Heterogeneity test based on macro characteristics of cities.

Heterogeneity test based on macro characteristics of cities.</p

Robustness tests—changing the core explanatory variables and control variables.

Robustness tests—changing the core explanatory variables and control variables.</p

Endogeneity test—variable lag method.

In the context of the rapid development of the global digital economy, it is of great significance to explore the greening transformation of the manufacturing industry from the micro-perspective of enterprise digital development. This paper empirically examines the impact and mechanism of enterprise digital development on the greening transformation of the manufacturing industry using the 2010–2020 data of Chinese A-share listed companies in the manufacturing industry as a sample. The study shows that enterprise digital development can significantly promote the greening transformation of China’s manufacturing industry, and this conclusion still holds after a series of robustness tests. Technological innovation and financing constraints are important mediating mechanisms. Further research found that the impact of enterprise digital development on the greening transformation of China’s manufacturing industry has a positive nonlinear effect, and its marginal effect shows a weakening trend. Heterogeneity analysis shows that, from the perspective of micro characteristics, digital development is more able to promote the green transformation of state-owned and large enterprises. From a macro-regional perspective, digital development can better promote the green transformation of the manufacturing industry in eastern cities, key city clusters, and high-level cities. The findings of this paper can provide corresponding insights for "revitalizing the manufacturing industry", and also provide decision-making references for countries aiming to make the manufacturing industry bigger and stronger.</div

Flow chart of theoretical mechanism and research hypothesis.

Flow chart of theoretical mechanism and research hypothesis.</p

Mechanistic test of digital transformation on carbon efficiency.

Mechanistic test of digital transformation on carbon efficiency.</p

Endogeneity test—instrumental variable approach.

In the context of the rapid development of the global digital economy, it is of great significance to explore the greening transformation of the manufacturing industry from the micro-perspective of enterprise digital development. This paper empirically examines the impact and mechanism of enterprise digital development on the greening transformation of the manufacturing industry using the 2010–2020 data of Chinese A-share listed companies in the manufacturing industry as a sample. The study shows that enterprise digital development can significantly promote the greening transformation of China’s manufacturing industry, and this conclusion still holds after a series of robustness tests. Technological innovation and financing constraints are important mediating mechanisms. Further research found that the impact of enterprise digital development on the greening transformation of China’s manufacturing industry has a positive nonlinear effect, and its marginal effect shows a weakening trend. Heterogeneity analysis shows that, from the perspective of micro characteristics, digital development is more able to promote the green transformation of state-owned and large enterprises. From a macro-regional perspective, digital development can better promote the green transformation of the manufacturing industry in eastern cities, key city clusters, and high-level cities. The findings of this paper can provide corresponding insights for "revitalizing the manufacturing industry", and also provide decision-making references for countries aiming to make the manufacturing industry bigger and stronger.</div

Heterogeneity test based on micro characteristics of firms.

Heterogeneity test based on micro characteristics of firms.</p

Tests for digitization threshold effects.

In the context of the rapid development of the global digital economy, it is of great significance to explore the greening transformation of the manufacturing industry from the micro-perspective of enterprise digital development. This paper empirically examines the impact and mechanism of enterprise digital development on the greening transformation of the manufacturing industry using the 2010–2020 data of Chinese A-share listed companies in the manufacturing industry as a sample. The study shows that enterprise digital development can significantly promote the greening transformation of China’s manufacturing industry, and this conclusion still holds after a series of robustness tests. Technological innovation and financing constraints are important mediating mechanisms. Further research found that the impact of enterprise digital development on the greening transformation of China’s manufacturing industry has a positive nonlinear effect, and its marginal effect shows a weakening trend. Heterogeneity analysis shows that, from the perspective of micro characteristics, digital development is more able to promote the green transformation of state-owned and large enterprises. From a macro-regional perspective, digital development can better promote the green transformation of the manufacturing industry in eastern cities, key city clusters, and high-level cities. The findings of this paper can provide corresponding insights for "revitalizing the manufacturing industry", and also provide decision-making references for countries aiming to make the manufacturing industry bigger and stronger.</div

DID parallel trend test and dynamic test for columns (1) through (4) of Table 6.

DID parallel trend test and dynamic test for columns (1) through (4) of Table 6.</p

Robustness tests—replacement of dependent variables.

Robustness tests—replacement of dependent variables.</p