Does digital transformation reduce China's corporate pollution emission intensity?

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2025-03-09 DOI:10.1016/j.frl.2025.107141

Songsheng Mao , Tingfeng Tang , Gongyan Yang

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Abstract

In light of the Carbon Peaking and Carbon Neutrality Goals established by the Chinese government, the reduction of pollution emission through digitization is crucial for the sustainable development for China's listed enterprises. This paper analyzes the impact of digitalization on enterprise pollution emission, using the expansion of Shapiro's enterprise pollution model. It empirically tests the effects and mechanisms of pollution emission reduction in relation to enterprise digital transformation, based on the estimated pollution emission data from Chinese A-share listed companies between 2008 and 2020. The findings indicate that digital transformation of enterprise can significantly diminish the intensity of enterprises pollution emission, with technological advancement and green innovation serving as the mechanisms by which digitalization achieves pollution reduction. In addition, heterogeneity analysis shows that the digital transformation of state-owned enterprises and heavily polluting industries yields a more significant reduction in pollution, but there is no heterogeneity in the intensity of regional environmental regulations. This paper discusses the strategies for company pollution reduction in the context of digitalization and offers guidance for enterprises to seize on the opportunities presented by technology revolution and green economic transformation.

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数字化转型是否降低了中国企业的污染排放强度？

根据中国政府制定的碳峰值和碳中和目标，通过数字化减少污染排放对中国上市企业的可持续发展至关重要。本文通过对夏皮罗企业污染模型的扩展，分析了数字化对企业污染排放的影响。基于2008 - 2020年中国a股上市公司污染排放估算数据，实证检验了企业数字化转型对污染减排的影响及其机制。研究发现，企业数字化转型可以显著降低企业污染排放强度，技术进步和绿色创新是数字化实现污染减排的机制。此外，异质性分析表明，国有企业和重污染行业的数字化转型对污染的减少更为显著，但区域环境法规的强度不存在异质性。本文探讨了数字化背景下企业减少污染的策略，为企业抓住技术革命和绿色经济转型带来的机遇提供指导。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance