Digital Transformation and Green Total Factor Productivity of Chinese Listed Companies: Evidence from Academic Perspective

Nuanyan Lin

doi:10.54097/dmz0j732

Authors

Nuanyan Lin

DOI:

https://doi.org/10.54097/dmz0j732

Keywords:

digital transformation, green total factor productivity, financial constraints, green innovation.

Abstract

Digital transformation and green total factor productivity are important measures to implement the dual carbon strategy and promote the high-quality development of enterprises. Based on micro-level data from listed companies from 2011 to 2021 and matched with text data containing digitalization keywords, this article examines the effects of corporate digital transformation on green total factor productivity. The study found that digital transformation significantly improves the green total factor productivity of enterprises, and this result holds even after robustness tests and the inclusion of control variables such as variable substitution, fixed effects interaction, double-cluster robust standard errors, and added control variables. The research in this article enriches the study on the economic consequences of digital transformation for real-world enterprises and the factors influencing green total factor productivity of enterprises. It provides valuable references for driving enterprises from traditional factor-driven to innovation-driven approaches based on green orientation.

Downloads

Download data is not yet available.

References

Ding, N., Gu, L., & Peng, Y. (2022). Fintech, financial constraints, and innovation: Evidence from China. Journal of Corporate Finance, 73, 102194.

Fang, M., Nie, H., & Shen, X. (2023). Can enterprise digitization improve ESG performance? Economic Modelling, 118, 106101.

Gu, B. M., Liu, J. G., & Ji, Q. (2022). The effect of social sphere digitalization on green total factor productivity in China: Evidence from a dynamic spatial Durbin model. Journal of Environmental Management, 320, 115946.

Kunkel, S., & Matthess, M. (2020). Digital transformation and environmental sustainability in industry: Putting expectations in Asian and African policies into perspective. Environmental Science & Policy, 112, 318 - 329.

Lee, C., Qin, S., & Li, Y. (2022). Does industrial robot application promote green technology innovation in the manufacturing industry? Technological Forecasting and Social Change, 183, 121893.

Liu, X., Liu, F. Z., & Ren, X. Y. (2023). Firms' digitalization in manufacturing and the structure and direction of green innovation. Journal of Environmental Management, 335, 117525.

Lyu, Y., Wang, W., & Wu, Y. (2022). How does the digital economy affect green total factor productivity? Evidence from China. The Science of the Total Environment, 857, 159428.

Meng, F. S., & Zhao, Y. (2022). How does the digital economy affect green total factor productivity at the industry level in China: From a perspective of the global value chain. Environmental Science and Pollution Research, 29(52), 79497 - 79515.

Vial, G. (2019). Understanding digital transformation: A review and a research agenda. Journal of Strategic Information Systems, 28 (2), 118 - 144.

Yang, G. Q., Nie, Y. M., & Li, H. G. (2023). Digital transformation and low-carbon technology innovation in manufacturing firms: The mediating role of dynamic capabilities. International Journal of Production Economics, 263, 108969.

Zhou, S., Zhou, P., & Ji, H. (2022). Can digital transformation alleviate corporate tax stickiness: The mediation effect of tax avoidance. Technological Forecasting and Social Change, 184, 122028.

Zhou, Z. S., & Li, Z. (2023). Corporate digital transformation and trade credit financing. Journal of Business Research, 160, 113793.

Bao, J., & Peng, S. (2023). Industrial Agglomeration, Enterprise Markup, and Green Total Factor Productivity: An Analysis Based on Samples of Pollution-Intensive Industries. Journal of Hebei University of Economics and Trade, 2023 (04), 61 - 73.

Cui, X., & Lin, M. (2019). How Does FDI Affect Green Total Factor Productivity of Enterprises? An Empirical Analysis Based on Malmquist-Luenberger Index and PSM-DID. Economic Management, 2019 (03), 38 - 55.

Dai, K., & Luo, Y. (2022). Environmental Regulation, Government Technological Support, and Industrial Green Total Factor Productivity. Statistical Research, 2022 (04), 49 - 63.

Hu, J., Han, Y., & Zhong, Y. (2023). How Does Enterprise Digital Transformation Affect Corporate ESG Performance? Evidence from Chinese Listed Companies. Industrial Economic Review, 2023 (01), 105 - 123.

Hu, Q. (2020). Mechanism and Performance of Enterprise Digital Transformation. Zhejiang Academic Journal, 2020 (02), 146 - 154.

Hu, Y., & Ding, Y. (2020). Can Carbon Emission Trading Mechanism Balance Enterprise Benefits and Green Efficiency? China Population, Resources and Environment, 2020 (03), 56 - 64.

Hua, J., Liu, C., & Zhu, J. (2022). Digital Transformation, Financing Constraints, and Enterprise Total Factor Productivity. Southern Finance, 2022 (07), 54 - 65.

Huang, D., Xie, H., Meng, X., & Zhang, Q. (2021). Digital Transformation and Enterprise Value: Empirical Evidence Based on Text Analysis Method. Economist, 2021 (12), 41 - 51.

Hui, X. (2023). Smart City Construction and Enterprise Green Total Factor Productivity: Intrinsic Mechanism and Empirical Evidence Based on the Perspective of "Empowerment" and Credit Allocation. Enterprise Economy, 2023 (02), 118 - 128.

Ji, Y., Zhou, X., & Zhang, Q. (2023). Digital transformation and enterprise innovation: An analysis based on the perspectives of R&D investment and R&D efficiency. Financial Research, 2023 (04), 111 - 129.

Jiang, X., & Zhang, L. (2023). The path research of digital transformation promoting green development in high-end manufacturing industry. Contemporary Finance & Economics, 2023 (09), 16 - 27.

Lei, X. (2022). Digital finance, technological innovation, and green total factor productivity in the circulation industry. Business Economic Research, 2022 (22), 15 - 18.

Li, H., Cui, H., & Wu, F. (2022). Does financial agglomeration promote corporate digital transformation? Evidence from empirical analysis of textual big data in corporate annual reports. Southern Economic Journal, 2022 (12), 60 - 81.