Corporate Digital Transformation and Green Innovation: A Quasi-Natural Experiment from Integration of Informatization and Industrialization in China

In the era of the digital economy, the rise and application of digital technologies have led to a series of systematic changes and disruptive innovations within enterprises. Based on the quasi-natural experiment of “Integration of Informatization and Industrialization”, this paper examines the economic consequences of digital transformation from the standpoint of corporate green innovation, utilizing China’s listed manufacturing firms as the research object. Using the DID model, it is discovered that through the implementation of corporate digital transformation, the output of green innovation increases significantly. The conclusions are still robust when using the parallel trend test, PSM-DID, placebo test, and the test of deleting the sample entering the pilot in the current year. Extended analyses find that corporate digital transformation has a greater effect on green innovation in regions with weaker digital economy, in industries with less rivalry, and in firms with larger size. The conclusions of this paper not only advance research on digital transformation and its economic consequences, but also provides theoretical proof and practical insights for advancing corporate digital transformation and enhancing the green development system.