Path analysis of digital development on the green industrial transformation of Chinese resource-based enterprises

In the context of the rapid development of the global digital economy, the digital transformation of enterprises and their resource consumption has become crucial for countries to enhance their competitiveness and cultivate new growth areas. This study examines the effects of corporate digitalization on green transformation within resource-based firms listed in China from 2009 to 2021. The analysis reveals that digital transformation substantially enhances the sustainability of these enterprises. Nonetheless, the effects are not uniform across all sectors: they are more pronounced in mining-based companies, large entities, and businesses operating in the central and western regions of China. In contrast, impacts appear negligible for energy production and supply companies, smaller firms, and enterprises based in the central regions. The robustness of these findings is confirmed through various methodological adjustments, including variations in the explanatory variables, adjustments to the study's sample size, the inclusion of additional control variables, and the application of diverse empirical models. Finally, we further finds that internal and external factors such as increased corporate social responsibility, increased media attention, and financialization support can contribute to the greening effect of digital transformation on resource-based enterprises.