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

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.