{"title":"The Impact of Enterprise Digital Transformation on ESG Performance: Evidence from China","authors":"Hong Zhang, Jiehua Liu, He Jiang","doi":"10.1002/mde.4525","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>Beyond improving financial performance, enterprise digital transformation (EDT) also contributes to social and environmental well-being. This study aims to investigate the impact and mechanism of EDT on environmental, social, and governance (ESG) performance and applies fixed-effects model to regress the panel data of Chinese listed companies from 2009 to 2022. We find that EDT promotes ESG performance by optimizing internal controls and improving the information disclosure quality, with blockchain contributing more prominently. This positive effect is more significant among enterprises that are state-owned, larger, and polluting. Further analysis shows that EDT improves ESG performance leads to enterprise value increase and financing constraint alleviation. Our findings guide governments to actively promote EDT, facilitate green and low-carbon transitions, and incentivize enterprise ESG practices.</p>\n </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"3157-3171"},"PeriodicalIF":2.7000,"publicationDate":"2025-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Managerial and Decision Economics","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/mde.4525","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Beyond improving financial performance, enterprise digital transformation (EDT) also contributes to social and environmental well-being. This study aims to investigate the impact and mechanism of EDT on environmental, social, and governance (ESG) performance and applies fixed-effects model to regress the panel data of Chinese listed companies from 2009 to 2022. We find that EDT promotes ESG performance by optimizing internal controls and improving the information disclosure quality, with blockchain contributing more prominently. This positive effect is more significant among enterprises that are state-owned, larger, and polluting. Further analysis shows that EDT improves ESG performance leads to enterprise value increase and financing constraint alleviation. Our findings guide governments to actively promote EDT, facilitate green and low-carbon transitions, and incentivize enterprise ESG practices.
期刊介绍：
Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perfom internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve.
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