Fintech and green innovation - evidence from Chinese listed firms

Abstract

This paper examines how fintech influences green innovation based on panel data from Chinese A-share listed firms. Fintech covers artificial intelligence, blockchain, big data, cloud computing and biometrics, and reshapes core financial links such as payment, risk control and investment and financing through digital innovation. We construct a novel fintech adoption index and employ a Poisson model to assess its effect on firms’ green patenting performance. The results indicate that fintech facilitates green innovation primarily by enhancing firms’ adaptive capacity. In contrast, no significant mediation effects are found via absorptive capacity or integration capability. These findings enhance the understanding of how fintech enables green innovation and provide guidance for firms and policymakers aiming to promote sustainability through digital transformation.