The Path to Green Development:Smart Manufacturing and Corporate Green Transformation
This study provides novel evidence on how smart manufacturing,which aims to build high-quality development within the manufacturing sector,affects corporate green transformation.Taking matched data of Chinese A-share firms from between 2012 and 2021,the paper systematically investigates for the first time the impact and mechanism of smart manufacturing on corporate green transformation.The empirical results reveal that smart manufacturing significantly drives firms to implement green transformation,particularly towards areas of"substantial,innovative and clean productive"green transformation.They also clearly demonstrate the important internal driving role of smart manufacturing for firms in overcoming the"superficial,conservative and short-sighted"dilemma of green transformation and achieving a"substantive,valuable and sustainable"green transformation.Smart manufacturing not only promotes greater green investment,but also encourages firms to engage in more clean production investment,creating opportunities for them to implement green transformation.It further attracts media and firm attention to corporate environmental performance,which stimulates them to intensify their efforts in green transformation.Heterogeneity tests indicate that the effects of smart manufacturing are most significant in firms subject to fiercer market competition and increased government environmental attention.Ultimately,the paper proposes a fundamental driving force for firms to achieve their green transformation from a smart manufacturing perspective,which has important policy implications for how to effectively promote China's economy in a smart and green direction.
万方数据
维普
