With the rapid development of digital technology,digital transformation has gradually become an important driving force for enterprises to realize green and low-carbon development.Based on the data of A-share listed manufacturing enterprises in Shanghai and Shenzhen Stock Exchanges from 2013 to 2022,this paper explores the impact of digital transformation on firms'carbon performance and its mechanism of action.The baseline regression indicates that digital transformation can significantly improve firms'carbon performance.The carbon performance level will increase by 0.013%for 1%increase in the degree of digital transformation.The mediating effect test shows that green technology innovation plays an intermediary role between digital transformation and firm carbon performance.The moderating effect test shows that industry competition plays a positive moderating role in the impact of di-gital transformation on firms'carbon performance.Heterogeneity analysis indicates that the promotion effect of digital transformation on carbon performance is more significant in enterprises with high pollution,low financing constraints and high R&D investments.These findings deepen our understanding of enterprise digital transformation and offer guidance on how to improve the carbon per-formance of manufacturing enterprises.
关键词
数字化转型/碳绩效/绿色技术创新/行业竞争/制造业/污染程度/融资约束/研发投入
Key words
digital transformation/carbon performance/green technology innovation/industry competition/manufacturing industry/pollution degree/financing constraint/R&D investment
万方数据