The Article by the School of Finance Professor Irina Ivashkovskaya and Research Intern of Corporate Finance Center Wu Yanfei was Published in «Sustainability» Journal

In January 2025,  a leading international peer-reviewed journal «Sustainability» published the article «Unlocking Green Innovation Potential Amidst Digital Transformation Challenges - The Evidence from ESG Transformation in China» by the School of Finance Professor Irina Ivashkovskaya and Research Intern of Corporate Finance Center Wu Yanfei, with co-authors.

The study examines data from 1,443 companies listed on the Shanghai Stock Exchange main board between 2013 and 2022. It reveals that digital transformation negatively affects green innovation by increasing financing constraints. However, good ESG performance helps mitigate these constraints, promoting green innovation. The paper also highlights differences between state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs), emphasizing the stronger challenges faced by non-SOEs and the more significant moderating role of ESG in these firms.

This research provides valuable insights into the dual challenges of digital and green transformations, offering practical recommendations for aligning these strategies in different organizational contexts.

Read the full article here: https://www.mdpi.com/2071-1050/17/1/309