy utilization, and financial development enhances the ecological footprint-mitigating effect of digitalization. In view of these results, merging digitalization and environmental policies may yield more robust outcomes and improved environmental quality compared to implementing a single policy in isolation.     

技术背景首席执行官对企业金融化的影响——一个有调节的中介模型

近年来，中国经济脱实向虚趋势愈发明显，出现企业过度金融化现象。在上述背景下，基于烙印理论，以沪深A股2010—2019年上市公司为样本，实证研究技术背景CEO对企业金融化的影响机理与作用效果。结果发现：技术背景CEO对企业金融化行为具有显著负向影响；创新投入对企业金融化具有挤出效应，且在技术背景CEO抑制企业金融化的作用路径中发挥部分中介效应；企业社会责任和数字化程度正向调节技术背景CEO对创新投入的促进作用。进一步分析发现，在高不确定性环境中，整体样本企业技术背景CEO依然坚持弃虚从实，但民营企业技术背景CEO对企业金融化的影响不显著。从管理者行为视角，拓展烙印理论在企业投资决策中应用，丰富高管特征与企业金融化关系研究，防范企业脱实向虚，从而为实体经济高质量发展提供管理启示。     

Evaluating the effects of ICT core elements on CO2 emissions: Recent evidence from OECD countries

This research aimed to inform policymakers about the actual climate relevance of the information and communication technology (ICT) ecosystem, which includes data centers and content provision, broadband networks, and consumer devices. To provide robust empirical evidence on the net environmental impact of these core ICT elements, we used OECD panel data for 34 Member States for the years 2002–2019 and panel fixed-effects regression models. In contrast to previous literature, we measured basic broadband and new fiber-based wireline broadband and 3G/4G mobile broadband network deployment. We also captured variations in end-user devices, ICT affinity, and famous online content. We found that, on average, the CO₂-reducing effects appear to outweigh the CO₂-increasing effects. In particular, we found that, in addition to the reduction effect associated with the use of basic broadband connections, there is a further, albeit smaller, reduction effect associated with new fiber-based broadband connections. Other ICT elements showed insignificant coefficient estimates, suggesting largely offsetting environmental impacts. Our main findings were subject to various robustness checks and were broadly consistent with previous literature using data from developed countries. Our results suggested that old and new broadband networks as enabling technology could generate positive environmental effects for society.     

Does the digitalization of retailing disrupt consumers’ attachment to retail places?

This study breaks new ground in the marketing domain by extending the concept of place attachment to the study of the online retail environment. We provide empirical evidence that consumers can establish strong attachments not only with traditional offline places but also with online retail stores. Moreover, we assessed how distinct dimensions of the place affect the formation of consumers’ attachment and their behavioral loyalty. Our findings show that while consumers who feel a strong sense of attachment toward the place engage in spreading positive word-of-mouth regardless of the environment, their attachment to the store does not prevent them from switching to another provider, especially in the online environment.     

Digital financial inclusion. Visualizing the academic literature

Financial inclusion, which requires granting an affordable, adequate and widespread access to a sufficient range of financial products and services, has often been considered one of the cornerstones of social development, as it can contribute to poverty reduction, narrow the income gap, lead to wiser financial decisions, help to enlarge savings, increase the productive investment and foster a greater gender equality. Information and communication technologies have shown a major potential to contribute to financial inclusion, giving birth to digital financial inclusion. Using bibliometric techniques, this paper disentangles the intellectual structure of the research on digital financial inclusion, revealing the most influential sources, authors and areas inside this research stream. The results of this paper show that we are dealing with a critical demand of current society, which is attracting a growing attention of the academic literature and should be in the spotlight of both private and public institutions.     

Digitalization,internationalization, and firm performance: A resource-orchestration perspective on new OLI advantages

Digital forces and digital global connection weaken traditional ownership, location and internalization (OLI) advantages and intensify new OLI advantages (open resources, linkages and integration). However, by building on the resource-orchestration theory, we raise the question of how digitalization (utilization and orchestration of digital resources) and internationalization (firm-level outward internationalization and country-level inward internationalization) affect firm performance. We introduce the degree of outward internationalization and home-country inward foreign direct investment (FDI) inflows as moderators in achieving firm performance as a result of digitalization. Using a panel dataset of 571 U.S. manufacturing firms, we find a curvilinear relationship between digitalization and performance. The top quartile of digitalization efforts is rewarded by significant profitability. Moreover, high levels of outward internationalization and high net-FDI inflows increase the performance gains attributable to high levels of digitalization. Overall, the resource-orchestration theory complements new OLI advantages in explaining firm performance in the digital world.