| LI Jinchang,LIAN Ganghui,XU Aiting.Study on the Path of Enterprise Green Transformation Under the Carbon Peaking and Carbon Neutrality Goals: An Empirical Study on Digitalization Driving Greenization[J].The Journal of quantitative and technical economics,2023,(9):27-49 |
| “双碳”愿景下企业绿色转型的破局之道——数字化驱动绿色化的实证研究 |
| Study on the Path of Enterprise Green Transformation Under the Carbon Peaking and Carbon Neutrality Goals: An Empirical Study on Digitalization Driving Greenization |
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| 中文关键词: 数字化转型 绿色转型 环境绩效 经济绩效 绿色创新绩效 |
| 英文关键词: Digital Transformation Green Transformation Environmental Performance Economic Performance Green Innovation Performance |
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| 中文摘要: |
| 在“双碳”战略目标和可持续发展背景下，企业亟须将数字化转型作为实现绿色发展、解决制度和效率困境的“破局”关键。本文尝试在深度解读企业绿色转型内涵的基础上，解构数字化转型驱动绿色转型的作用机理。基于2009～2021年中国上市公司样本数据实证发现，企业数字化转型对环境绩效、经济绩效和绿色创新绩效均具有显著的正向影响。这意味着，企业数字化转型能够显著促进绿色转型。异质性分析表明，当区域环境规制强度较高时，企业数字化转型的驱动效应更强；相较于非重污染企业，重污染企业基于多方压力而更具绿色转型内生动机，从而在一定程度上削弱了数字化转型的驱动作用。从作用路径看，企业数字化转型通过提升内部能力建设、增强市场外部关注、吸引政府补贴三种途径促进绿色转型。从政策层面看，低碳城市试点在数字化转型对绿色转型的作用机制中发挥一定的正向激励作用，但“双碳”目标囿于提出时间较短，其激励作用尚未显现。本文拓展了绿色转型的研究视角，为企业数字化与绿色化“双转型”融合研究提供了新思路，为“双碳”愿景下中国企业实现数字化绿色化协同转型提供了路径选择。 |
| 英文摘要: |
| The triple environmental threats of climate change, biodiversity loss, and pollution are close at hand, and global environmental governance faces an unprecedented challenge. As a fundamental policy to achieve synergy between the economy and the environment, green transformation and low-carbon development have received widespread attention from countries worldwide. As a responsible power, China announced in 2020 that it will strive to hit the carbon emission peak by 2030 and achieve carbon neutrality by 2060 (dual carbon goals). Following that, the 14th Five-Year Plan anchors the “dual carbon” goals and mentions green transformation several times. As a market player in promoting economic development, how enterprises can take various measures to achieve green transformation in the context of “dual carbon” goals has become an urgent social issue that needs to be explored. Driven by a new scientific and technological revolution, enterprise digital transformation has penetrated all aspects of core businesses such as production, decision-making, and operational interaction. Driving green development with digital transformation is becoming a new trend in enterprise development.However, existing studies lack a systematic interpretation of the connotation of green transformation from a performance perspective, an in-depth analysis of the inner mechanism of green transformation driven by enterprise digital transformation from different performance perspectives, and an empirical examination of the driving effect and inner mechanism under a larger range of enterprise samples. In this study, we have interpreted the connotation of enterprises’ green transformation under the “dual carbon” goals and tried to deconstruct the mechanism of green transformation driven by enterprises’ digital transformation. Based on the sample data of Chinese listed companies from 2009 to 2021, we found that the digital transformation of enterprises has a significant positive impact on environmental, economic, and green innovation performance. This means that the digital transformation of enterprises can significantly contribute to green transformation. The heterogeneity analysis reveals that the driving effect of enterprises’ digital transformation is stronger when the intensity of regional environmental regulations is higher. Compared with non-heavily polluting enterprises, heavily polluting enterprises have stronger endogenous motivation for green transformation. In terms of the path of action, the digital transformation of enterprises can promote green transformation in three ways—improving the internal capacity of enterprises, enhancing the external attention of the market, and attracting government subsidies. At the policy level, the pilot low-carbon cities play a positive incentive role in the mechanism of digital transformation on green transformation, but the incentive effect of the “dual carbon” target has not yet appeared because of the relatively short time it has been proposed.The contributions of this study are as follows. First, in terms of research content, we interpret the core connotation of corporate green transformation from the three-dimensional perspectives of environmental, economic, and green innovation performance. Further, we correlate green transformation with digital transformation and analyze the driving effect of digital transformation on green transformation in detail. Second, in terms of research mechanism, we try to build a theoretical framework for the impact of digital transformation on green transformation and reveal the impact path from three perspectives—internal capacity building, external market concerns, and government subsidies. Moreover, this study grouped regressions based on internal and external factors that may affect the driving effect, such as the intensity of regional environmental regulations and the degree of corporate pollution, to capture the heterogeneous effect of digital-driven greening of enterprises. In terms of research extension, we explore whether low-carbon city pilot policies and the “dual carbon” target affect the impact of digital transformation on green transformation to provide useful policy references for promoting green transformation under the “dual carbon” vision.Finally, our research results provide an important theoretical basis and policy inspiration. From the perspective of enterprises, first, they should accelerate the change of ideology and pay attention to the importance of digital transformation to green transformation. Second, enterprises should take advantage of their strengths and mitigate their weaknesses and choose a green development model that matches their own endowments. Third, they should pay attention to the basic role of internal capacity and the incentive role of market concern. From the government’s perspective, first, it should accelerate the reform and optimization of market management orders, administrative approval services, and other institutional measures that may hinder the digital transformation of enterprises. It should build an external environment suitable for the synergistic transformation of digitalization and greening of enterprises. Second, relevant government departments should conduct sufficient research to explore the driving mechanism of digital transformation of different types of enterprises for precise guidance. Third, the power of government supervision and public opinion monitoring should be actively exerted to establish a reasonable evaluation and supervision mechanism. |
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