Effect of National Green Data Center Policy on Enterprise Green Transformation

Building green data centers is an important task in constructing a new generation of information infrastructure and is an inevitable choice for promoting sustainable economic development. This study regards the implementation of the national green data center (NGDC) policy in batches as a quasi-natural experiment and uses the multiperiod difference-in-difference (DID) method to study the effect and mechanism of NGDC policy on the green transformation (GT) of Chinese listed enterprises. Research has found that the NGDC policy has a substantial improvement effect on the level of GT of enterprises, mainly achieved through two paths: enhancing the investment in environmental protection and improving the environmental, social, and corporate governance performance of enterprises. Heterogeneity analysis found that the effect of NGDC policy on empowering enterprises to improve their GT level is more remarkable in state-owned enterprises and those located in more competitive industries. In addition, the technology business environment and environmental regulation in the region emphasize the positive regulatory effect of NGDC policy on promoting enterprise GT. The results of this paper provide empirical evidence and policy implications for improving the construction of national green data centers and promoting sustainable development of enterprises.