Digital transformation empowers corporate environmental performance

Abstract

Good ecological environment is both natural and economic wealth, and is related to economic and social development potential and strength of economic and social development. In the era of digital transformation, clarifying the role mechanism of digital empowerment of ecological construction can provide an important theoretical basis for building a beautiful China. This paper adopts the panel data of A-share listed companies from 2009 to 2022, and explores the influence mechanism of digital transformation on corporate environmental performance based on the mediating effect of financing constraints and the moderating effect of green technology innovation. The study finds that: digital transformation can significantly improve corporate environmental performance; financing constraints have a mediating effect in the impact of digital transformation on corporate environmental performance; green technology innovation positively moderates the impact of digital transformation on corporate environmental performance; and the heterogeneity analysis shows that digital transformation has a more significant effect on environmental performance for state-owned enterprises, non-heavily polluted enterprises, non-high-tech enterprises, and labor-intensive and technology-intensive enterprises. The promotion effect of digital transformation on environmental performance is more significant. The study focuses on the mechanism of digital transformation in the environmental performance of enterprises, which is of great significance for enterprises to utilize digital transformation to empower green development.