Abstract
Based on China's unique institutional context, this paper empirically examines the relationship between corporate digital transformation and the herd effect of green investment. The findings indicate that digital transformation significantly promotes the herd effect in corporate green investments. Heterogeneity tests reveal that the enhancing impact of digital transformation on this herd effect varies with the nature of ownership and industry characteristics. The results of this study not only enrich the understanding of the economic consequences of corporate digital transformation but also offer a new research perspective on the herd effect at the organizational level.
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