Digital economy development, corporate social responsibility and low‐carbon innovation

Abstract The coordinated development of digitization and greening is the internal demand for the comprehensive transformation and upgrading of enterprises worldwide. Based on data of China's A‐share listed companies from 2012 to 2019, this article empirically confirms the stimulating effect of digital economy development on corporate low‐carbon innovation. The mechanism tests show that the above stimulating effect is due to both the reduction effects of financing constraints and environmental uncertainty brought by the rapid development of the digital economy. In addition, this article discusses the value of corporate social responsibility (CSR) and finds that the promotion of CSR can significantly improve the policy effect of digital economy development in enabling corporate low‐carbon innovation, especially for private listed enterprises in high‐pollution industries. The findings of this article deepen our understanding of how to promote corporate low‐carbon sustainable development in the digital era.