How the Dual Synergy of Digitalization and Greening Empowers High-quality Development——Evidence from Listed Companies in China
China is currently at the historical intersection of two major strategic directions:digitalization and greening.Exploring how the dual synergy of digitalization and greening empowers high-quality economic development is of great practical significance.The authors construct indicators for the dual synergy of digitalization and greening at the enterprise level,take listed companies in China from 2007 to 2022 as the research sample to investigate the impact of the dual synergy on enterprise high-quality development.It is found that,compared to single transformation of digitalization or greening,the dual synergy of digitalization and greening can more efficiently enhance the total factor productivity of enterprises and empower high-quality development.Mechanism analysis indicates that the dual synergy of digitalization and greening combines the advantages of single transformations to produce resource synergy effects and innovation synergy effects,simultaneously optimizing enterprise resource allocation,expanding enterprise knowledge breadth,and improving enterprise innovation quality,thereby more effectively driving enterprise high-quality development.Heterogeneity analysis reveals that:in terms of internal characteristics,the dual synergy has a greater role in promoting the high-quality development of state-owned,large-scale,and heavily polluting enterprises;and in terms of external environment,the enhancing effect of the dual synergy on high-quality development is more fully reflected in enterprises with higher market competition,stronger environmental regulation intensity,and lower uncertainty of operating environment.Therefore,it is essential to enhance top-level design and optimize institutional mechanisms to ensure the effective implementation and deep integration of the two major strategies of digitalization and greening;enterprises should recognize the positive effects of the synergy,which aids in achieving high-quality development;enterprises should also deeply understand the characteristics of both their internal and external environments to maximize the economic benefits of the synergy between digitalization and greening.
digitalizationgreeningsynergy transformationtotal factor productivityhigh-quality development
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