The Impact of the Digital Economy on Enterprise Sustainable Development and Its Spatial-Temporal Evolution: An Empirical Analysis Based on Urban Panel Data in China

The digital economy has been a great impetus to the sustainable development of enterprises. This study aims to analyze the impact and mechanism of the digital economy on the sustainable development of enterprises of the digital economy on the sustainable development of enterprises and its mechanism. Therefore, on the basis of measuring the level of urban digital economy and the level of sustainable development of enterprises, this study empirically analyzed the impact of the digital economy on enterprise sustainable development and its mechanism by using panel data of 280 A-share listed companies in cities from 2011 to 2019. The research shows that, first, the digital economy and sustainable development of enterprises have obvious spatial differentiation characteristics. Second, the digital economy can significantly promote the sustainable development of enterprises and play a role through regional innovation and entrepreneurship. In addition, compared with the midwest, the promotion effect of the east is more significant. At the provincial level, the promotion effect is better in the developed eastern provinces, such as Jiangsu, Zhejiang and Guangdong. The digital economy promotion effect is more obvious in the Yangtze River Delta, Beijing-Tianjin-Hebei, and other developed urban agglomerations in the east. Therefore, the government can accelerate the development of the digital economy, active regional innovation, and entrepreneurship activities so as to find a way to promote the sustainable development of enterprises.