Digital Transformation Enables High-Quality Development of Manufacturing Enterprises：From the Dual Perspectives of Economic Benefits and ESG Performance

Abstract

Abstract: Digital transformation is a stabilizer of the productivity and a catalyst for the sustainable development in manufacturing enterprises. Whether digital transformation can realize the“win-win”result between economic performance and ESG performance is an important issue in the high-quality development of manufacturing enterprises. Based on the data of the listed manufacturing enterprises from 2010 to 2020, this paper conducts an empirical study. The findings show that digital transformation can promote the high-quality development of manufacturing enterprises, that is, improving their total factor productivity and ESG performance at the same time. The mechanism validation shows that the innovation channel and the efficiency channel are the key paths for the digitalization to enable the high-quality development of manufacturing enterprises, and that digital transformation can promote the tilting of resources to high-productivity enterprises and effectively promote the improvement of ESG performance. Further research reveals that a favorable business environment and accelerated marketization can strengthen the positive effects of digitalization on the high-quality development of enterprises. In addition, there are significant structural changes in the impact of digital transformation on the high-quality development of enterprises. Therefore, the manufacturing enterprises should fully utilize digital technology to continuously promote the compound growth of economic performance and ESG performance, and continuously improve the talent training mechanisms. At the same time, the government should consolidate the institutional foundation, create a good business environment, improve the market mechanisms, so as to continuously release the role of digital transformation strategy in empowering the high-quality development of enterprises..

Key words: digital transformation, high-quality development, total factor productivity, ESG performance

CLC Number:

F275

TAN Ya-fei, ZHU Zhao-hui, LI Min-xin. Digital Transformation Enables High-Quality Development of Manufacturing Enterprises：From the Dual Perspectives of Economic Benefits and ESG Performance[J]. Journal of Jiangxi University of Finance and Economics, 2024, 0(4): 45-58.

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