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Environmental Information Disclosure, Digital Transformation, and Total Factor Productivity: Evidence from Chinese Heavy Polluting Listed Companies

Author

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  • Hongnan Liu

    (China Center for Special Economic Zone Research, Shenzhen University, Shenzhen 518060, China)

  • Weili Liu

    (China Center for Special Economic Zone Research, Shenzhen University, Shenzhen 518060, China)

  • Guangchun Chen

    (School of Economics and Management, Guangdong Technology College, Zhaoqing 526100, China)

Abstract

Environmental information disclosure, as a new environmental regulatory model, is important for achieving collaborative environmental pollution management and sustainable socioeconomic development. Based on the data of listed firms in China’s A-share heavy pollution industry from 2009 to 2019, this paper empirically tested the impact of environmental information disclosure on the total factor productivity of enterprises and the contribution of digital transformation to this impact. An increase in the level of environmental information disclosure had a significant positive effect on the total factor productivity of enterprises. However, with the increase in digital transformation among enterprises, the effect of environmental information disclosure on total factor productivity improvement is gradually being replaced. The heterogeneity test results showed that the positive effect of environmental information disclosure on total factor productivity changed depending on property rights, firm size, and geographical location. The effect of environmental information disclosure was stronger for non-state firms, large firms, and firms located in the east-central region. Further mechanism tests showed that the effect was induced through innovation incentives and facilitated financing. The above results provide a valuable reference for a comprehensive understanding of the effect of environmental information disclosure on productivity and adjustment by the digital transformation of enterprises.

Suggested Citation

  • Hongnan Liu & Weili Liu & Guangchun Chen, 2022. "Environmental Information Disclosure, Digital Transformation, and Total Factor Productivity: Evidence from Chinese Heavy Polluting Listed Companies," IJERPH, MDPI, vol. 19(15), pages 1-20, August.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:15:p:9657-:d:881130
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    References listed on IDEAS

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    Cited by:

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    2. Haoqiang Yuan, 2024. "Investigating the Nexus Between Environmental Information Disclosure and Green Development Efficiency: The Intermediary Role of Green Technology Innovation—a PSM-DID Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 11653-11683, September.
    3. Li, Chengming & Huo, Peng & Wang, Zeyu & Zhang, Weiguang & Liang, Feiyan & Mardani, Abbas, 2023. "Digitalization generates equality? Enterprises’ digital transformation, financing constraints, and labor share in China," Journal of Business Research, Elsevier, vol. 163(C).
    4. Yuanyu Cao & Tao Xu, 2024. "The Impact of Environmental Social Responsibility on Total Factor Productivity: Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(18), pages 1-26, September.
    5. Dong, Zhenlin & Xin, Zijun & Liu, Dewen & Yu, Fangkun, 2024. "The impact of artificial intelligence application on company environmental investment in Chinese manufacturing companies," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    6. Guoen Xia & Zenghui Yu & Xuwu Peng, 2023. "How Does Enterprise Digital Transformation Affect Total Factor Productivity? Based on the Information Intermediary Role of Analysts’ Attention," Sustainability, MDPI, vol. 15(11), pages 1-22, May.
    7. Cheng, Yiran & Zhou, Xiaorui & Li, Yongjian, 2023. "The effect of digital transformation on real economy enterprises’ total factor productivity," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 488-501.

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