1. Digital inclusive finance and green transformation of manufacturing enterprises: Empirical analysis based on the dual perspectives of demand and supply.
- Author
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Fu, Hengni, Zheng, Chengsi, and Yang, PingYu
- Subjects
MANUFACTURING industries ,ENVIRONMENTAL management ,SUPPLY & demand ,AWARENESS ,DATA analysis - Abstract
This study aimed to examine the relationship between digital inclusive finance (DIF) and the green transformation of manufacturing enterprises using data from A-share listed manufacturing companies in China from 2011 to 2020. This study employs a super-efficient SBM model to measure enterprises' green total factor productivity (GTFP) as a proxy variable for their green transformation. It explores the mechanisms through which DIF influences this transformation. Additionally, this study examines the effect of informal environmental regulation based on residents' environmental awareness. The results show that (1) the development of DIF has a significant improvement effect on enterprises' GTFP; (2) alleviating financing constraints on the supply side and promoting residents' consumption on the demand side are identified as important mechanisms through which DIF improves enterprises' GTFP; (3) increased residents' environmental awareness can strengthen the positive effect of DIF on the GTFP of enterprises; and (4) the promotion effect of DIF on the GTFP of enterprises is more significant in non-state-owned enterprises and eastern regions. These conclusions provide valuable policy insights to advance the development of DIF and facilitate the green transformation of the manufacturing industry. • Explore the empowerment of digital inclusive finance(DIF) on the green transformation of micro-level decision-making units. • Adopt a dual perspectives of demand and supply to clarify the influencing mechanism of the aforementioned relationship. • Examine the positive moderating effect of residents' environmental awareness on the baseline relationship. • Analyze the regional and ownership heterogeneity in the impact of DIF on the green transformation of enterprises. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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