How digital transformation can improve green total factor productivity?——evidence from traditional energy companies in China
摘要
Green total factor productivity (GTFP) is a pivotal indicator for evaluating traditional energy enterprises' green and low-carbon advancements. By catalyzing the digital transformation(DT) of production processes and fostering the integration of digital technology to enable these enterprises, their transition to green operations can be effectively facilitated. To investigate the augmenting effect of DT on GTFP and its underlying mechanisms, we employ data from A-share listed companies within the traditional energy industry, spanning 2013 to 2023. The results indicate the following: (i) DT appreciably enhances GTFP among traditional energy enterprises. (ii) The moderating effect suggests that heightened market competition further augments this positive effect. (iii) Mechanism tests elucidate four ways to improve GTFP: fostering green innovation, minimizing redundant resources, strengthening environmental protection practices, and broadening social supervision. (iv) Heterogeneity analysis reveals distinct outcomes among different types of enterprises. Specifically, heavily polluting enterprises and high-tech enterprises, as well as those located in highly market-oriented environments, possessing sophisticated digital infrastructures, being under the vital coverage of environmental protection policies, or occupying transportation hubs, demonstrate more pronounced effects in improving GTFP through DT. Ultimately, this empirical evidence offers valuable policy implications for accelerating the green transformation of traditional energy enterprises.