Climate policy uncertainty and digital transformation of enterprise—Evidence from China

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2023-10-02 DOI:10.1016/j.econlet.2023.111377

Yan Mo , Xiaotong Liu

引用次数: 1

Abstract

We propose that climate policy uncertainty negatively affects the digital transformation of enterprise by using China listed firms’ data from 2010 to 2021. We find that this effect remains significant after controlling for endogeneity using climate policy uncertainty in the USA as an instrumental variable. Additionally, we consider financial constraints and free cash flows as channels through which climate policy uncertainty affects companies’ digital transformation.

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气候政策不确定性与企业数字化转型——来自中国的证据

利用中国上市公司2010-2021年的数据，我们提出气候政策的不确定性对企业数字化转型产生负面影响。我们发现，在使用美国气候政策的不确定性作为工具变量控制内生性后，这种影响仍然显著。此外，我们认为财务约束和自由现金流是气候政策不确定性影响公司数字化转型的渠道。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.