Impact of Digital Intelligence Transformation on Corporate Carbon Intensity: Evidence from Listed Manufacturing Enterprises in China

Abstract

Corporate digital intelligence transformation (DIT) has become a crucial factor influencing the carbon intensity (CI) of enterprises in the digital economy era. The purpose of this study is to examine how DIT affects CI and its underlying mechanisms. Using panel data from China’s listed manufacturing enterprises spanning from 2012 to 2023, this paper employs a fixed-effect model, an instrumental variable model, a moderation model and a stepwise regression method to investigate the impact of DIT on CI. The results show that (1) DIT is significantly negatively associated with CI, as confirmed by extensive robustness and endogeneity tests; (2) the impact of DIT on CI is pronounced in different groups of enterprises and is significant in non-state-owned enterprises, high-tech enterprises, high-polluting enterprises and firms in low-carbon pilot cities; (3) government innovation subsidy also reinforces the CI reduction effect of DIT; (4) mediation analysis indicates that the negative association between DIT and CI operates through enhanced green technological innovation and improved human capital structure. The results extend the research and theoretical perspective on enterprises’ low-carbon development and the influence of digital intelligence transformation.