Digital Driving Factors and Transmission Mechanisms for the Green Development of Manufacturing Enterprises

This study empirically examines the impact of digital transformation on the green development of manufacturing enterprises using a fixed-effects model and a mediation model, based on sample data from A-share listed manufacturing companies from 2012 to 2023. The findings reveal: (1) Digital transformation significantly promotes green development in manufacturing enterprises, a conclusion that remains valid after controlling for endogeneity and conducting robustness tests; (2) Mechanism analysis indicates that digital transformation empowers green development through dual pathways: enhancing new-quality productivity and attracting green investors; (3) Heterogeneity analysis shows that the promotional effect of digital transformation on green development is more pronounced in non-heavily polluting industries and among enterprises in eastern regions; (4) Further analysis reveals that the promotional effect of digital transformation on green development is modulated by firm growth potential and financing constraints, with positive and negative significant effects, respectively. These findings underscore the strategic importance of understanding and leveraging the channels and enabling effects of digital transformation on green development to enhance both digital production and green development levels in manufacturing enterprises.