A display substrate, a display device, and a touch panel, the display substrate including a base substrate; and an electrode on the base substrate, the electrode including a first light transmitting layer, wherein the first light transmitting layer has a work function ranging from about 4.75 eV to about 4.9 eV, the first light transmitting layer includes a first transparent conductive oxide (TCO) layer and a first metal element doped in the first transparent conductive oxide layer, the first metal element being a group 2 metal element, the first metal element is included in the first light transmitting layer in an amount of about 0.01 atomic percent (atomic %) to about 5.00 atomic %, based on a total number of atoms in the first light transmitting layer.