The mechanisms underlying the relationship between firms' digitalization transformation and environmental, social, and governance (ESG) are underexplored. Using a sample of Chinese listed firms from 2011 to 2020, this research explores the mechanisms whereby digitalization affects firms' ESG performance. We found: (i) digitalization transformation can effectively promote firms' ESG performance; (ii) digital transformation promotes firms' ESG performance by enhancing internal control and green innovation; and (iii) the positive effects between digital transformation and ESG performance are more pronounced in non-state-owned-enterprises (non-SOEs) and firms of the manufacturing industry, and hi-tech firms, as well as firms with a higher ratio of independent directors and higher analyst coverage. (iv) The government's supportive attitude towards industrial policy has a positive moderating effect on the impact of digital transformation on ESG performance, and the degree of marketization in the region where the firm is located has a negative moderating effect on the relationship between digital transformation and ESG performance. Our research deepens the understanding of the nuanced mechanism underlying the positive relationship between firms' digital transformation and their ESG performance. 

Digitalization transformation and ESG performance: Evidence from China

Environmental tax reform and greenwashing: Evidence from Chinese listed companies

Research background: The rapid development of digital economy has set off a new wave of enterprise reform. Developing the digital economy is not only an urgent requirement of the current situation, but also an important way to meet the people's better life.
Purpose of the article: This paper attempts to reveal the important role of the development of digital technology on the debt financing cost of micro enterprises, and provide micro evidence for the integration of digital economy and real economy. At the same time, this paper wants to provide relevant guidance for formulating digital related policies and reducing the financing cost of the real economy.
Methods: Taking China?s A-share listed companies from 2007 to 2020 as a sample, this paper empirically tests the impact of enterprise digital transformation on debt financing cost and its mechanism. In the robustness test, this paper uses the measures of changing independent variables and dependent variables, instrumental variable method and quantile regression method. In the mechanism test, this paper uses the intermediary effect model. In the further study, this paper uses the method of group regression.
Findings & value added: The study finds that the digital transformation of enterprises significantly reduces the cost of debt financing. Mechanism tests show that the role of enterprise digital transformation in reducing debt financing costs is mainly realized by reducing information asymmetry and alleviating agency problems. Further tests show that the relationship between enterprise digital transformation and debt financing cost is affected by the degree of market competition, whether it is a high-tech enterprise and audit quality. When the degree of market competition is high, the enterprise is a high-tech one, or it is audited by the four major international accounting firms, the effect of enterprise digital transformation on the reduction of debt financing cost is more significant. The method used in this paper is also applicable to the study of other economic management problems. This paper proves a positive significance of digital transformation, which is conducive to promoting the digital transformation of enterprises. Especially for those enterprises in non-high-tech industries, they should speed up the pace. At the same time, this paper has a certain guiding role for the introduction and implementation of policies to encourage digital transformation.

Enterprise digital transformation and debt financing cost in China?s A-share listed companies

Enhancing the green innovation capability of enterprises holds pivotal significance in achieving the “dual carbon” target. The integration of digital economy and real economy provides new ideas for promoting green innovation in enterprises. Based on the Chinese A-share listed companies panel data from 2011 to 2022, this paper empirically tests the impact of the integration of the digital economy and real economy on enterprise green innovation. The results show that integrating the digital economy and the real economy significantly positively affects green innovation. Improving the integration level of the digital and real economies is conducive to promoting green innovation. Intrinsic mechanisms show significant mediating effects on financing constraints, enterprise digital transformation, and corporate social responsibility. The integration of the digital and real economies can promote enterprise green innovation by alleviating enterprise financing constraints, driving enterprise digital transformation, and promoting corporate social responsibility. Heterogeneity analysis shows that the impact of integrating the digital and real economies on enterprise green innovation affects state-owned enterprises more than private enterprises. The effect on small enterprises is significantly positive at the 1 % confidence level; however, the impact on the green innovation of large enterprises is not significant. 

Research on the impact of the integration of digital economy and real economy on enterprise green innovation

Voluntary environmental regulations play a crucial role in promoting green innovation. However, the existing literature on the subject has yielded inconsistent conclusions. To address this issue, this study utilizes data from China's list companies between 2008 and 2020, employing both the difference-in-differences (DID) and instrumental variable methods to accurately estimate the impact of ISO14001 certification on green innovation. Our findings indicate that ISO14001 certification enhances both the quantity and quality of green innovations. Furthermore, our results remain robust even after implementing the propensity score matching (PSM) method and conducting placebo tests. This paper also excludes heterogeneous treatment effect bias in staggered DID. In addition, the impact of ISO14001 on green innovation is focused on green innovation related to source control. The study also considers the impact of greenwashing and ownership on the relationship between ISO14001 certification and green innovation. Greenwashing is found to have a negative impact on green innovation, especially in terms of quality, and enterprises with more greenwashing tend to have a weaker response to ISO14001 certification. Finally, our mechanism test indicates that ISO14001-induced green technology innovation serves as a leverage effect on existing innovation activities, rather than a crowding-out effect on other technological innovations or a speculative activity aimed at defrauding government subsidies. 

Voluntary environmental regulations, greenwashing and green innovation: Empirical study of China's ISO14001 certification

This study addresses a gap in the literature on corporate governance and corporate social responsibility (CSR) by investigating whether and how board independence and institutional ownership moderate the relationship between digital transformation and corporate social performance (CSP). We find that digital transformation increases CSP using a panel dataset of Chinese publicly listed firms between 2014 and 2018. Moreover, we show that this positive impact is more pronounced when firms have higher proportions of independent directors on the board and institutional owners. These findings contribute to a better understanding of CSR dynamics, supporting the formulation and implementation of efficient CSR strategies in the digital era.

/pdf/digital-transformation-and-corporate-social-performance-how-2z7cgp7l.pdf

Digital Transformation and Corporate Social Performance: How Do Board Independence and Institutional Ownership Matter?

Access to information and resources through the Internet has become an increasingly critical aspect of contemporary life. Based on the WHO Health Equity Assessment Toolkit (HEAT) and cross-country panel data, this paper investigates the effect of Internet access on health inequality across different income groups. The results indicate that access to the Internet significantly improves the average health condition and alleviates health inequality. In addition, employing cross-country data from the Global Burden of Disease (GBD) database, this paper further examines the social and economic determinants of access to healthcare. Specifically, it is found that Internet access significantly facilitates healthcare access and mitigates the negative impact of income inequality on healthcare access. Considered together, these findings shed light on the importance of the Internet in reducing health inequality and improving healthcare access.

/pdf/impacts-of-the-internet-on-health-inequality-and-healthcare-1zbld0s7.pdf

Impacts of the Internet on Health Inequality and Healthcare Access: A Cross-Country Study

Green innovation is one of the most important approaches to prevent environmental pollution and foster sustainable development. Embedded in the global production networks, manufacturing firms have been found not only to be the main drivers of innovation but also the main polluters in developing countries. However, relatively few studies have systematically considered the effect of global value chain (GVC) participation on green innovation in the context of developing countries. By using a panel dataset of Chinese listed manufacturing firms, this study conducts panel data fixed-effect analyses and uses the instrumental variable two-stage least square model to investigate the effect of GVC participation on firms’ green innovation performance. The results show that increased GVC participation leads to improved green innovation performance of Chinese firms. Meanwhile, further heterogeneity analyses show that the impact of GVC participation on green innovation is more pronounced for firms with greater financial constraints, state-owned firms and firms in labor- or pollution-intensive industries, located in the eastern regions of China. Therefore, this study sheds light on the implication that actively participating in GVC is the key to promoting sustainable growth when facing the need for transformation in developing countries.

/pdf/global-value-chain-participation-and-green-innovation-2ybhpx4t.pdf

Global Value Chain Participation and Green Innovation: Evidence from Chinese Listed Firms

Since the long dwell time and chaotic crowds make metro trips inefficient and dissatisfying, the importance of optimizing alighting and boarding processes has become more prominent. This paper focuses on the adjustment of passenger organizing modes. Using field data from the metro station in Nanjing, China, a micro-simulation model of alighting and boarding processes based on an improved social force paradigm was built to simulate the movement of passengers under different passenger organizing modes. Unit flow rate, delay, and social force work (SFW) jointly reflect the efficiency and, especially, the physical energy consumption of passengers under each mode. It was found that when passengers alighted and boarded by different doors, efficiency reached its optimal level which was 76.92% higher than the status quo of Nanjing, and the physical energy consumption was reduced by 16.30%. Both the findings and the model can provide support for passenger organizing in metro stations, and the concept of SFW can be applied to other scenes simulated by the social force model, such as evacuations of large-scale activities, to evaluate the physical energy consumption of people.

/pdf/optimization-of-metro-passenger-organizing-of-alighting-and-3nnwuzh71a.pdf

Optimization of Metro Passenger Organizing of Alighting and Boarding Processes: Simulated Evidence from the Metro Station in Nanjing, China

The active traffic management system disseminates traffic information to drivers to guide their route choice, so as to alleviate traffic congestion. Most drivers are highly dependent on mobile navigation APP, and the display form of mobile navigation information is of great importance. In order to improve drivers’ compliance with guidance information, this research accommodates for information that disseminate time attribute (when to provide the traffic information) and display format attribute (voice navigation or not, flat map or three-dimensional [3D] map) and also explores the interaction effects between individual and trip characteristics. A revealed preference (RP) and stated preference (SP) survey consisting of 831 respondents is conducted in Nanjing, China. Then three kinds of panel logit model are established to fit the survey data. According to the model results, it is found that drivers with aggressive style are more sensitive to travel time, and drivers who are familiar with the road network are more sensitive to the 3D map with voice navigation format. The results of parameter estimation are also used for the trade-off analysis of various exogenous variables. The findings of this study provide useful insights for the development of mobile navigation APPs, personalized path recommendation and congestion pricing strategies. 

https://onlinelibrary.wiley.com/doi/pdfdirect/10.1049/itr2.12218

Influence of smartphone traffic application information on drivers’ route choice behaviours

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