Under the digital economy background and“dual-carbon”goals,digital transformation is a critical approach for companies to reach a high-quality development.This study analyzes the relationship between digital transfo...Under the digital economy background and“dual-carbon”goals,digital transformation is a critical approach for companies to reach a high-quality development.This study analyzes the relationship between digital transformation and corporate Environmental,Social,and Governance(ESG)performance,using digital transformation decision-making data extracted via Python text analysis.A fixed-effects model is utilized to examine if there is a postive effect between corporate digital transformation and ESG performance with panel data from China’s A-share listed companies from 2013 to 2021,including its mechanisms and pathways.Although a few research have revealed the active relationship in this field,the validity of data source is from Bloomberg more,but less from Huazheng database which is specialised for Chinese enterprises.The research yields the following findings:Firstly,digital transformation in listed companies significantly enhances ESG performance and the conclusions remain valid after conducting robust tests including variable substitution.Secondly,digital transformation enhances corporate ESG performance by easing financing constraints and boosting innovation capabilities.Thirdly,state-owned enterprise and large corporations both exert positive pronounced effects.These findings are conducive for managers to better decision-making.展开更多
基金The 2024 Annual Research Project on Jiangsu Universities Philosophy and Social Sciences(Project No.:2024SJYB1637)。
文摘Under the digital economy background and“dual-carbon”goals,digital transformation is a critical approach for companies to reach a high-quality development.This study analyzes the relationship between digital transformation and corporate Environmental,Social,and Governance(ESG)performance,using digital transformation decision-making data extracted via Python text analysis.A fixed-effects model is utilized to examine if there is a postive effect between corporate digital transformation and ESG performance with panel data from China’s A-share listed companies from 2013 to 2021,including its mechanisms and pathways.Although a few research have revealed the active relationship in this field,the validity of data source is from Bloomberg more,but less from Huazheng database which is specialised for Chinese enterprises.The research yields the following findings:Firstly,digital transformation in listed companies significantly enhances ESG performance and the conclusions remain valid after conducting robust tests including variable substitution.Secondly,digital transformation enhances corporate ESG performance by easing financing constraints and boosting innovation capabilities.Thirdly,state-owned enterprise and large corporations both exert positive pronounced effects.These findings are conducive for managers to better decision-making.
