The Impact of Digital-Intelligent Transformation on ESG Performance
Main Article Content
Keywords
digital-intelligent transformation, ESG performance, financing constraints, internal control, instrumental variable approach
Abstract
With increasingly intense market competition, the digital economy is deeply integrated with the real economy, and the requirements of enterprises for sustainable development continue to upgrade. Digital-intelligent transformation is becoming an important driving factor for the improvement of enterprise ESG performance. This study takes China’s A-share listed companies in 2015-2024 as a research sample, and empirically examines the impact and underlying mechanism of digital-intelligent transformation on enterprise ESG performance. The study found that digital-intelligent transformation can significantly promote the improvement of the ESG performance of enterprises by alleviating financing constraints and improving the quality of internal control. This conclusion is still valid after endogeneity tests and a series of robustness tests. And after heterogeneity analysis, the positive effect is more prominent in non-state-owned enterprises, enterprises in the northern China and high-tech enterprises. At the theoretical level, this study expands the research dimension of the economic consequences of digital-intelligent transformation, and supplements the microeconomic evidence of drivers of ESG performance. At the practical level, the research conclusions can provide a feasible path for enterprises to improve internal control by relying on digital technology and accelerate the implementation of ESG strategies. At the same time, they can provide decision-making reference for the government and regulatory departments to formulate differentiated support policies.
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