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The impact of digital finance on carbon emissions of manufacturing enterprises

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  • Lyu, Qian
  • Chai, Binkai
  • Tao, Zhensheng

Abstract

This study investigates the impact of digital finance on carbon emissions of listed manufacturing enterprises in China, using panel data from 2013 to 2022. The findings reveal three key insights. First, the development of digital finance significantly reduces carbon emissions of manufacturing firms. Second, the presence of executives with environmental backgrounds and the provision of government green subsidies positively moderate the relationship between digital finance and carbon emission reduction. Third, heterogeneity analysis shows that the emission reduction effects of digital finance are more significant in non-state-owned enterprises and in manufacturing firms located in eastern China.

Suggested Citation

  • Lyu, Qian & Chai, Binkai & Tao, Zhensheng, 2025. "The impact of digital finance on carbon emissions of manufacturing enterprises," Finance Research Letters, Elsevier, vol. 85(PB).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pb:s1544612325012255
    DOI: 10.1016/j.frl.2025.107967
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    References listed on IDEAS

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