Digital Transformation and Carbon Emission Reduction in Manufacturing Firms: The Dual Roles of Resource Allocation Efficiency and Green Technology Innovation

Against the backdrop of China’s “Digital China” initiative and “dual carbon” goals, this study examines the impact of digital transformation on carbon emission reduction in Chinese A-share listed manufacturing firms from 2011 to 2022. Using a three-way fixed effects model, we find that digital transformation significantly reduces corporate carbon emission intensity, and this result remains robust after endogeneity treatment and a series of robustness checks. The carbon reduction effect is realized through two core mediating paths: improving resource allocation efficiency and promoting green technology innovation. Further analysis shows that carbon disclosure quality positively moderates the above relationship, and the carbon reduction effect of digital transformation is heterogeneous across firm ownership, regional distribution, and pollution attributes. This study provides empirical evidence for the coordinated digital and green transformation of China’s manufacturing sector.