How the disclosure of government public data stimulates corporate green transitions

Abstract

The sustainable development issue has already been a global focus and, therefore, the existence of government public data is important for aiding in the transition and evolution of the economies towards green growth. So, this study considers the gradual implementation of the public data provincial platforms in China as a case study within the context of sustainable development and introduce A-share listed companies' panel data from 2009 to 2022 to analyze the impact and the mechanisms of how the launching of public data platform impacts corporate green transformation in the province with the difference-in-differences model method. The analysis concludes that the availability of provincial public data does improve the level of corporate green transformation and this result holds after a number of robustness checks. Mechanism analysis indicates that public data openness promotes corporate green transformation by reducing institutional transaction costs, optimizing the competitive ecosystem, and lowering information friction. Heterogeneity analysis shows that the promotive effect of public data openness on corporate green transformation is more significant among non-state-owned enterprises, enterprises located in central cities, and non-heavy-polluting enterprises. Further analysis shows that the intensity of government environmental regulation positively regulates the impact of public data openness on corporate green transformation. The provided conclusions will deepen understanding concerning the public data accessibility and assist firms in crafting strategies regarding public information and data accessibility to obtain sustainable growth.