How intelligent manufacturing improves corporate ESG performance: A three-dimensional analysis based on "Environment," "Society," and "Governance".

Abstract

This study conducts a three-dimensional analysis of the impact of intelligent manufacturing on corporate ESG performance from the perspectives of "Environment," "Society," and "Governance." The findings reveal that intelligent manufacturing significantly enhances corporate ESG performance, and this conclusion remains robust after a series of rigorous tests. Mechanism analysis demonstrates that intelligent manufacturing promotes ESG performance improvements across all three dimensions-environmental, social, and governance. Heterogeneity analysis indicates that the ESG enhancement effects of intelligent manufacturing are primarily observed in growth-stage enterprises and highly competitive industries. Further analysis identifies industry spillover effects of intelligent manufacturing on ESG performance, with these spillover effects concentrated in technology-intensive enterprises and regions with higher industrial agglomeration levels, providing corroborative evidence that industry spillover effects are realized through collaborative innovation mechanisms. By dissecting intelligent manufacturing models and technologies, this study finds that production-oriented intelligent manufacturing exhibits stronger ESG enhancement effects, with intelligent technologies playing a pivotal role in driving ESG improvements. Additionally, this paper offers clear policy implications for the promotion of the "Intelligent Manufacturing Pilot" initiative: (1) If corporate ESG performance is regarded as a critical policy evaluation metric, the "Intelligent Manufacturing Pilot" policy should be resolutely implemented while avoiding a "one-size-fits-all" approach. Priority should be given to growth-stage enterprises, firms in highly competitive industries, and the adoption of production-oriented intelligent manufacturing models, with emphasis on the instrumental role of intelligent technologies. (2) To fully leverage spillover effects, greater opportunities should be allocated to technology-intensive enterprises and regions with elevated industrial agglomeration levels.