IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v20y2023i3p2178-d1046584.html
   My bibliography  Save this article

Impact of Digital Transformation on Enterprise Carbon Intensity: The Moderating Role of Digital Information Resources

Author

Listed:
  • Guoge Yang

    (Xinjiang Innovation Management Research Center, Xinjiang University, Urumqi 830046, China
    School of Economics and Management, Xinjiang University, Urumqi 830046, China)

  • Fengyi Wang

    (Xinjiang Innovation Management Research Center, Xinjiang University, Urumqi 830046, China
    School of Economics and Management, Xinjiang University, Urumqi 830046, China)

  • Feng Deng

    (Xinjiang Innovation Management Research Center, Xinjiang University, Urumqi 830046, China
    School of Economics and Management, Xinjiang University, Urumqi 830046, China)

  • Xianhong Xiang

    (Xinjiang Innovation Management Research Center, Xinjiang University, Urumqi 830046, China
    School of Economics and Management, Xinjiang University, Urumqi 830046, China)

Abstract

In the context of China’s “digital power” strategy, the realization of a green and low-carbon shift in manufacturing has become a necessary condition to promote the economy, and the digital factor has increasingly become a new driving force. The text mining and IPCC methods were used to measure manufacturing enterprise digitalization and the level of enterprise carbon emission intensity from 2011 to 2021, respectively. This study then explored the impact of digitalization on manufacturing enterprise carbon emission intensity based on the least squares method model and instrumental variable method model. This research comes to three conclusions. (1) Digitalization can significantly reduce the enterprise carbon emission intensity of China’s manufacturing industry, and the influence shows a “marginal increase.” (2) Notably, a mechanism analysis indicates the intermediary effect sizes of four crucial intermediaries: green technology innovation > financing constraint > information asymmetry > energy use efficiency. Interestingly, digital information resources positively moderate the positive effect of digitalization on carbon emission intensity through three paths: financing constraints, green technology innovation, and information asymmetry. (3) The influence shows evident signs of heterogeneity—as environmental regulation, financial development, executive education, and R&D quality advance, the inhibiting effect of digitalization on enterprise carbon emission intensity becomes more pronounced. Finally, corresponding policy suggestions are proposed.

Suggested Citation

  • Guoge Yang & Fengyi Wang & Feng Deng & Xianhong Xiang, 2023. "Impact of Digital Transformation on Enterprise Carbon Intensity: The Moderating Role of Digital Information Resources," IJERPH, MDPI, vol. 20(3), pages 1-26, January.
    • Handle: RePEc:gam:jijerp:v:20:y:2023:i:3:p:2178-:d:1046584
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/20/3/2178/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/20/3/2178/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Marcus Berliant & Shin-Kun Peng & Ping Wang, 2014. "Taxing pollution: agglomeration and welfare consequences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(3), pages 665-704, April.
    2. Stiglitz, Joseph E., 1989. "Imperfect information in the product market," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 13, pages 769-847, Elsevier.
    3. Brock, William A. & Taylor, M. Scott, 2005. "Economic Growth and the Environment: A Review of Theory and Empirics," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 28, pages 1749-1821, Elsevier.
    4. Desbordes, Rodolphe & Wei, Shang-Jin, 2017. "The effects of financial development on foreign direct investment," Journal of Development Economics, Elsevier, vol. 127(C), pages 153-168.
    5. Yu, Chin-Hsien & Wu, Xiuqin & Zhang, Dayong & Chen, Shi & Zhao, Jinsong, 2021. "Demand for green finance: Resolving financing constraints on green innovation in China," Energy Policy, Elsevier, vol. 153(C).
    6. Marszk, Adam & Lechman, Ewa, 2021. "Reshaping financial systems: The role of ICT in the diffusion of financial innovations – Recent evidence from European countries," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    7. Dayuan Li & Min Huang & Shenggang Ren & Xiaohong Chen & Lutao Ning, 2018. "Environmental Legitimacy, Green Innovation, and Corporate Carbon Disclosure: Evidence from CDP China 100," Journal of Business Ethics, Springer, vol. 150(4), pages 1089-1104, July.
    8. Kenji Fujiwara, 2012. "Market integration, environmental policy, and transboundry pollution from consumption," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 21(4), pages 603-614, July.
    9. Kyriakopoulou, Efthymia & Xepapadeas, Anastasios, 2013. "Environmental policy, first nature advantage and the emergence of economic clusters," Regional Science and Urban Economics, Elsevier, vol. 43(1), pages 101-116.
    10. Wang, Shuhong & Zhao, Danqing & Chen, Hanxue, 2020. "Government corruption, resource misallocation, and ecological efficiency," Energy Economics, Elsevier, vol. 85(C).
    11. Heitor Almeida & Murillo Campello, 2007. "Financial Constraints, Asset Tangibility, and Corporate Investment," The Review of Financial Studies, Society for Financial Studies, vol. 20(5), pages 1429-1460, 2007 12.
    12. Shikher, Serge, 2011. "Capital, technology, and specialization in the neoclassical model," Journal of International Economics, Elsevier, vol. 83(2), pages 229-242, March.
    13. Zhou, Xiaoyong & Zhou, Dequn & Wang, Qunwei, 2018. "How does information and communication technology affect China's energy intensity? A three-tier structural decomposition analysis," Energy, Elsevier, vol. 151(C), pages 748-759.
    14. Zhong, Mei-Rui & Cao, Meng-Yuan & Zou, Han, 2022. "The carbon reduction effect of ICT: A perspective of factor substitution," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    15. Yang, Lisha & Li, Zhi, 2017. "Technology advance and the carbon dioxide emission in China – Empirical research based on the rebound effect," Energy Policy, Elsevier, vol. 101(C), pages 150-161.
    16. Hui Fang & Chunyu Jiang & Tufail Hussain & Xiaoye Zhang & Qixin Huo, 2022. "Input Digitization of the Manufacturing Industry and Carbon Emission Intensity Based on Testing the World and Developing Countries," IJERPH, MDPI, vol. 19(19), pages 1-28, October.
    17. Sa Xu & Cunyi Yang & Zhehao Huang & Pierre Failler, 2022. "Interaction between Digital Economy and Environmental Pollution: New Evidence from a Spatial Perspective," IJERPH, MDPI, vol. 19(9), pages 1-23, April.
    18. Li, Dezhi & Huang, Guanying & Zhu, Shiyao & Chen, Long & Wang, Jiangbo, 2021. "How to peak carbon emissions of provincial construction industry? Scenario analysis of Jiangsu Province," Renewable and Sustainable Energy Reviews, Elsevier, vol. 144(C).
    19. Han, Junhee & Lee, Keun, 2022. "Heterogeneous technology and specialization for economic growth beyond the middle-income stage," Economic Modelling, Elsevier, vol. 112(C).
    20. Alharthi, Majed & Hanif, Imran & Alamoudi, Hawazen, 2022. "Impact of environmental pollution on human health and financial status of households in MENA countries: Future of using renewable energy to eliminate the environmental pollution," Renewable Energy, Elsevier, vol. 190(C), pages 338-346.
    21. Andrea Caggese & Vicente Cunat, 2013. "Financing Constraints, Firm Dynamics, Export Decisions, and Aggregate Productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 177-193, January.
    22. Yang Liu & Yanlin Yang & Huihui Li & Kaiyang Zhong, 2022. "Digital Economy Development, Industrial Structure Upgrading and Green Total Factor Productivity: Empirical Evidence from China’s Cities," IJERPH, MDPI, vol. 19(4), pages 1-23, February.
    23. Aydin, Erdal & Eichholtz, Piet & Yönder, Erkan, 2018. "The economics of residential solar water heaters in emerging economies: The case of Turkey," Energy Economics, Elsevier, vol. 75(C), pages 285-299.
    24. C. Edward Fee & Charles J. Hadlock & Joshua R. Pierce, 2009. "Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms," The Review of Financial Studies, Society for Financial Studies, vol. 22(6), pages 2361-2392, June.
    25. Jiwen Yang & Chaoran Zheng & Hua Liu, 2022. "Digital Transformation and Rule of Law Based on Peak CO 2 Emissions and Carbon Neutrality," Sustainability, MDPI, vol. 14(12), pages 1-15, June.
    26. Xuan Chang & Jinye Li, 2022. "Effects of the Digital Economy on Carbon Emissions in China: A Spatial Durbin Econometric Analysis," Sustainability, MDPI, vol. 14(24), pages 1-20, December.
    27. Rosen, Sherwin, 2007. "Studies in Labor Markets," National Bureau of Economic Research Books, University of Chicago Press, number 9780226726304, July.
    28. Hutton, Amy P. & Marcus, Alan J. & Tehranian, Hassan, 2009. "Opaque financial reports, R2, and crash risk," Journal of Financial Economics, Elsevier, vol. 94(1), pages 67-86, October.
    29. Tao, Ran & Su, Chi-Wei & Naqvi, Bushra & Rizvi, Syed Kumail Abbas, 2022. "Can Fintech development pave the way for a transition towards low-carbon economy: A global perspective," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    30. Zhichuan Zhu & Bo Liu & Zhuoxi Yu & Jianhong Cao, 2022. "Effects of the Digital Economy on Carbon Emissions: Evidence from China," IJERPH, MDPI, vol. 19(15), pages 1-21, August.
    31. Wang, Shaojian & Zeng, Jingyuan & Liu, Xiaoping, 2019. "Examining the multiple impacts of technological progress on CO2 emissions in China: A panel quantile regression approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 103(C), pages 140-150.
    32. Hua Feng & Fengyan Wang & Guomin Song & Lanlan Liu, 2022. "Digital Transformation on Enterprise Green Innovation: Effect and Transmission Mechanism," IJERPH, MDPI, vol. 19(17), pages 1-31, August.
    33. Xiangyu Tian & Yuanxi Zhang & Guohua Qu, 2022. "The Impact of Digital Economy on the Efficiency of Green Financial Investment in China’s Provinces," IJERPH, MDPI, vol. 19(14), pages 1-18, July.
    34. Nguyen, Canh Phuc & Lee, Gabriel S., 2021. "Uncertainty, financial development, and FDI inflows: Global evidence," Economic Modelling, Elsevier, vol. 99(C).
    35. Xianhong Xiang & Guoge Yang & Hui Sun, 2022. "The Impact of the Digital Economy on Low-Carbon, Inclusive Growth: Promoting or Restraining," Sustainability, MDPI, vol. 14(12), pages 1-27, June.
    36. Usai, A. & Fiano, F. & Messeni Petruzzelli, A. & Paoloni, P. & Farina Briamonte, M. & Orlando, B., 2021. "Unveiling the impact of the adoption of digital technologies on firms’ innovation performance," Journal of Business Research, Elsevier, vol. 133(C), pages 327-336.
    37. Gerard George & Ryan K. Merrill & Simon J. D. Schillebeeckx, 2021. "Digital Sustainability and Entrepreneurship: How Digital Innovations Are Helping Tackle Climate Change and Sustainable Development," Entrepreneurship Theory and Practice, , vol. 45(5), pages 999-1027, September.
    38. Yi, Ming & Liu, Yafen & Sheng, Mingyue Selena & Wen, Le, 2022. "Effects of digital economy on carbon emission reduction: New evidence from China," Energy Policy, Elsevier, vol. 171(C).
    39. Wang, Lei & Chen, Yangyang & Ramsey, Thomas Stephen & Hewings, Geoffrey J.D., 2021. "Will researching digital technology really empower green development?," Technology in Society, Elsevier, vol. 66(C).
    40. Huan Chen & Tingyong Zhong & Jeoung Yul Lee, 2020. "Capacity Reduction Pressure, Financing Constraints, and Enterprise Sustainable Innovation Investment: Evidence from Chinese Manufacturing Companies," Sustainability, MDPI, vol. 12(24), pages 1-16, December.
    41. Feng, Suling & Zhang, Rong & Li, Guoxiang, 2022. "Environmental decentralization, digital finance and green technology innovation," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 70-83.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qingqing Zhao & Xintao Li & Siqi Li, 2023. "Analyzing the Relationship between Digital Transformation Strategy and ESG Performance in Large Manufacturing Enterprises: The Mediating Role of Green Innovation," Sustainability, MDPI, vol. 15(13), pages 1-22, June.
    2. Yu Ma & Pan Tao, 2023. "A Perspective on Management Myopia: The Impact of Digital Transformation on Carbon Emission Intensity," Sustainability, MDPI, vol. 15(12), pages 1-22, June.
    3. Luyang Tang & Bangke Lu & Tianhai Tian, 2023. "The Effect of Input Digitalization on Carbon Emission Intensity: An Empirical Analysis Based on China’s Manufacturing," IJERPH, MDPI, vol. 20(4), pages 1-22, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ziyu Meng & Wen-Bo Li & Chaofan Chen & Chenghua Guan, 2023. "Carbon Emission Reduction Effects of the Digital Economy: Mechanisms and Evidence from 282 Cities in China," Land, MDPI, vol. 12(4), pages 1-21, March.
    2. Yukun Ma & Shaojian Wang & Chunshan Zhou, 2023. "Can the Development of the Digital Economy Reduce Urban Carbon Emissions? Case Study of Guangdong Province," Land, MDPI, vol. 12(4), pages 1-13, March.
    3. Ma, Qiang & Tariq, Muhammad & Mahmood, Haider & Khan, Zeeshan, 2022. "The nexus between digital economy and carbon dioxide emissions in China: The moderating role of investments in research and development," Technology in Society, Elsevier, vol. 68(C).
    4. Ran, Qiying & Yang, Xiaodong & Yan, Hongchuan & Xu, Yang & Cao, Jianhong, 2023. "Natural resource consumption and industrial green transformation: Does the digital economy matter?," Resources Policy, Elsevier, vol. 81(C).
    5. Senhua Huang & Lingming Chen, 2023. "The Impact of the Digital Economy on the Urban Total-Factor Energy Efficiency: Evidence from 275 Cities in China," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
    6. Wei Yang & Qiuxia Chen & Qiuqi Guo & Xiaoting Huang, 2022. "Towards Sustainable Development: How Digitalization, Technological Innovation, and Green Economic Development Interact with Each Other," IJERPH, MDPI, vol. 19(19), pages 1-17, September.
    7. Xing Zhao & Yuanyuan Qian, 2024. "Does Digital Technology Promote Green Innovation Performance?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 7568-7587, June.
    8. Pingguo Xu & Leyi Chen & Huajuan Dai, 2022. "Pathways to Sustainable Development: Corporate Digital Transformation and Environmental Performance in China," Sustainability, MDPI, vol. 15(1), pages 1-21, December.
    9. Zhao Yang, 2023. "Can the Digitalization Reduce Carbon Emission Intensity?—The Moderating Effects of the Fiscal Decentralization," Sustainability, MDPI, vol. 15(11), pages 1-16, June.
    10. Yuqing Jin & Zhidan Shen & Jianxu Liu & Roengchai Tansuchat, 2023. "The Impact of the Digital Economy on the Health Industry from the Perspective of Threshold and Intermediary Effects: Evidence from China," Sustainability, MDPI, vol. 15(14), pages 1-25, July.
    11. Qiuqiu Guo & Xiaoyu Ma, 2023. "How Does the Digital Economy Affect Sustainable Urban Development? Empirical Evidence from Chinese Cities," Sustainability, MDPI, vol. 15(5), pages 1-21, February.
    12. Hao Zhou & Xinyi Li & Xiaoli Li, 2023. "Can the Digital Economy Improve the Level of High-Quality Financial Development? Evidence from China," Sustainability, MDPI, vol. 15(9), pages 1-13, April.
    13. Yi, Ming & Liu, Yafen & Sheng, Mingyue Selena & Wen, Le, 2022. "Effects of digital economy on carbon emission reduction: New evidence from China," Energy Policy, Elsevier, vol. 171(C).
    14. Kaiwen Liu & Hongbing Deng & Ting Wu & Yang Yi & Yao Zhang & Yunlong Ren, 2023. "Technological Innovation, Urban Spatial Structure, and Haze Pollution: Empirical Evidence from the Middle Reaches of the Yangtze River Urban Agglomeration," Energies, MDPI, vol. 16(18), pages 1-25, September.
    15. Jiachao Peng & Hanfei Chen & Lei Jia & Shuke Fu & Jiali Tian, 2023. "Impact of Digital Industrialization on the Energy Industry Supply Chain: Evidence from the Natural Gas Industry in China," Energies, MDPI, vol. 16(4), pages 1-32, February.
    16. Shunbin Zhong & Huafu Shen & Ziheng Niu & Yang Yu & Lin Pan & Yaojun Fan & Atif Jahanger, 2022. "Moving towards Environmental Sustainability: Can Digital Economy Reduce Environmental Degradation in China?," IJERPH, MDPI, vol. 19(23), pages 1-23, November.
    17. Zhenhua Xu & Fuyi Ci, 2023. "Spatial-Temporal Characteristics and Driving Factors of Coupling Coordination between the Digital Economy and Low-Carbon Development in the Yellow River Basin," Sustainability, MDPI, vol. 15(3), pages 1-23, February.
    18. Zheng, Li & Yuan, Ling & Khan, Zeeshan & Badeeb, Ramez Abubakr & Zhang, Leilei, 2023. "How G-7 countries are paving the way for net-zero emissions through energy efficient ecosystem?," Energy Economics, Elsevier, vol. 117(C).
    19. Ruiyuan Dong & Xiaowei Zhou, 2023. "Analysis of the Nonlinear and Spatial Spillover Effects of the Digital Economy on Carbon Emissions in the Yellow River Basin," Sustainability, MDPI, vol. 15(6), pages 1-18, March.
    20. Chen, Yan & Zhang, Ruiqian & Lyu, Jiayi & Ma, Xin, 2024. "The butterfly effect of cloud computing on the low-carbon economy," Technological Forecasting and Social Change, Elsevier, vol. 204(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:20:y:2023:i:3:p:2178-:d:1046584. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.