From ancient philosophy to modern governance: Confucian culture shaping low-carbon corporate transformation in China’s listed companies

Considering the goal of green development, this study examines the role of Confucian culture in low-carbon corporate transformation. This study shows that Confucian culture can effectively promote the low-carbon transformation of companies. The greater the influence of Confucianism on a company, the higher its level of low-carbon transformation is. Confucian culture takes effect in three ways: by improving corporate environmental awareness, by promoting social responsibility, and by strengthening corporate governance. Heterogeneity research shows that state-owned and low-capital-intensity companies, low-competition and high-attention industries, non-low-carbon pilot programs, and low-marketization areas all increase the extent of influence. The findings shed light on the influence of Confucians on low-carbon transformation at the firm level and enrich the ideas surrounding Confucian culture and corporate development.